Soaring oil prices boost electric vehicle sales; dealerships experience shortages
Recent surges in international oil prices have dragged down local fuel prices, causing considerable distress among car owners and daily drivers, who worry about facing higher fuel costs in the future.
The soaring oil prices have also fueled 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 EVs. Owners of traditional gasoline and hybrid vehicles have also switched to the EV market, resulting in demand exceeding expectations.
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