Published on 28 Feb 2024 on Insider Monkey via Yahoo Finance
15 Best Fuel Efficient Cars Under $30K
In this article, we discuss the 15 best fuel-efficient cars under $30K. To skip the detailed analysis of the automotive industry, go directly to the 5 Best Fuel Efficient Cars Under $30K.
The automotive industry is changing rapidly due to the fast pace of technology growth. Over the last few years, oil and gas prices have been quite volatile, and there has been a growing trend of moving toward alternative fuel sources to power our vehicles. According to one of our reports from 2023, the International Energy Agency (IEA) predicted 14 million electric vehicle (EV) sales in 2023. While the sales didn’t exactly hit IEA’s target, it certainly came close with 13.6 million EV sales worldwide. Reuters reported that EV sales growth was 31% in 2023, compared to 60% in 2022.
In the US, EV sales growth was quite significant, and a record 1.2 million units were sold in the country in 2023. The US also has one of the most extensive charging infrastructures in the world. By 2022, the US had installed 6,300 fast chargers, reaching a total of 28,000 by the end of the year, and in 2023, a plan for the installation of 500,000 electric vehicle chargers was announced by the government.