Owing to the economic crisis and cheaper oil, it seems the electric cars are running out of business. There was a time when the oil prices were close to $150 a gallon and many were speculating about electric cars becoming the immediate future and cars running on oil to be low on demand. But the rapid price reductions in oil prices and economic turmoil has created a rather unpleasant experience for the electric vehicles.
People who have been cribbing about oil prices have gone back to their old oil consuming ways as their prices have fallen to about $50 a gallon. This has made electric cars which are expensive, less powerful and not so mature to be unattractive options to the buyer.
The companies and dealers who had invested heavily in the electric cars have been repenting their decisions.
The traditional oil consuming cars have also declined due to the economic downturn but it is not as drastic as that of the electric cars.
The popular upcoming electric variants are the GM Volt, upcoming Toyota Prius upgrade and a few others. It is to be noted that GM, Ford and Chrysler are on the verge of bankruptcy if the bailout plans doesn't work out.
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