A recent survey has found that Americans planning to buy a new car are less likely to purchase an electric vehicle (EV) compared to last year. The survey, conducted by Ernst & Young (EY), indicates a significant drop in interest despite the ongoing push from the federal and state governments to promote EVs.
The survey, which polled nearly 1,500 people planning to buy a car in the next two years, found that only 34 percent expressed a desire to purchase an EV. This represents a sharp 14 percent decline from the 48 percent who expressed interest in buying an electric vehicle just one year earlier.
This decrease in enthusiasm for electric vehicles comes at a time when the current administration is ramping up regulations and spending to increase the number of EVs on American roads. The Biden administration has set a goal for electric vehicles to comprise 50 percent of all new car sales by 2030.
“We keep hearing about this stalled demand for EVs,” said Steve Paton, Automotive Leader at EY Americas, in response to the survey results. Paton noted that the decline in demand “was reflected in a much bigger way” than he had previously expected, according to Automotive News.
Adding to concerns, a report last summer from consulting firm McKinsey & Co. revealed that nearly half of the Americans who bought an EV regretted their decision. The report found that 46 percent of EV owners said they would likely return to gas-powered vehicles for their next purchase. Despite the administration’s ambitious goals, several major automakers have delayed their plans for new electric vehicle models. For instance, Ford Motor Company recently announced it would postpone the release of its anticipated new EV models from 2025 to 2027, reflecting a cautious approach as consumer sentiment has shifted. Earlier this year, Mercedes-Benz announced it would backtrack on its plan to go all-electric by 2030 as consumer sales were lower than expected.
