Electric vehicle demand keeps on booming as 2023 nears. The entire auto industry is making huge strides in development as many people ditch traditional car models.
Indeed, it's a cycle of preference and adoption when it comes to favoring EVs over gas-powered vehicles.
While it's true that Tesla remains undisputed when it comes to the auto sector, several car makers are slowly catching up in the EV market.
Electric Vehicles Are Surpassing Gas-Powered Cars
Everyone knows that Tesla, right from the get-go, has established its name in the field of electric vehicles in the United States.
There was a time that it was considered a monopoly of EV supplies across the continent. However, things have already changed and some companies are catching up with this trend.
Of course, when other EV manufacturers start to produce their own cars, the market share becomes divided and loss becomes evident to some extent.
According to SP Global's recent data, the first nine months of 2022 heavily favored Tesla. In the US alone, there were 340,000 Tesla car models. As a reference, there are 525,000 registered EVs in the region for this year.
As new car owners switch preferences from gas-operated vehicles, the EV market share resulted in a 6% growth of Tesla for the previous quarter. Last year, the automaker only managed to reach 2.2 during the same quarter.
What Cars Do Owners Trade For EVs
Since electric vehicles have overtaken the market, some previous owners of traditional cars are now looking to purchase cheaper EVs in some shops.
Honda and Toyota, for instance, noticed a decline in the number of car owners over the past year. To help you understand the relationship between electric cars and gas cars, take a look at this list.
Electrek reports that customers trade the following gas cars:
- Lexus RX
- Honda CR-V
- Toyota RAV4
- Honda Odyssey
- Honda Accord
For: Tesla Model Y
- Honda Civic
- Honda Accord
- Toyota Camry
- Toyota RAV4
- Honda CR-V
For: Tesla Model 3
- Toyota RAV4
- Honda CR-V
- Jeep Wrangler
For: Ford Mustang Mach-E
- ToyotaRAV4
- Honda CR-V
- Toyota Prius
For: Chevrolet Bolt EV or EUV
- Toyota RAV4
- Honda CR-V
- Mazda CX-5
- Subaru Forester
For: Hyundai IONIQ5
The data only shows that more people are convinced to invest in all-electric alternatives from Tesla, GM, Hyundai, and Ford. In short, the transition from gas cars to EVs is very quick.
The rapid shift in customer preference will only mean that more buyers show a willingness to switch to EVs without any hesitation.
Read also: Honda 2024 CR-V: First Hydrogen Fuel Cell-Powered Hybrid-Clean Energy Cars Producing Next Year
Why People Prefer EVs
Kinetic Green cites some reasons why EVs are considered the future of the car industry.
- Gasoline is more expensive than electricity
- Comfortable and quiet
- No carbon emissions
- Less maintenance
- Customizable when it comes to power
- An electric motor is highly efficient
- Does not require gear switching