As previously covered by GM Authority, almost 4,000 dealerships across the United States sent a letter to President Biden requesting that he ease his push for the proposed EV mandate, citing stagnant levels of demand for electric vehicles that is leading to a backlog on dealer lots. Now, a new study has found that one out of four U.S. adults would consider an all-electric vehicle.
According to a study by AAA, 25 percent of adults across the United States claim that they would be likely – or very likely – to purchase an EV as their next vehicle the next time they’re in the market. Of those who responded likely or very likely, 76 percent cited a desire to save on the cost of fuel, while 60 percent pointed to concern for the environment.
The study also found that Millennials are more likely to say they would buy an EV for their next vehicle (31 percent), as compared to Generation X (21 percent) and Baby Boomers (18 percent).
Of those who are interested in purchasing an all-electric vehicle, 58 percent are more inclined to purchase a brand-new vehicle, while 26 percent would buy used. Interestingly, 16 percent of responders were unsure if they would buy new or used.
Of course, there were some concerns expressed over EVs, including cost (59 percent), lack of charging stations (56 percent), cost to replace or repair the battery (55 percent), and range anxiety (53 percent). All of these factors serve as primary barriers to the widespread adoption of electric vehicles, especially for those who are undecided or unlikely to purchase an EV.
Another 40 percent of consumers cited the impact cold weather can have on battery range as a concern.
It’s worth noting that EV sales topped the 300,000-unit mark over the course of Q3 2023, reflecting a new quarterly record for electric vehicles. Looking forward, sales are expected to reach one million units in the U.S. in 2023, which would represent roughly seven percent of the overall light-vehicle market.