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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Varezhka Renault Twizy, or I guess it's Mobilize Duo now. Neat looking, and these microcars and mopeds are one of the few place where BEVs actually makes sense environmentally.
Probert Most KIA/Hyundais are based on the e-gmp modular platform, but not all, and that's where I see Lucid's drivetrain coming in. It is arguably the most efficient, powerful and importantly, compact drivetrain in the business. A car like the Genesis G80 or GV70, which are derived from ICE cars, could benefit from these characteristics as batteries and motors are shoehorned into the chassis.
NJRide They need a hybrid.
Jonathan This plan for a mass conversion to EVs is simply lunacy. Leave them as niche products for those who want them, no problem. But to push them across the board for everyone in the near future is unnecessary. It's beyond sad that there are people who actually believe these things will "save the planet".
The Comedian My owned-for-just-13-months 2022 GTI had the same problem (similar UX OS).It was still broken after it was repaired under a recall. One of the several reasons I sold it back to the dealer. Not officially lemon-lawed, but I didn’t lose much on that one - Other than a headache.