Latest news with #GregBrannon
Yahoo
03-06-2025
- 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
03-06-2025
- 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
