Will You Buy An EV? Despite Biden's 'All Electric' By 2032 Push, Americans Aren't Buying It

A new study from S&P Global Mobility and reporting by CNBC has revealed a trend that directly bucks the Biden administration's drive to force Americans into buying only electric cars by 2032. It turns out that fewer Americans are opting to buy new cars and are instead keeping their cars on the road longer.

The outlet reported that "amid low supplies of new vehicles and sky-high prices," car owners are keeping their cars longer. Michael Wayland writing for CNBC explained that the average age of a light-duty vehicle in the U.S. increased by three months on average, the highest since the 2008-2009 'Great Recession,' with the average vehicle age now sitting at 12.5 years as of January 1st. Citing the S&P Mobility report, he wrote, "That includes a 3.8% increase for passenger cars to 13.6 years and a 1.7% uptick in trucks, SUVs, and crossovers to 11.8 years."

Furthermore, with the costs of new vehicles high and inventory low, coupled with interest rates that have increased ten times since March 2022, according to the outlet, more people than ever are buying used vehicles. CNBC further cited Cox Automotive reporting that the average price of a used car is up to $26,799 as of April, and the average cost per transaction increased by $1,744 up 3.7% to $48,275.

WATCH: GUTFELD ERUPTS AT GERALDO AFTER THE WEALTHY RINO COMMENTATOR TOUTS BUYING LUXURY ELECTRIC CAR 

President Joe Biden told the nation in April, "There’s a vision of the future that is now beginning to happen, a future of the automobile industry that is electric — battery electric, plug-in hybrid electric, fuel cell electric," while pitching a new policy that would require carmakers to move 66 percent of their sales to all-electric vehicles by 2032, according to The New York Times.

Coral Davenport writing for the Times explained, "The proposed rule would not mandate that electric vehicles make up a certain number or percentage of sales. Instead, it would require that automakers make sure the total number of vehicles they sell each year did not exceed a certain emissions limit. That limit would be so strict that it would force carmakers to ensure that two-thirds of the vehicles they sold were all-electric by 2032, according to the people familiar with the matter."

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