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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SCE to AUX Red flags everywhere on this one. The mods are a negative, and what good is upgraded suspension that hasn't moved in 15 years?This car needs a total overhaul, and $18k for a basketcase is a bad starting point.
Theflyersfan Yet another seller grossly overvaluing what could/will likely become a project car because with those aftermarket mods, it's anyone's guess how it's holding up now. Even the two comments in the listing are letting the seller know that he's asking too much. And that's a shame because this is one desirable Japan bubble-era car to snag. But if it can't pass California smog, it likely won't pass emissions in states that are close or meets their inspection limits so that knocks out a big chunk of the west and east coasts. So, bring a truck and a trailer and be prepared to haul it a distance. These sellers need to be real. Aftermarket turbos aren't going to help reliability in the long run. Expect a total engine inspection/rebuild as part of this project. New body work and paint. Replace everything that is rubber from tires to belts to hoses. Professional cleaning of interior and possibly new upholstery depending on the damage done by 15 years of sitting and rotting. Given the work and transportation/towing involved, even $10,000 might be too high. Someone will want this, that's for sure, but the seller needs to adjust expectations a bit.
Bd2 These vehicles, especially when compared to Hyundai models of the same time were total junk even when new.
Theflyersfan I'll leave a note under this guy's windshield letting them know that they need to park their car until it can get fixed. I'm sure he'll understand.
SCE to AUX [list=1][*]CfC: The fuel economy of a Sentra is so high that the required gain (25%, I think) to make the vehicle qualify meant that there were few cars that could beat it. Besides, a Sentra owner is unlikely to be in a position to take on a new car payment. Despite the cash, you still had to buy the new car.[/*][*]Takata recall: So 11% of these vehicles remain untouched. Some people think recalls are for chumps, because they know their car better than anybody, and because the dealer is going to try to rip them off somehow.[/*][/list=1]Honda had the same problem trying to contact owners. I think we've reached the point where due diligence has been exercised.