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What's Ahead For The Electric Car Market

What’s Ahead For The Electric Car Market

It is marvelous what technology has done, is doing, and will do in the life of mankind. The anticipation for electric cars to boom has been around for quite some time, and for the past few years, there is a positive increase in the acquisition of electric cars mostly due to the combat with climate change. So what does this mean for the electric cars market? Does it mean that the future of cars is electric?

The history of transportation started from using horses, to boats, to carriages, to the earliest innovation of the wheel, to the space shuttle’s first flight. Transport, in short, has a history that is over 5000 years. Progressions in technology have permitted people to travel farther, and broaden their influence in more areas.

Electric cars, otherwise referred to as electric vehicles (EVs) for the sake of more inclusiveness are fully electric means of transportation that rely on batteries for their power. An electric car or all-electric car is an automobile that is stimulated by one or more electric motors, only using energy stored in batteries. Electric cars are less noisy, free of emissions, and have lower carbon footprint overall compared to internal combustion engine (ICE) vehicles.

Reports have it that 6.6 million plug-in electric cars were sold globally in 2021. This makes the record twice as much as 2020 sales. Not only that, but it also secures a market share of 9% of the global new car market.

According to an article by Market Research Future, the electric car market in 2021 was worth $208.95 billion. This is viewed as a number that could more than quadruple to $957.42 billion in the next few years. Increment in fuel prices, and numerous government initiatives, along with surging demand, will push more people toward electric cars. There were only several dozen electric cars available In 2021. The all-electric truck from Rivian is just the beginning. In the last year, manufacturers such as Volvo, Toyota, and Volkswagen all released electric models of their cars.

EVs in the U.S. will rise from roughly 500,000 vehicles in 2021 to over 4 million in 2030. Coupled with the rising government support and consumers embracing electric vehicles, obtaining the supply of the materials necessary for the EV revolution will remain a top priority for the country. The global electric car market is expanding exponentially. Regardless, carmakers must defeat challenges such as rising material costs and conceivable shortages of microchips to maintain market growth.

Technically, electric motors can provide inexpensive or economical operation per mile depending on the price of electricity and gasoline where you live and they are more efficient than gasoline or diesel engines. EVs manage to cost more upfront. For eco-friendly car buyers, EVs are the technology of preference because they have no localized emissions linked to their operation. This means they can be powered with green, renewable energy; and even when powered with energy from nonrenewable sources, they expel less carbon per mile (when identical vehicles are compared).

With pressure mounting from all sides, Ford and General Motors have disclosed they’ll end ICE production by or before 2040. While some traditional car owners haven’t embraced an end to gas and diesel engines it says its goal is to have electric power trains in 50% of new passenger cars and light trucks it sells in the U.S. in 2035 and beyond, with EVs making up for all of its passenger car sales in Europe after 2035. Many import automakers, including Volvo and Mercedes-Benz, have outlined goals similar to GM and Ford, while others, including Volkswagen and Toyota, have said they’ll phase out traditional ICEs, though they may occasionally use internal combustion power plants in some high-performance and hybrids models. It is therefore safe and guaranteed to say that the electric cars market is the future and the next thing is to keep going and make more environmentally friendly and luxurious options.

Fort Lauderdale’s Most Trusted Car Leasing Company

If you’re looking for car leasing in Fort Lauderdale or the Miami area, Signature Auto Group Florida is the place to be. As a leading leasing broker, we help customers with early lease exits, lease swaps, new leases, and everything in between. With two decades of experience in the New York area collected, our company is confidently expanding its expertise to the South Florida region.

Becoming the go-to company for early lease exits in Miami and Fort Lauderdale is no easy task, but with our commitment to customer service led by a motivated staff, our entry is already favored by most. Standing by you every step of the way, our company strives to guide you in the right direction. Whether buying, leasing, or selling, a dedicated team member is here to attend and impress.

Along with our excellent staff, Signature Auto Group Florida offers a diverse array of services, separating itself from other car dealers in South Florida.

Car Leasing Florida

Serving areas from Aventura to Boca Raton, our reach is vast. As such, our inventory is built to serve all types of clients. With an impressive list of available cars for lease in Miami, we have a special vehicle for everyone.

Leasing a car is beneficial for many consumers. It provides a way to save on costs while evading any long-term commitments. Drivers remain open to the possibility of new vehicles, always able to keep their driveways fresh.

With our extensive industry knowledge and decades-long relationships, we’ve been able to build one of the most desirable inventories around. With most makes and models available, our lot is the only place you need to visit for your next lease.

Contact Signature Auto Group Florida Today!

Signature Auto Group is the best destination for car leasing in the Fort Lauderdale and Miami area. We offer an extensive inventory made up of all makes and models, along with an experienced staff dedicated to making your next visit pleasant and straightforward.

We aim to provide as many avenues of communication as possible, allowing you to interact with our team in a manner that is most comfortable to you. Regardless of the question, feel free to email us directly at info@signatureautofl.com or use the built-in contact form. If you prefer a call instead, you can reach our team at (561) 709-2277.

You can also stop by our location to speak with us in person. We are located at 291 E Commercial Blvd, Fort Lauderdale, FL 33334.

Fort Lauderdale, Florida Car Leasing Return Center

If you have an car lease that is due to reach maturity, we at Signature Auto Group Florida can accept your lease return even if you did not lease it from us, all makes and models!  Let us guide you through the process of turning in your current lease as well as provide all the information you need on leasing a new car.

If your lease is maturing soon, we suggest that a pre-inspection of your vehicle is conducted.  This inspection will evaluate your vehicle’s condition using the Vehicle Condition Guidelines.  After the inspection, we’ll provide you with a Vehicle Inspection Report, documenting your vehicle’s condition at that time. Save Big by returning your car with Signature Auto Group.

Fort Lauderdale, Florida Car Lease Transfer

lease transfer works by allowing one driver to transfer their lease to another, who must qualify for credit approval with the finance company. A lease transfer is a simple process in which the name on a lease account is changed for the duration of the term. Other than the registered driver and the name on the lease, the remainder of the lease contract is unchanged. This includes mileage restrictions, wear-and-tear restrictions and the total length of the lease in months.

Fort Lauderdale Early Car Lease Buyout

Want to get out of your car lease early and into another car? Signature Auto Group Florida offers an early lease buyout program just for you. When you are leasing a vehicle, you can purchase your vehicle before the end of the lease contract. There are some instances when your car may be worth more on the market than your buyout price, and in this instance, you can actually make a profit!

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