An article I wrote a little while ago. It stills holds a lot of relevance till today and may well be a powerful field in the future.
Electric cars nesting their way into our lives?
The economy is slowly recovering from a recession. At the moment consumers are facing higher prices with the onset of higher inflation rates. With the Jasmine revolution and downturns in Japan’s economical condition, there is scarcity of oil in circulation, leading to a rise in prices. The cost-pull inflation effect is hitting car manufactures and leading to decline in sales, because of reduced aggregate demand.
Many auto companies are turning to what they indicate to be a huge sector in the making, and that is electric cars. When consumers buy electric cars they won’t need to worry about skyrocketing oil prices or have concerns about how much they utilize there car everyday. With electric cars, all you need is a socket and you could you get the energy to run your cars. It is also much better for the environment. It can be really intriguing and enticing to own such a car.
A new series known as the Leaf made by Nissan has recently released. Leaf’s sales and profit margin results have been high at the moment. With the shortages in oil, people are resorting to buying electric cars. But the price for these cars are much higher than buying a normal car. The battery itself costs around USD 8,000. The recharging costs are also high. Electricity costs are increasing, especially in densely populated areas and that is a disadvantage. However, in the long run this looks to be a promising industry with a bright future in the making. In the short run it is very hard to speculate, because when oil prices become lower there will be a surge in demand for it. This could leads a diminishing demand for cars like the Leaf. Even so, electric cars are efficient vehicles that could indeed solve some of our many environmental issues in the future.