Why More Americans Are Considering Electric Cars Now Than Ever Before

by TTAC Staff

Published: April 24th, 2024

Photo credit: husjur02 / Shutterstock.com

Recent data collected over a three-year period ending in February 2024 shows a significant increase in consumer searches for electric vehicles (EVs). Analysis indicates that interest in EVs has more than doubled, with a 177 percent rise in searches, underscoring a shift in consumer behavior and a greater inclination towards purchasing electric vehicles.

Influence of Fuel Prices on EV Demand

A distinct spike in searches for electric vehicles was noted between February and March 2022. This period coincides with increases in gasoline prices, suggesting a possible link between rising fuel costs and heightened interest in electric vehicles. Such trends highlight how external economic factors can drive consumer interest towards more sustainable vehicle options.

Popular Electric Vehicle Models and Pricing Trends

CarMax's sales data from September 2023 through February 2024 identifies the electric vehicles that are currently leading in popularity, along with their average sales prices:

Tesla Model 3: $34,045
Tesla Model Y: $43,896
Nissan LEAF: $18,465
Volkswagen ID.4: $31,576
Ford Mustang Mach-E: $38,713
Audi e-tron: $41,205
Chevrolet Bolt EUV: $26,776
Chevrolet Bolt EV: $22,564
Tesla Model S: $45,574
Hyundai Ioniq 5: $37,036

The pricing data reveals a range from approximately $22,000 to $45,000, which is significantly lower than the previous high of $72,000, suggesting that electric vehicles are becoming more financially accessible to a broader range of consumers.

Regional Sales Insights

While California remains a stronghold for electric vehicle sales, there is notable growth in the East Coast markets, particularly in Massachusetts, New York, and Maryland. This geographical expansion of EV sales indicates a nationwide shift towards electric mobility.

Public Sentiment and Market Response

Aligning with CarMax's findings, a 2023 Pew Research study revealed that a substantial portion of Americans are considering electric vehicles for their next purchase. This is reflective of a broader change in consumer preferences and a growing acceptance of electric vehicles across the country.

The collected data from CarMax not only emphasizes the diversity in popular electric vehicle models but also illustrates a trend towards more advantageous pricing. As the electric vehicle market continues to evolve, regional and national sales are expected to expand, supported by a favorable shift in public attitudes.

This article was co-written using AI and was then heavily edited and optimized by our editorial team.

TTAC Staff

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1995 SC The sad thing is GM tends to kill cars when they get them right, so this was probably a pretty good car
Mason Had this identical car as a 17 year old in the late 90's. What a ball of fun, one of many I wish I still had.
FinnEss At my age, sedans are difficult to get into without much neck and hip adjustment.I apologize sincerely but that is just the way it is. A truck is my ride of choice.Pronto
Ajla The market for sedans is weaker than it once was but I think some of you are way overstating the situation and I disagree that the sales numbers show sedans are some niche thing that full line manufacturers should ignore. There are still a sizeable amount of sales. This isn't sports car volume. So far this year the Camry and Civic are selling in the top 10, with the Corolla in 11 and the Accord, Sentra, and Model 3 in the top 20. And sedan volume is off it's nadir from a few years ago with many showing decent growth over the last two years, growth that is outpacing utilities. Cancelling all sedans now seems more of an error than back when Ford did it.
Duties The U.S . would have enough energy to satisfy our needs and export energy if JoeBama hadn’t singlehandedly shut down U.S. energy exploration and production. Furthermore, at current rates of consumption, the U.S. has over two centuries of crude oil, https://justthenews.com/politics-policy/energy/exclusive-current-rates-consumption-us-has-more-two-centuries-oil-report.Imagine we lived in a world where all cars were EV's. And then along comes a new invention: the Internal Combustion Engine.Think how well they would sell. A vehicle HALF the weight, HALF the price that would cause only a quarter of the damage to the road. A vehicle that could be refueled in 1/10th the time, with a range of 4 times the distance in all weather conditions. One that does not rely on the environmentally damaging use of non-renewable rare earth elements to power it, and uses far less steel and other materials. A vehicle that could carry and tow far heavier loads. And is less likely to explode in your garage in the middle of the night and burn down your house with you in it. And ran on an energy source that is readily extracted with hundreds of years known supply.Just think how excited people would be for such technology. It would sell like hot cakes, with no tax credits! Whaddaya think? I'd buy one.