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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Brendan Duddy soon we'll see lawyers advertising big payout$ after getting injured by a 'rogue' vehicle
Zerofoo @VoGhost - The earth is in a 12,000 year long warming cycle. Before that most of North America was covered by a glacier 2 miles thick in some places. Where did that glacier go? Industrial CO2 emissions didn't cause the melt. Climate change frauds have done a masterful job correlating .04% of our atmosphere with a 12,000 year warming trend and then blaming human industrial activity for something that long predates those human activities. Human caused climate change is a lie.
Probert They already have hybrids, but these won't ever be them as they are built on the modular E-GMP skateboard.
Justin You guys still looking for that sportbak? I just saw one on the Facebook marketplace in Arizona
28-Cars-Later I cannot remember what happens now, but there are whiteblocks in this period which develop a "tick" like sound which indicates they are toast (maybe head gasket?). Ten or so years ago I looked at an '03 or '04 S60 (I forget why) and I brought my Volvo indy along to tell me if it was worth my time - it ticked and that's when I learned this. This XC90 is probably worth about $300 as it sits, not kidding, and it will cost you conservatively $2500 for an engine swap (all the ones I see on car-part.com have north of 130K miles starting at $1,100 and that's not including freight to a shop, shop labor, other internals to do such as timing belt while engine out etc).