The wide variety of electric vehicle models now available — over 75 options introduced in the past four years — isn’t moving the needle for buyers. That’s according to AAA’s latest survey, which found only 16% of U.S. adults report being “very likely” or “likely” to purchase a fully electric vehicle as their next car, the lowest percentage of EV interest recorded since 2019. The percentage of consumers indicating they would be “unlikely” or “very unlikely” to purchase an EV rose from 51% to 63%, the highest since 2022.
Key Barriers to Going Fully Electric
High battery repair costs (62%) and purchase price (59%) are cited as key barriers to going fully electric. Other top concerns identified in this year’s survey were the perceived unsuitability of EVs for long-distance travel (57%), a lack of convenient public charging stations (56%) and fear of running out of charge while driving (55%). Just over 30% of those undecided or unlikely to buy an EV have safety concerns, 27% reported challenges installing charging stations at their residences, and 12% cited the potential reduction or elimination of tax credits and rebates. According to AAA’s 2024 Your Driving Cost analysis, EVs had the second highest total ownership costs due to depreciation, purchase prices and finance charges.
Motivating Factors
Respondents cited gas savings, environmental concerns and lower EV maintenance costs as their top motivations to purchase. Last year’s Your Driving Cost analysis found that EVs had the lowest fuel cost and lowest maintenance cost of any vehicle type.
Future of EVs
Despite advancements in the EV industry and the growing number of models, the percentage of U.S. drivers who believe that most cars will be electric within the next 10 years has significantly declined from 40% in 2022 to 23% this year.
AAA EV Resources
- AAA Car Guide: For those in the market for newer EVs, the online resources also contain links to the two prior editions in 2022 and 2023.
- AAA’s EV Website: For anyone looking to learn more about EVs, the website features a guide to getting started, cost calculators, news and insights.
- Your Driving Cost Calculator: An online resource that gives a yearly breakdown of EV ownership costs.
- EV Research: AAA in-house experts research consumer sentiment around EVs and their functionality.
