While auto dealerships are trying to keep their sales lots stocked with new and used cars, the auto industry is getting turned upside down. Any time a new technology comes into the market, there’s a bit of a learning curve. From the popularity of microwaves to personal computers to smartphones, people jump at the chance to own new tech, so companies jump in head first.
The electric car market is no different. There are currently 33 different electric vehicles on sale in the United States, and there are more to come. These EVs cover compact cars, family SUVs, and job site pickup trucks. Shoppers in North America alone are expected to purchase 1.4 million electric vehicles this year.
To help customers make sense of the mad rush of EVs coming to market, Bloomberg created the Bloomberg Green Electric Car Ratings.
Not All Shades of Green Are The Same
Even though electric cars are cleaner and more efficient than conventional gas-powered new and used cars, that doesn’t mean these rigs don’t come with a carbon cost. The reality is that there isn’t such thing as a zero-emissions vehicle.
From the steel parts that make up the vehicle’s body to the lithium used to build batteries to the electricity captured in solar panels, every aspect of creating an EV comes with a carbon expense.
This revelation isn’t an argument against electric cars, but it does motivate shoppers to know more about how eco-friendly their favorite EVs truly are.
The Bloomberg Green Electric Car Rating
To help compare green apples to green apples, Bloomberg created a system that explores the eco-friendliness of each EV available right now. The rating takes into consideration things like the economy of the vehicle, how much it weighs, how far it can travel on a full charge, and the size of the battery.
The majority of the score (roughly 70%) comes from the car’s economy. The rest deals with the carbon footprint created from manufacturing and maintaining it.
The Tesla Model 3 Long Range currently tops the list. At the bottom of the list is the GMC Hummer EV. This rating doesn’t necessarily mean one vehicle is better than the other in all cases; it just shows which ones are more eco-friendly. The Hummer EV, for example, is built to take on various terrains off of the paved road. It’s going to use its battery much faster than a Tesla made for the highway.
The Challenge Facing Auto Makers
For most of the major auto manufacturers, there’s almost a conflict of interest. None of the major players want to miss out on the upcoming electric craze, but they also don’t want to overlook their current new and used cars for sale.
Companies like Tesla and Rivian have a slight advantage as they only work with EVs. At the same time, not every driver is ready to go electric, which means gas-powered new and used cars are still a very important part of the industry.
For those ready to go green, the Bloomberg Green Electric Scale will help make better comparisons and better decisions.
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