They’re either okayish but wayyy overpriced or just bad and still overpriced.
If BYD was allowed to sell there you’d probably see a huge jump in ownership.
US isn’t as rich as many think either - the oligarchy and corporations there are, the people not so much. It’s why car ownership in general is down there.
Yes, it’s high because nearly everyone there has no choice. In many places there is essentially no public transportation at all or transport so bad as to be nearly useless.
Secondly, many of those cars sold are not sold with smaller short term loans these days but with 5+ year loans because people can’t afford even half the down payment anymore.
And lastly, the people most interested in an EV (especially now) are those looking to save money. To them the main appeal is not having to pay for gas. Yet American EVs are not priced at the same price as budget ICE and Hybrids.
There’s basically no correlation between a country’s wealth and its EV uptake. High EV adoption countries include rich countries like Norway and poor countries like Nepal. Low adoption countries include rich countries like Japan and poor countries like Albania.
The market doesn’t hate EVs, because otherwise Polestar didn’t be opening a plant in the USA to keep up with demand.
US EV market share is at 5.7%. That is low compared the rest of the world. Especially since the US is a rich country.
Because US EVs are pretty shit.
They’re either okayish but wayyy overpriced or just bad and still overpriced.
If BYD was allowed to sell there you’d probably see a huge jump in ownership.
US isn’t as rich as many think either - the oligarchy and corporations there are, the people not so much. It’s why car ownership in general is down there.
The sales-weighted average for new car sales in the US is $47k. That is a lot of money by global standards. Even in the US you can get something like the 2025 Hyundai Ioniq 6 for less then that and there are cheaper BEVs available as well.
Also car ownership in the US is insanely high.
Yes, it’s high because nearly everyone there has no choice. In many places there is essentially no public transportation at all or transport so bad as to be nearly useless.
Secondly, many of those cars sold are not sold with smaller short term loans these days but with 5+ year loans because people can’t afford even half the down payment anymore.
And lastly, the people most interested in an EV (especially now) are those looking to save money. To them the main appeal is not having to pay for gas. Yet American EVs are not priced at the same price as budget ICE and Hybrids.
There’s basically no correlation between a country’s wealth and its EV uptake. High EV adoption countries include rich countries like Norway and poor countries like Nepal. Low adoption countries include rich countries like Japan and poor countries like Albania.