Electric Cars Will Not Be the Holy Grail for Car Manufacturers

Looks like drivers won’t be switching anytime soon to electric cars. In a Deloitte LLP survey, it found that electric vehicles only meet the expectations of four percent or less of consumers. The global consulting firm surveyed 13,000 people from 17 countries.

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From the U.S respondents, 77 said that the one hour-plus to recharge the vehicles is unacceptable. The survey further disclosed that electric vehicles cost too much and they don’t go far enough when they’re fully charged. On a positive note, consumers in China (NYSE:FXI), Brazil (NYSE:EWZ), India (NYSE:IFN),¬†and Turkey had the highest interest in the cars.

The disappointing survey results weighed on these auto stocks most of the day: Tesla Motors (NASDAQ:TSLA), General Motors Company (NYSE:GM) and Toyota Motor Corporation (NYSE:TM).

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