After prohibitively high prices have prevented most drivers from purchasing electric cars for several years, increased competition coupled with reduced demand is making electric cars more affordable. Electric cars have been out of the reach of most consumers for nearly a decade thanks to high prices, keeping a majority of drivers from buying EVs and lowering EV adoption rates.
Early adopters and high-earning individuals who love to have the latest technology already own electric vehicles, Edmunds consumer insights analyst Joseph Yoon says, and the…
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