• Several new electric vehicles will be added to the local market in 2022, but the uptake in this segment is still very slow.
• Most EVs are incredibly expensive and not in reach for the average new car buyer.
• South Africa needs to revise its tax import on EVs to help make these cars more accessible to more locals.
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Most new ideas and technologies follow the S-Curve of Adoption. This means that early take-up of new "stuff" is usually slow due to ignorance, lack of initial public feedback and, often, cost. However, when that product is innovative, better, potentially cheaper, it will slowly get traction. The demand/sales will increase along a gradually rising line to a point when the public adopts the new and crazy idea.
With increasing penetration in the market, the costs begin to fall, and word of mouth recommendations start creating a virtuous circle.