EV Sales Hit New Heights But Fall Short of Lofty Predictions
• EV sales hit record highs in 2022, topping 1 million vehicles sold in the US for the first time
• But sales fell short of optimistic projections, leading to scaled-back forecasts for future growth
• High prices, lack of public charging infrastructure, and confusing tax credits are holding back faster EV adoption
• Automakers are now investing in more affordable EVs, expanding charging networks, and simplifying purchase incentives
• Leasing may become more popular as it allows more consumers to access EV tax credits