Tesla introduced its Model 3 sedan in Hawthorne, Calif., in March. The Model 3 is… Electric cars are poised to reduce U.S. gasoline demand by 5% over the next two decades—and could cut it by as much as 20%—according to a new report being released Monday by energy consulting firm Wood Mackenzie. The U.S., which currently uses more than nine million barrels of gasoline a day, could see that demand drop by as much as two million barrels a day if electric cars gain more than 35% market share by 2035, according to the report. That aggressive case assumes Tesla Motors Inc. TSLA -1.13 % and other auto makers begin to deliver lower-cost electric vehicles that can travel longer distances in relatively short order, said the report’s author, Prajit Ghosh. A more likely scenario is a 5% drop in U.S. gasoline demand as electric cars build to more than […]