In 2016, hybrid (HEV) and electric vehicles (EV) accounted for just one percent of all the vehicles sold worldwide. The industry estimates that by 2025 about 30 percent of all vehicles sold will be EVs and HEVs. Global sales for electric vehicles were up to 3.27 million as of 2019, and are expected to reach about 27 million by 2030.
The rapid growth of electric and hybrid vehicle popularity is considered by many in the industry to be a cataclysmic shift in the auto market. Government incentives, pollution regulations and the affordability of electricity as a fuel source are driving rapid EV adoption.
Auto Makers Committing to EV and HEVIn January 2021, General Motors made history by being the first major U.S. manufacturer to make a total commitment to EV. Their goal is to eliminate gasoline and diesel car, van and SUV production by 2035. GM also wants to be a carbon neutral company
Being in the market to buy a new car can be overwhelming, especially with all the ways to buy a car these days. The internet has made the new and used car market easily accessible to all, but the debate is still ongoing about purchasing a car with 0 miles versus 30,000 miles.
The truth is that buying a car is personal, so the real question is, what is better for you? Most car buyers are focused on value; that is why at Eastern Automotive, we believe buying a used vehicle tends to be the better choice for shoppers.
If you are trying to decide if you should buy a used car or a brand-new car, here are some factors to consider.
New Car Versus Used Care DepreciationWhat is depreciation? It is the reduction of value over time. The rate of depreciation on brand-new vehicles tends to be accelerated. A new car can depreciate
Every driver’s financial situation is unique, especially right now. COVID-19 has been extraordinarily tough on many families. Maybe you’ve had trouble finding work, or one of the normal wage earners in your household has had to forgo regular employment to stay home with your kids during the day.
There are a nearly endless number of reasons for people to be on a tight budget, but many of those reasons won’t prevent you from qualifying for pre-owned vehicle financing.
At Easterns Automotive, helping people in the Baltimore and Washington, D.C. metro areas qualify for great financing is one of the things that sets us apart from the competition.
However, getting a loan and purchasing a used car, truck or SUV may not be your only option. Another service that sets Easterns Automotive apart is our pre-owned vehicle leasing program.
When Might Leasing Be the Right Option for You?Leasing is often the ideal solution for a