Electric Car Sales Decline Amid Sustained Cheap Gas Prices

April 22, 2015 10:00 AM

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Electric Car Sales Decline Amid Sustained Cheap Gas Prices

How does the price of gas correlate to electric car sales? One might reasonably assume that the higher gas prices go, the more likely battery-powered vehicles are to appeal to the masses. When gas prices are cheap, on the other hand, interest in electric cars would tend to fade, as the difference in the cost of charging versus fueling up shrinks.

Jessica Caldwell, director of industry analysis at Edmunds.com, has said that gas prices “certainly” have an effect on electric car sales. This week, Edmunds released some data that may seem particularly alarming to green car enthusiasts: Thus far in 2015, 22% of owners who traded in hybrid or elect...

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