American motorists are more likely than ever to strongly consider an electric vehicle as their next car purchase, according to a recent study conducted by J.D. Power.
The market research firm published findings from its second annual U.S. Electric Vehicle Consideration (EVC) Study this week, which quizzed 10,030 consumers on their feelings toward EVs. J.D. Power says the study is considered “an industry benchmark for gauging EV shopper consideration,” as it gauges EV consideration among consumers by geography, demographics, vehicle experience and use, lifestyle and psychographics.
In this year’s study, the percentage of shoppers who said they are “very likely” to consider an EV for their next purchase or lease climbed four percentage points from last year’s study to 24 percent. J.D. Power says “several factors are at work in prompting the increase,” but the introduction of new electric models, especially those in important and largely untapped segments like pickup trucks, is the main reason behind the increased consumer interest.
“The addition of new EV models has moved the needle on consumer consideration,” Stewart Stropp, senior director of automotive retail at J.D. Power, explained. “In fact, several new models from perennial mass market brands are at the top of that consideration list.”
GM has been one of the most active automakers with regard to releasing new EV products in recent months. Customer deliveries of the GMC Hummer EV Pickup Edition 1 began late last year, while deliveries of the 2023 Cadillac Lyriq Debut Edition will commence this summer. Other highly anticipated EVs it has in the pipeline include the 2024 Chevy Silverado EV, GMC Hummer EV SUV and 2024 Chevy Equnox EV.
Those who own a detached home are much more likely to consider purchasing an EV, with 27 percent of home owners saying they are “very likely to consider,” a battery-powered vehicle of some type. “Not only are homeowners more affluent, on average, but are more likely to be able to charge an EV at their residence,” J.D. Power said in its breakdown of the study. Additionally, 34 percent of those who indicate they are unlikely to consider purchasing an EV say they lack access to any charging capabilities at home or work.
J.D. Power experts believe automakers will be able to convert some unconvinced consumers to EVs “who have never driven, ridden in or even sat in such a vehicle,” by simply offering them a test drive. Only 11 percent of study respondents who had no personal experience at all with EVs said they were “very likely” to consider an EV. That percentage more than doubles to 24 percent among consumers who have simply been a passenger in an EV and rises even further to 34 percent among those who have driven an EV.