agent Entrepreneur logo
MenuMENU
SearchSEARCH

Consumers Will Switch Brands for EVs

Lack of choice among reasons buyers try out makers they haven’t before, Edmunds survey finds.

June 22, 2023
Consumers Will Switch Brands for EVs

Just two of the five brands consumers trust the most to make quality EVs are also among the top EV sellers: Tesla and Chevrolet.

IMAGE: Pexels/Pixabay

2 min to read


In order to get an electric vehicle that they want, buyers are switching brands, an Edmunds study found.

The online car-shopping resource surveyed shoppers, 85% of whom said they’re willing to buy an EV from a maker whose models they don’t or haven’t owned before.

Ad Loading...

The sentiment seemed to be reflected in Edmunds' first-quarter sales data, which show 63% of EV purchases that involved trade-ins were of different brands than the trade-ins’ brands.

Edmunds said that percentage is falling as legacy automakers scale EV production but that a significantly higher percentage of EV shoppers are willing to switch brands than across the industry as a whole. In the first quarter, 51% of all vehicle transactions with trade-ins involved those of the same brand as the new purchase.

"Traditionally, automakers count on consumer loyalty to carry their sales rates, but consumer interest in EVs combined with the limited number of options in the market is spurring shoppers to consider taking the wheel of brands they've never driven,” said Edmunds Executive Director of Insights Jessica Caldwell.

"EVs are throwing a monkey wrench into the loyalty patterns that automakers have grown accustomed to, and it will be fascinating to watch if the growing number of EV models from mainstream brands will shift consumers back fully toward their loyalty tendencies or if brand allegiances are a thing of the past.”

Edmunds’ survey also found that EV sales keep increasing despite their higher prices. Their May market share was about 7%, up from 5% a year earlier, despite their average transaction price of $65,381, well above the overall new-vehicle ATP of $47,892.

Ad Loading...

It pointed out that some brands aren’t capitalizing on consumers’ trust in them when it comes to EVs, just two of the five brands consumers trust the most to make quality EVs also among the top EV sellers: Tesla and Chevrolet—the rest of the trusted brands are BMW, Toyota and Audi.

LEARN MORE: JD Power Survey Finds Modest Growth in EV Interest

Originally posted on Auto Dealer Today

More Industry

The outside of a blue Gregg Young Chevrolet dealership.
Industry•by Lauren Lawrence•October 22, 2026

Nebraska Rooftop Changes Hands

The Gregg Young Automotive Group has sold its second dealership to Janssen Auto Group, both in Plattsmouth, Neb.

Read More →
Two white men's shaking hands
Industry•October 15, 2026

Penske Auto Group Deal a Record

The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.

Read More →
Rows of cars parked in exterior lot
Industry•by Hannah Mitchell•October 8, 2026

War Toll a Damper on Used Auto Prices

Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.

Read More →
Ad Loading...
Mechanic cleaning interior of engine
Industry•by Lauren Lawrence•October 8, 2026

Bridge the Maintenance Gap

With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.

Read More →
Ford F-150 truck rounding a curve
Industry•by Hannah Mitchell•October 1, 2026

California Store Has New Owner

The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.

Read More →
crane lowering a pipeline into the ground
Industry•by Lauren Lawrence•October 1, 2026

BMW Plant Pursues Cleaner Energy

BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.

Read More →
Ad Loading...
Two dodge cars outside of dealership.
Industry•by Lauren Lawrence•September 17, 2026

Auto Affordability Inches Up

The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.

Read More →
Five men smiling for photo in front of Honda car dealership.
Industry•by Lauren Lawrence•September 10, 2026

Ohio Auto Group Under New Ownership

After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.

Read More →
Blue and white RV parked on beach facing the ocean.
Industry•by Lauren Lawrence•September 3, 2026

RV Group Expands Carolina Footprint

Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.

Read More →
Ad Loading...
Photo of two men and one woman on a discussion panel
Industry•by Hannah Mitchell•September 1, 2026

Agent Acumen

An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.

Read More →
Ad Loading...