Are electric vehicle sales really losing their charge?

Conventional wisdom says electric cars are on the decline, but some experts say this may not be the case

Chevy Volts charging at a dealership in Illinois
Some electric vehicles, such as the Chevy Volt, have become ubiquitous on American roads
(Image credit: Daniel Acker / Bloomberg via Getty Images)

If there's been any trend in the auto industry over the past decade, it's undoubtedly the rise of electric cars. The majority of automakers now offer some form of a gas-free vehicle. A new electric car, once seen as a luxury item, can now be purchased for less than $30,000

However, the majority of electric vehicles (EVs) are still significantly more expensive than their gas-powered counterparts, and it seems some industry analysts are pointing toward an overall decline in electric car sales as a result. A recent report in The Wall Street Journal noted that "automakers and dealers are slashing prices and piling on discounts to clear out unsold inventory" because "sales growth has slowed for battery-powered models." Some automakers are also offering significant cash rebates for people who buy EVs. 

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Justin Klawans, The Week US

 Justin Klawans has worked as a staff writer at The Week since 2022. He began his career covering local news before joining Newsweek as a breaking news reporter, where he wrote about politics, national and global affairs, business, crime, sports, film, television and other Hollywood news. Justin has also freelanced for outlets including Collider and United Press International.