Percentage of U.S. consumers looking to make an EV purchase in the next two years falling: survey

While the Biden administration was hoping to get more than half of all vehicles to be electric by 2030, consumers appear to continue to resist the plan.

A new survey by professional services firm EY found that only 34% of U.S. consumers plan to purchase a new EV in the next 24 months. That’s down from 48% last year.

One-fourth of consumers cited the expense of replacing the vehicle’s battery and concerns about charging options as the main reason not to buy an EV. In 2022, the survey found that 34% of U.S. buyers were concerned about finding charging stations. About one-fourth said limited battery range was a problem, which was down from 30% last year.

The EY Mobility Consumer Index served 20,000 consumers from 28 countries. Marc Coltelli, EY Americas Power & Utilities eMobility Leader said consumer reluctance is only an education problem.

“To keep momentum and make EV ownership appealing, it’s imperative to educate and create a seamless customer experience from the dealership to the charge point, throughout the ecosystem and lifecycle of an EV. Now, US consumers are expressing heightened concerns over maintenance and battery replacement costs, when really it costs less to maintain an EV compared to ICE vehicles,” Cotelli said in a statement.