Want an electric car due to gas prices? Good luck finding one…
Google searches for electric vehicles are up 400% in March; Supply is very low
CHATTANOOGA (WDEF) – Gas prices are on their way down, but some people across America are already fed up with gas, and are looking for electric vehicles.
They’re learning that the cost of getting one is going up, and the chance of getting one is going down. Way down.
Anyone who’s ever taken an economics class knows about supply and demand. If you don’t, here’s what it is…: As the supply of a product goes up, the prices and the demand generally goes down and vice versa. That’s the case right now with electric vehicles. With gas prices as high as they are, the demand for electric cars are at an all-time high. To get one, you’re going to pay…maybe more than you ever thought.
At Mountain View Nissan in South Chattanooga, the dealership is one of the few in the area with electric cars like the Leaf on-hand. Part of the car’s allure is that it costs about 50 percent less than a Tesla, but you’re also about 50 percent less likely to see one on sale.
Hunter Cruse, one of the electric vehicle specialists at Mtn. View Nissan says, “They’re super hard to come by. Luckily, we have about four on the lot right now, and we’re in allocation to get plenty more. They’re one of the more affordable electric vehicles on the market right now, so that’s what kind of makes them super-popular.”
But popularity and affordability can also make them scarce. So much so, Google searches for electric vehicles are up 400 percent this month. What those people learned is that they need a lot of luck to find one.
Cruse: “So, we got these off the truck last night. They won’t last the weekend. The average life expectancy for one of these things on my lot right now is anywhere from 30 minutes to a day. These things go super-quick. We get inquiries on them daily. Really? First-come, first served.”
News 12 spoke with the general manager of two dealerships, and he had a story to tell. At his Ford dealership, a Mustang Mach-E was on its way. Within 30 minutes, a woman called and bought the car. Because of how hard it is to find that car, she got it for five thousand dollars over the sticker price. That amounts to about a 15 to 20 thousand dollar profit.
Let the buyer beware.