HK Electric Vehicles Saw A 5.4% To 8.4% Increase in 11 days, Dealerships Experiencing Shortages.
The recent surge in global oil prices has dragged down local fuel prices, many car owners and daily drivers complained and raise their concerns regarding the higher fuel costs in the future. Meanwhile, the soaring oil prices have also boosted the EV market. A car sales professional revealed that the increase in oil prices, coupled with the expiration of tax incentives for switching to EV at the end of the month, has led many previously hesitant citizens to favor purchasing EVs. Owners of traditional gasoline and hybrid vehicles have also switched to the EV market, resulting in demand exceeding expectations.
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