Study Suggests 25 Percent Of U.S. Car Shoppers Would Buy An EV

Alexandra Purcell Jul 23 2022

 

The American populace seems to become more accepting to the idea of the electric vehicle as gas prices soar, as a recent study suggests that 25 percent of U.S. car buyers are serious about purchasing an EV.

The study was conducted by AAA, and found that of those 25 percent of U.S. car buyers, 30 percent were Millennials, accounting for the highest percentage of any demographic. AAA stated that it believes rising fuel prices will continue to encourage customers to consider buying an EV, as 77 percent of buyers indicated gas prices were a key reason for interest.

 

 

There are still major concerns regarding the widespread adoption of electric vehicles, however. Sixty percent of buyers hesitant to purchase an EV stated they were put off by the higher purchase price and concerns that there weren’t enough places to charge. Additionally, 58 percent cited concerns about running out of charge while driving an EV, and that these vehicles are not suited to long-distance travel.

AAA predicts that interest and acceptance of electric vehicles will continue to rise as many automakers abandon the internal combustion engine for battery electric propulsion systems. GM in particular will launch 30 EVs worldwide by 2025, dedicating more than half of its capital spending and product development team to electric and electric-autonomous vehicle programs. Notably, the automaker will transition Buick and Cadillac into EV-only brands by 2030. The Cadillac Lyriq, Caddy’s first EV, has already dropped and is on its way to dealers nationwide, while the first electric Buick is expected to launch in 2024. The GMC Hummer EV is already making waves, laying the framework for an electric Humvee successor for the U.S. Army.

 

 

More recently, the 2024 Chevy Blazer EV debuted in both the U.S. and Canada, representing Chevrolet’s first foray into the realm of electric vehicles. The Blazer EV will be offered in four trim levels, including the range-topping SS trim that “has the soul of a sports car.” And speaking of sports cars, GM Authority recently caught a Chevy Corvette E-Ray turning laps at Nurburgring, a testament to what the upcoming hybrid Vette will be capable of.

 

SOURCE: GM AUTHORITY

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