The Expert Podcast

So how big a deal is the change from gas to electric vehicles? There's an article from the front of the Wall Street Journal where automakers are fast forwarding their transition into battery-powered vehicles. The signature vehicle changing over is the Chevrolet Silverado, the keystone vehicle of the Chevy truck line. Here is a vehicle that was released as a prototype vehicle they're going to begin selling it in 2023. It's an electric version of the top selling Silverado.

When you see a major truck manufacturer like Chevrolet switching their Silverado over to electric, that's going to tell you something and that's going to shift the market. Battery-powered vehicles dominated consumer electronics in Las Vegas. It's the latest sign that EVs are the wave of the future and in auto industry obviously that's very common, but even in other areas it's happening quickly.

Even though it's barely noticeable in the showrooms, behind the scenes the switch over from gas to electric is huge. We did an article the other day about how Hyundai is completely stopped developing new gas engines for vehicles. Whatever they have for gas engines now they're going to run out to clock on those and go to electric. Companies are pouring money into development of electric vehicles and battery factories right. Transition is also creating new rivalries and it's shaking up the auto world.

New vehicle EVs are going to be a hundred percent of vehicles within five or six years and the used electric market is going to explode. And checking these batteries out and having markets for these old vehicles are going to be crucial. The Ford Lightning is probably going to be the first one out, but by the time the next one to two years, 24 months rolls around, electric vehicles are going to be completely ubiquitous in the marketplace.

So keep your eyes peeled for developments in electric vehicles, but also how to adjust your buying habits to make sure that any differences in the purchase process are reflected in how you approach it so you end up with the right kind of vehicle. And if it's a used electric vehicle you purchase it the right way so that you don't get stuck with a lemon or a car with a dead battery.