(GALLUP) More electric vehicles owners now, but fewer non-owners say they would buy one

The following is from Gallup News.

WASHINGTON, D.C. — Seven percent of Americans, up from 4% a year ago, report that they own an electric vehicle. That increase is matched by an equal decline in the percentage saying they are seriously considering buying one, from 12% to 9%.

Meanwhile, fewer Americans — 35%, down from 43% in 2023 — say they might consider buying an EV in the future.

Thus, even as some people have moved ahead with their intent to buy an EV in the past year, public demand for the cars has contracted.

Overall, less than half of adults, 44%, now say they are either seriously considering or might consider buying an EV in the future, down from 55% in 2023, while the proportion not intending to buy one has increased from 41% to 48%.

The results are based on a March 1-20 Gallup poll.

The findings conform with recent decisions by some auto companies to reduce their electric-vehicle investments after EV market growth has fallen short of expectations.

Weak consumer demand for the vehicles has also compelled the Biden administration to issue a less-aggressive schedule of emission-reduction targets for auto companies.

The federal government had hoped that by 2030, 60% of new vehicle production would consist of EVs. But that appears unlikely to occur unless consumer preferences change rapidly in the coming years.

A steady 16% of Americans over the past two years have indicated that they are EV consumers, either owning one or seriously considering buying one.

Read full article here.

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