Meanwhile, an increasing number of drivers are sensing the tingling of electricity. There is a record level of interest in turning electric, according to a recent Consumer Reports study. 71% of respondents to the nationally representative survey of 8,027 American consumers indicated some interest in purchasing or leasing an electric vehicle. Of those, 14% would unquestionably choose one if they were in the market for a car right now, 22% would give it serious consideration, and 35% might consider one.
In contrast to the 4% of respondents who indicated they would certainly switch to electric vehicles in CR’s 2020 study, 14% of respondents stated they would. The real kicker is this: The most recent study was conducted in late January and early February, when a gallon of regular gasoline cost, on average, between $3.34 and $3.52. According to AAA , the average price right now is around $4.48.
What inspires people to purchase an EV? Cost three times over. According to respondents to the CRs survey, 33% claimed it was less expensive to refuel an EV than a fossil burner, 31% mentioned a lower overall cost of ownership, and 28% mentioned fewer maintenance costs.
What discourages individuals from purchasing an EV? The top three obstacles mentioned were cost (52%), range (55%), and charging logistics (61%). Regular readers of this column will be aware that most of these objections, at least for most drivers, are unfounded and might be dispelled by giving potential customers more precise information.
In the US, there are already more than 48,000 public charging stations (although, low- and moderate-income communities need greater access). In addition, many motorists will never require public charging Modern EVs have ranges of 250 miles, according to CR, and a reliable home charger can be purchased for $500 to $700 (just make sure it is UL-listed). For most drivers, overnight charging at home is practical and economical. It’s interesting to note that according to CR’s survey, just 27% of current EV owners viewed range to be a problem at all.
Who is correct here when it comes to price? A third of CRs respondents believe that using an electric vehicle is less expensive than using gas, while half believe otherwise. Again, regular readers of EVannex are aware that while though EVs are typically more expensive than analogous legacy vehicles, the money saved on fuel and maintenance generally makes up for the higher purchase price in a matter of years.
Additionally, there are affordable EVs available despite expensive performance vehicles like the Tesla Model S Plaid garnering most of the attention. Compared to the industry average of $46,000, the average cost of a new EV in June was over $66,000, according to KBB. However, the abundance of expensive, low-volume EV products has misleadingly distorted these figures. The 2023 Bolt starts at $26,595 , the Tesla Model 3 starts at $46,990, the Chevy Blazer EV will reportedly cost roughly $45,000 when it is released in 2023, and the 2023 LEAF is now selling for $27,800.
Many buyers can decrease their expenses even further with the help of a patchwork of federal, state, and municipal incentives, but many consumers are unaware of them. According to CR’s survey, 46% of respondents were unaware of the incentives offered, yet 53% stated tax breaks or discounts would motivate them to make a purchase. Electric utilities frequently provide incentive schemes that not only provide savings but also make it easier to set up home charging.
Car buyers can discover incentives in their neighborhood with the help of CR’s free EV Savings Finder . a similar online tool is also provided by PlugStar.
Sales of EVs are increasing swiftly, according to the Kelley report and CR survey, but there is still plenty that manufacturers, governments, and advocacy groups can do to further educate the public as a whole.
Dr. Quinta Warren, Associate Director of Sustainability Policy at Consumer Reports, noted that more and more customers seek environmentally friendly vehicles that are less expensive to operate. Given that many of us are unfamiliar with electric vehicles, some of us have questions regarding the switch to them. Expanding the availability of charging stations and boosting incentives, along with awareness efforts and encouraging more people to test-drive EVs, can all promote adoption.
EVANNEX first released the information.
Authored by Consumer Reports 0
Featured photo provided by EVgo.
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