NYC Data Science Academy| Blog
Bootcamps
Lifetime Job Support Available Financing Available
Bootcamps
Data Science with Machine Learning Flagship πŸ† Data Analytics Bootcamp Artificial Intelligence Bootcamp New Release πŸŽ‰
Free Lesson
Intro to Data Science New Release πŸŽ‰
Find Inspiration
Find Alumni with Similar Background
Job Outlook
Occupational Outlook Graduate Outcomes Must See πŸ”₯
Alumni
Success Stories Testimonials Alumni Directory Alumni Exclusive Study Program
Courses
View Bundled Courses
Financing Available
Bootcamp Prep Popular πŸ”₯ Data Science Mastery Data Science Launchpad with Python View AI Courses Generative AI for Everyone New πŸŽ‰ Generative AI for Finance New πŸŽ‰ Generative AI for Marketing New πŸŽ‰
Bundle Up
Learn More and Save More
Combination of data science courses.
View Data Science Courses
Beginner
Introductory Python
Intermediate
Data Science Python: Data Analysis and Visualization Popular πŸ”₯ Data Science R: Data Analysis and Visualization
Advanced
Data Science Python: Machine Learning Popular πŸ”₯ Data Science R: Machine Learning Designing and Implementing Production MLOps New πŸŽ‰ Natural Language Processing for Production (NLP) New πŸŽ‰
Find Inspiration
Get Course Recommendation Must Try πŸ’Ž An Ultimate Guide to Become a Data Scientist
For Companies
For Companies
Corporate Offerings Hiring Partners Candidate Portfolio Hire Our Graduates
Students Work
Students Work
All Posts Capstone Data Visualization Machine Learning Python Projects R Projects
Tutorials
About
About
About Us Accreditation Contact Us Join Us FAQ Webinars Subscription An Ultimate Guide to
Become a Data Scientist
    Login
NYC Data Science Acedemy
Bootcamps
Courses
Students Work
About
Bootcamps
Bootcamps
Data Science with Machine Learning Flagship
Data Analytics Bootcamp
Artificial Intelligence Bootcamp New Release πŸŽ‰
Free Lessons
Intro to Data Science New Release πŸŽ‰
Find Inspiration
Find Alumni with Similar Background
Job Outlook
Occupational Outlook
Graduate Outcomes Must See πŸ”₯
Alumni
Success Stories
Testimonials
Alumni Directory
Alumni Exclusive Study Program
Courses
Bundles
financing available
View All Bundles
Bootcamp Prep
Data Science Mastery
Data Science Launchpad with Python NEW!
View AI Courses
Generative AI for Everyone
Generative AI for Finance
Generative AI for Marketing
View Data Science Courses
View All Professional Development Courses
Beginner
Introductory Python
Intermediate
Python: Data Analysis and Visualization
R: Data Analysis and Visualization
Advanced
Python: Machine Learning
R: Machine Learning
Designing and Implementing Production MLOps
Natural Language Processing for Production (NLP)
For Companies
Corporate Offerings
Hiring Partners
Candidate Portfolio
Hire Our Graduates
Students Work
All Posts
Capstone
Data Visualization
Machine Learning
Python Projects
R Projects
About
Accreditation
About Us
Contact Us
Join Us
FAQ
Webinars
Subscription
An Ultimate Guide to Become a Data Scientist
Tutorials
Data Analytics
  • Learn Pandas
  • Learn NumPy
  • Learn SciPy
  • Learn Matplotlib
Machine Learning
  • Boosting
  • Random Forest
  • Linear Regression
  • Decision Tree
  • PCA
Interview by Companies
  • JPMC
  • Google
  • Facebook
Artificial Intelligence
  • Learn Generative AI
  • Learn ChatGPT-3.5
  • Learn ChatGPT-4
  • Learn Google Bard
Coding
  • Learn Python
  • Learn SQL
  • Learn MySQL
  • Learn NoSQL
  • Learn PySpark
  • Learn PyTorch
Interview Questions
  • Python Hard
  • R Easy
  • R Hard
  • SQL Easy
  • SQL Hard
  • Python Easy
Data Science Blog > R > Electric Cars: What's Preventing Mass Adoption?

Electric Cars: What's Preventing Mass Adoption?

Darish Sakeesing
Posted on Feb 7, 2021

If you want to know more about my analysis, I encourage you to visit the app at Shiny App or shoot me a message on LinkedIn. You can also visit my Github repo for the code.

  • LinkedIn
  • GitHub
  • Mail

Problem

Electric Cars are vehicles that are powered, either fully or partially, by a battery instead of a traditional combustion engine. They are a powerful weapon in the fight against climate change as they cut carbon emissions almost completely. Moreover, they are cheaper to operate, as electric cars can be recharged for less than the cost to refuel a traditional car. Even so, the market has not responded well: electric cars have barely captured 1% of the market. In this post, I will investigate the possible reasons why.

Two Types of Electric Cars

Just as there are a variety of technologies available in conventional vehicles, plug-in electric vehicles (also known as electric cars or EVs) have different capabilities tailored to different drivers’ needs. A major feature of EVs is that drivers can plug them in to charge from an off-board electric power source. This distinguishes them from plug-in hybrid electric vehicles (PHEVs), which supplement an internal combustion engine with battery power.

I will consider only EVs in this analysis.

Current Market Share

Despite often making headlines, electric cars have a tiny market share of the entire car sales industry in the United States. The graph below shows impressive growth in the market share of EVs but when we look at the scale to the left, we can clearly see the challenge facing electric cars β€” they barely exceed 1 percent of the entire car sales industry.

EV Market Share Source InsideEvs

Industry Leaders

In investigating the EV market, I found the top three models by total car sales.

EV industry leaders

Unsurprisingly, Tesla wins the gold with its most popular model being the Model 3. We can also see that Nissan and Chevrolet are also doing quite well given how small the market really is. The Nissan Leaf takes third place with a total sales of 132,214, not far behind the Tesla Model S with a total sales of 157,992. There might be a reason why the Tesla Model 3 outperforms the other cars and in order to understand why, we need to investigate what the market actually want.

What People Want in an Electric Car?

A survey of 1000 participants by Castrol found that the average consumer would buy an electric car if it were below $40,000 and had a range of over 319 miles on a single charge. Now that we know this, let's see what is the state of the current market.

Current market
Current Market Source Various Manufacturers websites

In the image above, I plotted the Manufacturer Suggested Retail Price (MSRP) of many cars against their ranges. I also highlighted the area that the survey participants consider to be the sweet spot for an electric car. The chart illuminates the reason why electric cars are not common yet.

We can see that most electric cars fall outside of the "golden zone" with the notable exception of Tesla's Model 3, the most successful electric car by total sales. It is now apparent that car manufacturers are simply not matching the expectations of the market.

There are two reasons why that might be:

  • They do not possess the technology to produce a car in the "golden zone"
  • They have not figured out what the golden zone is.

In my opinion, the former reason is more likely to be true.

Moreover, other external reasons exist that could dissuade people from buying an electric car. Firstly, the charging network could be too sparse to be reliable. Consumers are used to quick and easy refueling and electric cars need to match that comfort level to stand a chance. Secondly, gas prices could be plummeting and thus making combustion engine cars more competitive.

Conclusion

I believe that once the technology reaches a point where manufacturers can make more powerful and long-lasting batteries, more and more cars will fall into the "golden zone" and thus creating a boom in the industry.

About Author

Darish Sakeesing

Darish is a resourceful and results-driven student who is completing a Master’s degree in Data Analytics with a concentration in Databases at the Touro College. He is also a Fellow at the DataScience Academy where he employs machine...
View all posts by Darish Sakeesing >

Related Articles

Capstone
Catching Fraud in the Healthcare System
Data Analysis
Car Sales Report R Shiny App
Data Analysis
Injury Analysis of Soccer Players with Python
Capstone
The Convenience Factor: How Grocery Stores Impact Property Values
Capstone
Acquisition Due Dilligence Automation for Smaller Firms

Leave a Comment

No comments found.

View Posts by Categories

All Posts 2399 posts
AI 7 posts
AI Agent 2 posts
AI-based hotel recommendation 1 posts
AIForGood 1 posts
Alumni 60 posts
Animated Maps 1 posts
APIs 41 posts
Artificial Intelligence 2 posts
Artificial Intelligence 2 posts
AWS 13 posts
Banking 1 posts
Big Data 50 posts
Branch Analysis 1 posts
Capstone 206 posts
Career Education 7 posts
CLIP 1 posts
Community 72 posts
Congestion Zone 1 posts
Content Recommendation 1 posts
Cosine SImilarity 1 posts
Data Analysis 5 posts
Data Engineering 1 posts
Data Engineering 3 posts
Data Science 7 posts
Data Science News and Sharing 73 posts
Data Visualization 324 posts
Events 5 posts
Featured 37 posts
Function calling 1 posts
FutureTech 1 posts
Generative AI 5 posts
Hadoop 13 posts
Image Classification 1 posts
Innovation 2 posts
Kmeans Cluster 1 posts
LLM 6 posts
Machine Learning 364 posts
Marketing 1 posts
Meetup 144 posts
MLOPs 1 posts
Model Deployment 1 posts
Nagamas69 1 posts
NLP 1 posts
OpenAI 5 posts
OpenNYC Data 1 posts
pySpark 1 posts
Python 16 posts
Python 458 posts
Python data analysis 4 posts
Python Shiny 2 posts
R 404 posts
R Data Analysis 1 posts
R Shiny 560 posts
R Visualization 445 posts
RAG 1 posts
RoBERTa 1 posts
semantic rearch 2 posts
Spark 17 posts
SQL 1 posts
Streamlit 2 posts
Student Works 1687 posts
Tableau 12 posts
TensorFlow 3 posts
Traffic 1 posts
User Preference Modeling 1 posts
Vector database 2 posts
Web Scraping 483 posts
wukong138 1 posts

Our Recent Popular Posts

AI 4 AI: ChatGPT Unifies My Blog Posts
by Vinod Chugani
Dec 18, 2022
Meet Your Machine Learning Mentors: Kyle Gallatin
by Vivian Zhang
Nov 4, 2020
NICU Admissions and CCHD: Predicting Based on Data Analysis
by Paul Lee, Aron Berke, Bee Kim, Bettina Meier and Ira Villar
Jan 7, 2020

View Posts by Tags

#python #trainwithnycdsa 2019 2020 Revenue 3-points agriculture air quality airbnb airline alcohol Alex Baransky algorithm alumni Alumni Interview Alumni Reviews Alumni Spotlight alumni story Alumnus ames dataset ames housing dataset apartment rent API Application artist aws bank loans beautiful soup Best Bootcamp Best Data Science 2019 Best Data Science Bootcamp Best Data Science Bootcamp 2020 Best Ranked Big Data Book Launch Book-Signing bootcamp Bootcamp Alumni Bootcamp Prep boston safety Bundles cake recipe California Cancer Research capstone car price Career Career Day ChatGPT citibike classic cars classpass clustering Coding Course Demo Course Report covid 19 credit credit card crime frequency crops D3.js data data analysis Data Analyst data analytics data for tripadvisor reviews data science Data Science Academy Data Science Bootcamp Data science jobs Data Science Reviews Data Scientist Data Scientist Jobs data visualization database Deep Learning Demo Day Discount disney dplyr drug data e-commerce economy employee employee burnout employer networking environment feature engineering Finance Financial Data Science fitness studio Flask flight delay football gbm Get Hired ggplot2 googleVis H20 Hadoop hallmark holiday movie happiness healthcare frauds higgs boson Hiring hiring partner events Hiring Partners hotels housing housing data housing predictions housing price hy-vee Income industry Industry Experts Injuries Instructor Blog Instructor Interview insurance italki Job Job Placement Jobs Jon Krohn JP Morgan Chase Kaggle Kickstarter las vegas airport lasso regression Lead Data Scienctist Lead Data Scientist leaflet league linear regression Logistic Regression machine learning Maps market matplotlib Medical Research Meet the team meetup methal health miami beach movie music Napoli NBA netflix Networking neural network Neural networks New Courses NHL nlp NYC NYC Data Science nyc data science academy NYC Open Data nyc property NYCDSA NYCDSA Alumni Online Online Bootcamp Online Training Open Data painter pandas Part-time performance phoenix pollutants Portfolio Development precision measurement prediction Prework Programming public safety PwC python Python Data Analysis python machine learning python scrapy python web scraping python webscraping Python Workshop R R Data Analysis R language R Programming R Shiny r studio R Visualization R Workshop R-bloggers random forest Ranking recommendation recommendation system regression Remote remote data science bootcamp Scrapy scrapy visualization seaborn seafood type Selenium sentiment analysis sentiment classification Shiny Shiny Dashboard Spark Special Special Summer Sports statistics streaming Student Interview Student Showcase SVM Switchup Tableau teachers team team performance TensorFlow Testimonial tf-idf Top Data Science Bootcamp Top manufacturing companies Transfers tweets twitter videos visualization wallstreet wallstreetbets web scraping Weekend Course What to expect whiskey whiskeyadvocate wildfire word cloud word2vec XGBoost yelp youtube trending ZORI

NYC Data Science Academy

NYC Data Science Academy teaches data science, trains companies and their employees to better profit from data, excels at big data project consulting, and connects trained Data Scientists to our industry.

NYC Data Science Academy is licensed by New York State Education Department.

Get detailed curriculum information about our
amazing bootcamp!

Please enter a valid email address
Sign up completed. Thank you!

Offerings

  • HOME
  • DATA SCIENCE BOOTCAMP
  • ONLINE DATA SCIENCE BOOTCAMP
  • Professional Development Courses
  • CORPORATE OFFERINGS
  • HIRING PARTNERS
  • About

  • About Us
  • Alumni
  • Blog
  • FAQ
  • Contact Us
  • Refund Policy
  • Join Us
  • SOCIAL MEDIA

    Β© 2025 NYC Data Science Academy
    All rights reserved. | Site Map
    Privacy Policy | Terms of Service
    Bootcamp Application