EVs stacking up: Inventories increased by 506% in the past year.Longer market presence: EVs stay on lots for an average of 82 days, compared to 64 days for gas-powered vehicles.
Despite price cuts, EVs are still too expensive for many consumers. Julia Martinez highlights price as a top concern for EV buyers
Average EV price in September dropped to $50,683. New average EV list price still 28% higher than gas vehicles
Total cost of ownership for EVs higher in the first five years. Factors include upfront charger installation, insurance, and maintenance costs
Starting Jan. 1, eligible buyers can take up to $7,500 in EV credits upfront. Edmunds analysts doubt a significant immediate boost in sales.
State and local tax credits available but often confusing and time-consuming. Only 30% of surveyed adults are familiar with government programs.
Charging station and battery life concerns: 77% and 73%, respectively, according to Ipsos. 57% of respondents not likely to buy an EV due to various concerns
Mike Hanley notes EV choice must align with consumers' lifestyles.Short driving trips, proximity to chargers, and city living impact EV acceptance.
J.D. Power survey: Nearly 21% experience broken charging stations.Overall satisfaction with Level 2 public charging declined by 11 points.