In a surprising revelation, electric vehicle owners were expressing dissatisfaction with their current EV’s, with some considering a return to traditional gas-powered cars. The sentiments were unveiled in a recent report from the Chase Car channel. Here’s what it said.

EV Owners Are Switching

The video opened with saying, “S&P Global showed that nearly half of EV owners still purchase a gasped car for their next vehicle either as a replacement or as a second vehicle in the household.”

The narrator then delved into surprising reasons that compelled some EV owners to reassess their choice.

The first noteworthy factor was the perceived reliability issues with EVs. Despite promises from manufacturers that EVs are simpler and more reliable due to fewer parts, a Consumer Reports survey revealed that EVs caused 80% more problems than gas-powered cars. Common issues included battery-related problems, affecting both performance and charging, as well as challenges with infotainment systems and software malfunctions.

The Charging Issues

Another aspect contributing to this reconsideration was the satisfaction with home charging. The video shared that despite being considered a significant benefit for EV owners, the convenience of home charging diminished. Rising electricity costs, particularly for faster level two chargers impacted the affordability of home charging, leading to decreased satisfaction among EV owners.

The video then shared that for those without home charging options, the reliance on public charging stations posed its own set of challenges. The inadequacy of the charging network, especially in suburban areas, and extended charging times compared to refueling gas cars contributed to the complexities faced by EV owners.

Additionally, the study indicated that 20.8% of EV drivers experienced charging failures or malfunctions in the first quarter of the previous year, highlighting the unreliability of public charging infrastructure.

The Costs of EVs

The narrator then shared that repair costs emerged as a significant factor prompting a return to gas cars. Repair expenses for EVs were reported to be 56% higher on average than those for traditional vehicles. Limited availability of specialized repair shops and technicians, combined with the complexity of EV components, contributed to the elevated repair costs.

The impact on insurance costs was another aspect gaining attention. Insurance for EVs was considerably more expensive, with examples cited, such as full coverage for a Tesla Model X costing over $4,000 per year, twice the market average. The video said that the increased insurance costs were attributed to the higher vehicle value, expensive repairs, and the propensity for insurance companies to declare total losses after accidents.

Range Anxiety

Despite advancements in EV technology, range anxiety remained a significant concern for owners according to the video. Limited charging infrastructure, combined with the practical challenges of achieving a full charge, contributed to apprehensions about the ability of EVs to meet range expectations.

Price depreciation was also a notable concern for EV owners. The video shared that while discounts were prevalent in the market, the average purchase price of EVs remained notably higher than that of gas-powered cars.

EVs Depreciate Faster

Additionally, EVs tended to depreciate faster, with many models losing around 50% of their value over five years. This contrasted sharply with the market average of approximately 39%, adding to the financial considerations for potential buyers.

In conclusion, the video said, “With that in mind, it doesn’t surprise that there are so many EV owners who changed their minds and went for internal combustion engines.”

So what do you think? Given the challenges, do you believe automakers and policymakers should focus on addressing these concerns to facilitate a smoother transition to electric mobility? Or are these issues inherent to the current state of EV technology?