Electric cars are causing a real buzz. In just a few years they’ve gone from being a niche vehicle to a mainstream ride. But even though electric cars seem like they are popping up everywhere they only account for 1% of the cars being driven in the US.
Momentum is building fast though. By 2035, it is predicted that electric cars will make up a quarter of all car sales. This will amount to about 13% of cars on the road (because most of us will still be rolling around in an old gas guzzler).
More car manufacturers are pledging to pivot entirely to electric cars, and more drivers are jumping on the (electric) bandwagon thanks to government incentives. It’s great for our planet and the air we breathe—but with all the excitement, it can be hard to tell how fast things are really moving.
Because gas cars can run for 20 years, it will take a while for them to all leave the roads completely. One thing we can say now is that it's a trend that’s accelerating. Manufacturers are now adding cheaper, pure battery electric vehicles that are due to debut in 2024. With every year you can expect more drivers to get on board.
Not just yet. Even in California, which is pushing forward with the most ambitious plans to phase out gas guzzlers, you will still be able to drive your gas car after 2035, and buy used ones too. It will also be possible to buy new hybrids after the cut off.
But as momentum for electric cars builds, you might see the introduction of new rules and policies in the years to come. Slowly but surely, gas cars are on the way out.
For the time being the impact on traditional vehicles is small—it’s going to be another decade before they really start to dominate the market—but as new laws draw closer gas cars will start to lose value, meaning more drivers will want to sell and make the jump to electric while they can still make a good deal. This process is being sped up by extra incentives for buying an electric car. Right now, if you buy a new plug-in electric car, you can take advantage of a federal tax credit of up to $7,500.
Ultimately, the value of gas cars is going to go down and it’s going to get harder to sell them. If you’ve been thinking about going green and taking advantage of the various incentives, sooner is probably better than later. Peddle is happy to help you score some extra funds to make the switch. Gas or electric, when it comes to buying old cars, we’re fast as lightning.