As California gas prices continue to rise and Gov. Gavin Newsom’s push to ban sales of new gas-powered vehicles by 2035, (which has now been adopted by 14 states), is it time to consider going electric?
Electric vehicles have become more common on the road. Some popular ones include the Hyundai Ioniq 6, Chevrolet’s Bolt EV and Tesla’s Model 3. The early EV adopters’ criticism was they were too expensive for the average consumer and there were not many readily-available ones to choose from. California’s law to ban gas car sales and the help of car manufacturers’ decision to increase the supply of electric SUVs, sedans, hatchbacks and trucks finally allow consumers to find options that best suit their needs.
The convenience of a quiet electric motor is just the start of it. If you are the type of driver who appreciates performance and zippy torque accelerations, their instant throttle responses allow even the least powerful motors to throw you back to your seat at launch starts. With zero tailpipe emissions, no smog checks and lower greenhouse emissions, solo drivers get to enjoy a “clean air vehicle” decal for carpool and HOV lanes on the freeway. Home charging may come with a price depending on the electrician and charging station placed in the home, but nothing spells “convenient” more than waking up to a fully charged car to start your day. It is possible to argue that there are not enough charging stations for everyone, though California is currently on track to have 250,000 chargers installed by 2025.
Comparing America’s best-selling sedan; the Toyota Camry, and the best-selling electric sedan; the Tesla Model 3, can break down how the high initial purchase of an EV may seem intimidating. But after federal tax incentives and California rebates, it may be cheaper than a gas vehicle. Here’s how it works: the base Model 3 is currently $38,990 and the base Toyota Camry LE is $26,420 which is a $12,570 price difference at the start. Most EVs qualify for the $7,500 Federal Tax credit along with the $7,500 California Clean Vehicle Rebate, depending on tax brackets, which can cut the Model 3 cost by $15,000 which ultimately brings the price down to $23,990.There are quite a few table charts that have been updated over the last few years to ensure the accuracy of how the Tesla matches up with the cost of a Camry. Both vehicles do need maintenance from tires, wiper fluid, cabin filters and brake pads. Electric charging stations continue to grow as gas prices continue to rise higher than the national average of $3.202. Although prices can go down over the next few years, the market is showing that EVs will become more common over time which may cause gas station owners to only increase prices to make up for lost consumers due to the EV market.
A majority of electric vehicles have yet to break the top sales rankings, as only now they are becoming more affordable with most car manufacturers finally transitioning to electric and hybrid models. Although, gas vehicles continue to dominate the market with Ford’s F-Series trucks leading the way as the #1 selling vehicle in 2022.
Ford has been one of the top-selling car manufacturers for the last 40 years, but they too have caught onto the movement and begun transitioning to electric models starting with the new Ford F-150 Lightning truck. GMC, Chevrolet and Toyota are in the top 10 selling car manufacturers in the world who have followed the electric vehicle trend which has increased EV sales in the last year, California is at 21.3% ,doubling over the last 2 years. Tesla has played a major role in these sales as the only EVs to break the top 25 selling cars in 2022 with their Model Y (ranked #4) and Model 3 (ranked #12) which could be an early sign of which direction the car market could be headed.
