It’s no secret that gas prices are very high right now, so it likely comes as no surprise that car shoppers are now expressing a greater interest in EVs.
According to a recent report from Cox Automotive, EV shopper interest has risen 73 percent between January of this year and the end of May. The rise in EV shopper interest coincides with an average rise in gas prices of 40 percent over the same time period, with EV shopper interest following gas price increases and fluctuations over time.
To note, EV shopper interest in the Cox Automotive report is based on new car visits to the Kelley Blue Book and Autotrader websites, which are up 5.7 percent as of the end of May. Meanwhile, gas prices are based on data from the U.S. Energy Information Administration, which indicates average gas prices of $4.59 per gallon by the end of May.
The rise in gas prices has also spurred greater interest in hybrid and other fuel-efficient vehicles, with customer searches up 25 percent for the former and 33 percent for the latter, comprising of 3 percent of visits and 6.1 percent of visits by the end of May, respectively.
Naturally, GM has a few models on offer that would help customers skip the pump, including the refreshed 2023 Chevy Bolt EV and the all-new 2023 Chevy Bolt EUV. Both models are equipped with a 65 kWh lithium-ion battery and single front-mounted Voltec drive motor, which combine to produce 200 horsepower and 266 pound-feet of torque for the front axle. Range-per-charge is estimated at 259 miles for the Bolt EV, and 247 miles for the Bolt EUV. As GM Authority covered previously, pricing for both all-electric models was recently reduced, with the 2023 Chevy Bolt EV offering up a $5,900 price drop, and the 2023 Chevy Bolt EUV offering up a $6,300 price drop.
For those buyers that don’t want to go all-electric, General Motors also offers several fuel-efficient vehicles, including the Chevy Spark, which is rated at 38 mpg on the highway, and the Chevy Malibu, which is rated at 36 mpg on the highway. Check out our previous coverage of the 2022 GM vehicles with the best fuel economy for more information.