Latest news with #2025U.S.ElectricVehicleConsiderationStudy
Yahoo
3 days ago
- Automotive
- Yahoo
Americans Are Growing Less Interested in Buying Electric Vehicles, Study Says
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." There has never been a better selection of electric vehicles on dealer lots than there is today. In the last four years alone, some 75 new all-electric models have arrived in the United States across the many automotive brands on the market. Yet while that might seem like a positive sign for the emerging segment, a recent study by AAA suggests American interest in EVs is at its lowest rate since 2019. The study, which looked into the likelihood of purchasing an EV and the factors behind that decision, was completed in March of this year and spanned 1128 interviews. AAA found that only 16% of U.S. adults reported being 'very likely' or 'likely' to purchase an EV as their next car — the lowest that figure has been since before the COVID-19 pandemic. Conversely, the percentage of adults who stated they are 'unlikely' or 'very unlikely' to purchase an EV as their next vehicle has grown from 51% to 63% in the last four years. The survey suggests there is still quite a bit of hesitation surrounding EVs when it comes to the buying public, with a few specific areas of concern. AAA says that high battery repair costs (62%) and a higher purchase price (59%) were the two most-cited reasons for not considering an EV purchase. Other respondents noted a perceived inability for EVs to handle long travel (57%), which seemingly relates to general charging fears. Respondents also pointed to a lack of convenient public charging (56%) and a fear of being left with a flat battery on the roadside (55%). Additionally, 27% of respondents claimed to have issues installing charging at their own residence. 'Since we began tracking interest in fully electric vehicles, we've seen some variability,' said Greg Brannon, director of automotive engineering for AAA. 'While the automotive industry is committed to long-term electrification and providing a diverse range of models, underlying consumer hesitation remains.' The public's confidence in the growth of the EV segment seems to be slowing, as well. The study suggests that the number of people who believe that EVs will overtake gasoline vehicles in the next decade has dropped from 40% in 2022 to just 23% today. The recent J.D. Power 2025 U.S. Electric Vehicle Consideration Study — which covers people who intend to buy or lease a new vehicle in the next year, versus the AAA's study that is meant to be representative of the U.S. population overall — paints a bit of a different picture, however. The analytics firm says 24% of vehicle shoppers in the States are 'very likely' to consider purchasing an EV; an additional 35% said they are 'somewhat likely' to do so, which J.D Power says is unchanged from last year. That said, the firm did note that charging infrastructure remains a pain point with the majority of respondents (52%). J.D. Power's results do contrast the purchase price claims made by the AAA study to a certain degree, stating only 43% are staying away from EVs due to the high purchase prices. Considered together, the two studies suggest the American public as a whole isn't as jazzed about EVs as they might have once been. The market always speaks its mind, but such a rejection could have lasting impacts on the automotive industry and its key players. Where do you stand on the issue? What is the main thing pushing you towards or away from EV ownership? Let us know in the comments down below. You Might Also Like You Need a Torque Wrench in Your Toolbox Tested: Best Car Interior Cleaners The Man Who Signs Every Car
Yahoo
3 days ago
- Automotive
- Yahoo
Americans Are Growing Less Interested in Buying Electric Vehicles, Study Says
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." There has never been a better selection of electric vehicles on dealer lots than there is today. In the last four years alone, some 75 new all-electric models have arrived in the United States across the many automotive brands on the market. Yet while that might seem like a positive sign for the emerging segment, a recent study by AAA suggests American interest in EVs is at its lowest rate since 2019. The study, which looked into the likelihood of purchasing an EV and the factors behind that decision, was completed in March of this year and spanned 1128 interviews. AAA found that only 16% of U.S. adults reported being 'very likely' or 'likely' to purchase an EV as their next car — the lowest that figure has been since before the COVID-19 pandemic. Conversely, the percentage of adults who stated they are 'unlikely' or 'very unlikely' to purchase an EV as their next vehicle has grown from 51% to 63% in the last four years. The survey suggests there is still quite a bit of hesitation surrounding EVs when it comes to the buying public, with a few specific areas of concern. AAA says that high battery repair costs (62%) and a higher purchase price (59%) were the two most-cited reasons for not considering an EV purchase. Other respondents noted a perceived inability for EVs to handle long travel (57%), which seemingly relates to general charging fears. Respondents also pointed to a lack of convenient public charging (56%) and a fear of being left with a flat battery on the roadside (55%). Additionally, 27% of respondents claimed to have issues installing charging at their own residence. 'Since we began tracking interest in fully electric vehicles, we've seen some variability,' said Greg Brannon, director of automotive engineering for AAA. 'While the automotive industry is committed to long-term electrification and providing a diverse range of models, underlying consumer hesitation remains.' The public's confidence in the growth of the EV segment seems to be slowing, as well. The study suggests that the number of people who believe that EVs will overtake gasoline vehicles in the next decade has dropped from 40% in 2022 to just 23% today. The recent J.D. Power 2025 U.S. Electric Vehicle Consideration Study — which covers people who intend to buy or lease a new vehicle in the next year, versus the AAA's study that is meant to be representative of the U.S. population overall — paints a bit of a different picture, however. The analytics firm says 24% of vehicle shoppers in the States are 'very likely' to consider purchasing an EV; an additional 35% said they are 'somewhat likely' to do so, which J.D Power says is unchanged from last year. That said, the firm did note that charging infrastructure remains a pain point with the majority of respondents (52%). J.D. Power's results do contrast the purchase price claims made by the AAA study to a certain degree, stating only 43% are staying away from EVs due to the high purchase prices. Considered together, the two studies suggest the American public as a whole isn't as jazzed about EVs as they might have once been. The market always speaks its mind, but such a rejection could have lasting impacts on the automotive industry and its key players. Where do you stand on the issue? What is the main thing pushing you towards or away from EV ownership? Let us know in the comments down below. You Might Also Like You Need a Torque Wrench in Your Toolbox Tested: Best Car Interior Cleaners The Man Who Signs Every Car
Yahoo
4 days ago
- Automotive
- Yahoo
Consumers sustain interest in EVs but range anxiety still a concern
This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Tariffs and political uncertainty have disrupted the automobile market, but consumers are no less likely to consider purchasing electric vehicles, according to a recent study by J.D. Power. The 2025 U.S. Electric Vehicle Consideration Study, released May 15, found that 59% of vehicle shoppers said they were at least somewhat likely to consider an EV — the same rate the study reported one year ago. Between January and April 2025, J.D. Power surveyed 8,164 people who were planning to purchase a vehicle within a year on their intent to consider an EV. Per the report, 24% of shoppers said they were 'very likely' to consider purchasing an EV, while 35% said they were 'somewhat likely.' In fact, according to April Cox Automotive data, the EV market continues to grow. Compared to the same period last year, U.S. EV sales increased 11.4% in the first quarter of 2025. 'Despite the market volatility, EVs have found a solid ground for consumer consideration,' Brent Gruber, executive director of the EV practice at J.D. Power, said in a statement. J.D. Power's findings shed light on consumer wants and needs, including the ways people shop for EVs and their biggest concerns with the vehicles. For instance, EV shoppers are likely to look at more vehicle brands — 'cross-shop' — than those shopping for ICE vehicles. The study reported that those likely to consider EVs look at an average 2.8 or 2.9 brands, while a previous J.D. Power study found that people shopping for gas-powered vehicles considered an average of 2.5 brands. 'As more EV options come to market, this should serve as an encouraging sign for automakers because it's an opportunity for them to gain a foothold and pull shoppers from outside their brands,' Gruber said, adding that the study revealed that EV shoppers also consider EVs from both mass market and luxury brands. Yet range anxiety remains a key concern, as 52% of vehicle shoppers cited charging station availability as a reason to forgo purchasing an EV. At the same time, another long-standing concern with EVs — their expense — fell in importance. The study found that 43% of shoppers said EV purchase price was a reason to avoid buying an EV, compared to 47% last year. In addition, 33% of shoppers stated they were concerned with EV cost of ownership, compared to 35% of shoppers in 2024. Much of the growth in EV sales can be attributed to more affordable, mass-market automakers such as General Motors. Still, the issue of EV affordability might box out the age group most interested in purchasing them — younger shoppers ages 25-49. 'It's an interesting dichotomy because younger consumers are the most receptive to EVs, but also the least likely to be able to afford them, while older consumers have the financial means but show less interest,' Gruber said. According to Gruber, the industry needs to focus on affordability and consumer education to continue to drive EV growth. Less expensive EVs would address what he described as the 'pent-up demand for more affordable products,' while improving consumer education could 'ease concerns' about EV ownership, as many, like public charging availability, 'are less problematic than they might seem when it comes to actually owning an EV,' he said. Recommended Reading New York expands EV purchase, charging equipment incentives
