AAA Survey: 1-in-4 Want to Go Electric for Next Vehicle Purchase

Source: AAA press release

A new national survey by AAA shows that a quarter of consumers plan to go electric for their next vehicle purchase (fully electric, not a hybrid vehicle). The most common factor for those interested in buying an electric vehicle (77%) is a strong desire to save on fuel costs. However, AAA notes that there are still those who are hesitant to make the switch due to lingering concerns relating to range, purchase price and availability of public charging options.

“Consumers who are fed up with the wild price swings at the pump may be more willing than ever to make the switch to an electric vehicle,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Record-high gas prices have brought the cost of owning an EV more in line with a standard gasoline-powered vehicle. Although it may cost more money up front, EVs cost less to charge, maintain, and are more efficient.”

EV sales continue to steadily rise within the United States. In 2021 alone (through October), almost 450,000 EVs were sold – an 88% increase year over year. Despite rapid growth, EVs account for less than 1% of light vehicles (cars and trucks) in operation today. However, industry analysts forecast the share of EVs on the road will reach 15% by 2030, and 50% by 2050.