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May 11, 2018 | AAA Survey: 50 Million Americans want Next Vehicles to be Electric

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

There is no denying that Elon Musk and Tesla have been key instigators in the long delayed push and now race for electric vehicles. Leaping battery technology and the spread of charging stations will naturally accelerate this transformation.  The emissions-fraud perpetrated by many of the world’s largest ICE manufacturers has also helped increase public awareness on the cleaner air/less disease side of life without internal combustion engines.  And the embarrassment and brand damage finally prompted traditional auto companies to ramp up their EV lines in a bid to win back public trust.  Too bad they invested their energy and resources in lying and cheating emissions standards to pollute the world and maintain antiquated technology the past decade, rather than EV innovation. Our healthier world could have been so much further ahead.  So it goes. See AAA: 1-in-5 U.S. drivers want an electric vehicle:

American appetite for electric vehicles is heating up. A new AAA survey shows that 20 percent or 50 million Americans will likely go electric for their next vehicle purchase, up from 15 percent in 2017. With lower-than-average ownership costs, increased driving ranges and the latest advanced safety features, AAA sees a strong future for electric vehicles. To help “green” car shoppers make an informed choice, AAA conducts independent, rigorous test-track evaluations of plug-in hybrids, hybrid and fuel-efficient, gas-powered vehicles.

“Today, electric vehicles have mainstream appeal,” said Greg Brannon, AAA’s director of Automotive Engineering. “While concern for the environment is still a major motivator, AAA found U.S. drivers are also attracted to the lower long-term costs and advanced technology features that many of these vehicles offer.”

Perhaps fueling American’s desire for electric vehicles, AAA’s survey found that “range anxiety” is beginning to ease. Among those unsure or unwilling to choose an electric vehicle for their next car, 63 percent (down 9 percent from 2017) cited not enough places to charge as a detractor while 58 percent (down 15 percent from 2017) expressed concern over running out of charge while driving. Not surprisingly, range anxiety is less of a concern for millennials (48 percent) than Generation X or Baby Boomers (64 percent and 66 percent, respectively).

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May 11th, 2018

Posted In: Juggling Dynamite

One Comment

  • Al Jones says:

    The emissions free theme all depends on how emissions free the electricity is that charges the batteries. If the electricity was produced by coal, oil or natural gas, and the generating station has only 60-70% efficiency, and there is a power loss due to a lengthy electrical transmission distance to your charging station, then it’s not so much emission free.

    Only hydro power of wind power would qualify, and nuclear as next in line.

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