Future Of The Electric Car Market
Future Of The Electric Car Market

Future Of The Electric Car Market

October 14, 2022
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The history of transportation started from using horses, to boats, to carriages, to the earliest innovation of the wheel, to the space shuttle’s first flight. Transport, in short, has a history that is over 5000 years. Progressions in technology have permitted people to travel farther, and broaden their influence in more areas. The anticipation for electric cars to boom has been around for quite some time, and for the past few years, there is a positive increase in the acquisition of electric cars mostly due to the combat with climate change. So what does this mean for the electric cars market? Does it mean that the future of cars is electric?

Electric cars, otherwise referred to as electric vehicles (EVs) for the sake of more inclusiveness are fully electric means of transportation that rely on batteries for their power. An electric car or all-electric car is an automobile that is stimulated by one or more electric motors, only using energy stored in batteries. Electric cars are less noisy, free of emissions, and have lower carbon footprint overall compared to internal combustion engine (ICE) vehicles.

Reports have it that 6.6 million plug-in electric cars were sold globally in 2021. This makes the record twice as much as 2020 sales. Not only that, but it also secures a market share of 9% of the global new car market.

According to an article by Market Research Future, the electric car market in 2021 was worth $208.95 billion. This is viewed as a number that could more than quadruple to $957.42 billion in the next few years. Increment in fuel prices, and numerous government initiatives, along with surging demand, will push more people toward electric cars. There were only several dozen electric cars available In 2021. The all-electric truck from Rivian is just the beginning. In the last year, manufacturers such as Volvo, Toyota, and Volkswagen all released electric models of their cars.

EVs in the U.S. will rise from roughly 500,000 vehicles in 2021 to over 4 million in 2030. Coupled with the rising government support and consumers embracing electric vehicles, obtaining the supply of the materials necessary for the EV revolution will remain a top priority for the country. The global electric car market is expanding exponentially. Regardless, carmakers must defeat challenges such as rising material costs and conceivable shortages of microchips to maintain market growth.

Technically, electric motors can provide inexpensive or economical operation per mile depending on the price of electricity and gasoline where you live and they are more efficient than gasoline or diesel engines. EVs manage to cost more upfront. For eco-friendly car buyers, EVs are the technology of preference because they have no localized emissions linked to their operation. This means they can be powered with green, renewable energy; and even when powered with energy from nonrenewable sources, they expel less carbon per mile (when identical vehicles are compared).

With pressure mounting from all sides, Ford and General Motors have disclosed they’ll end ICE production by or before 2040. While some traditional car owners haven’t embraced an end to gas and diesel engines it says its goal is to have electric power trains in 50% of new passenger cars and light trucks it sells in the U.S. in 2035 and beyond, with EVs making up for all of its passenger car sales in Europe after 2035. Many import automakers, including Volvo and Mercedes-Benz, have outlined goals similar to GM and Ford, while others, including Volkswagen and Toyota, have said they’ll phase out traditional ICEs, though they may occasionally use internal combustion power plants in some high-performance and hybrids models. It is therefore safe and guaranteed to say that the electric cars market is the future and the next thing is to keep going and make more environmentally friendly and luxurious options.

Signature Auto Group New York & Florida’s Trusted Car Leasing Company
As a company we learned a long time ago just how significant it is to have talented, loyal and motivated staff to serve our clients in every aspect; before, during and of course even after such an important vehicle purchase. Even though this will always be an ongoing process, this organization has been fortunate to have attracted and retain such extraordinary individuals at every single level in this company.

We are honored to serve all Signature Auto Group clients past, present and future clients in the major areas of the United States and around the rest of the world. Signature wants their customers to enjoy life to its fullest. We also have high standards that the staff agrees with and are committed to providing you with the service you deserve. The sales staff is extremely knowledgeable about our products and is there to get you the fantastic vehicle that you want and desire.

Brooklyn, NY’s Leading Car Leasing Dealer & Auto Leasing Broker in New York City

Come on in and check out our extensive inventory that includes all the latest makes and models of vehicles. It doesn’t matter whether you are wanting to purchase or lease; we have the perfect plan for you. And don’t forget to check out our specials, we are always having great lease specials on a lot of the new vehicles in stock.

SIGNATURE AUTO GROUP – BROOKLYN’S PREMIER AUTO LEASING COMPANY

For over two decades, Signature Auto Group has provided proficient lease services. We maintain high ratings on digital platforms such as Cars.com and DealerRater, praised for our excellent customer service and vehicle selection. Initially from the New York area, we have been accredited by both the BBB (Better Business Bureau) and the NYCC (New York Chamber of Commerce).

Now, Signature Auto Group is expanding our services across the New York City area, providing fantastic lease deals for Brooklyn and NYC Drivers. Choose from our wide range of vehicles and secure the necessary insurance and financing all in one place. Our centrally located office is found at 9265 4th Ave, Brooklyn, NY 11209.

If you are tired of the traditional dealership model, Signature Auto Group offers a digital forward experience. Through digital innovation, customers can complete the buying or leasing process from the comfort of their homes. Look through our extensive selection of vehicles, file the appropriate paperwork alongside our experienced representatives, and simply pick a delivery date. Signature Auto Group will deliver your new car delivered straight to your front door.

Reasons to Lease With Signature Auto Group

Signature Auto Group is recognized as the best car leasing company in Brooklyn, New York City, Queens, and surrounding areas. Here are just some of the reasons customers keep coming back to our services.

  • Price Match Guarantee. We work tirelessly to provide the best available prices. We will beat or match the price of any competition in the area. Additionally, we accept discounts provided by both unions and corporations.
  • Convenience. As a one-stop solution, we can provide insurance and financing services to make your purchase convenient.
  • Experience Staff. Our staff has over 60 years of experience in the automotive industry. As such, they can provide a wealth of knowledge and guide you through the buying process.
  • No Hidden Fees. Signature Auto Group prides itself is being upfront about our prices.
  • At-Home Delivery. Adding to our collection of convenience features, we offer the option of an online process, even delivering your new car to your home.
  • Flexible Leases. We offer the traditional 24 and 36-month lease duration. However, we also offer a large selection of lease transfer vehicles, allowing for even shorter lease durations.
  • Easy Financing. Signature Auto Group will use its extensive industry connections and knowledge to secure you a suitable and favorable loan, even if you have poor credit.
  • Great Selection. We are leasing all makes and models in Brooklyn, allowing for an unprecedented amount of vehicles to choose from.
  • Easy To Use Website. Many functions are found throughout our website. You can view our large selection of vehicles, submit information regarding a car you want to sell, contact our staff, and more!

Endless Inventory of the Best Car Leases in New York City

While some dealers are having trouble filling up their lots, we have an abundance of choices. Thanks to Signature Auto Group being the price destination for you to trade in or sell your car in Brooklyn, we are able to maintain a large selection of vehicles.

If your preferred vehicle is not found on our lot, we are also a premier auto broker in Brooklyn. Simply let our team know what car you are looking for, and we’ll start the search. Not only will we find you a car, but we’ll also negotiate on your behalf for the best price. It does not matter if you are pursuing a car for lease or purchasing a new or used car. We will make sure that you’ll be able to find your perfect vehicle.

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