agent Entrepreneur logo
MenuMENU
SearchSEARCH

More Shoppers Eyeing EVs

J.D. Power study found interest has surged due to more affordability and availability in the segment.

January 5, 2024
More Shoppers Eyeing EVs

J.D. Power said it believes the industry is now in a good spot to win over consumers who've clung to the gas-powered model.

IMAGE: Pixabay/distel APPArath

1 min to read


Consumer interest in electric vehicles, though slower to gain steam than manufacturers had anticipated, nevertheless is gaining.

A J.D. Power survey found 29% of consumers say they’re very likely to consider an EV as their next purchase or lease, the biggest percentage in nearly a year and a half.

Ad Loading...

The researcher credited increased production of lower priced Ford F-150 pickup trims and price cuts last year by U.S. EV market leader Tesla.

Large automakers started scaling back on EV production plans last year as consumer demand flattened, some switching focus to more hybrid production. Legacy brands have targeted all-electric lineups by next decade but haven't at least publicly backed away from those.

So far, the typical EV buyer has been in the early-adopter segment, and brands must now work on convincing the mass market to make the switch from gas-powered models. Surveys have consistently shown, though, that consumers resist it due to battery range and affordability concerns.

J.D. Power said it believes the industry is now in a good spot to win them over, indicating that "consumer interest, availability and affordability are all hitting the highest levels we’ve seen" in the past year. It said affordability has come in line with gas-powered vehicles due to tax breaks and Tesla's price cuts.

DIG DEEPER: EV Interest Flat

 

Originally posted on Auto Dealer Today

More Industry

Group photo of men outside storefront.
Industryby Hannah MitchellMay 28, 2026

Pennsylvania Dealership Under New Retailers

The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.

Read More →
Hallway with lockered wiring and computer
Industryby Lauren LawrenceMay 28, 2026

Battery Storage Takes Priority Over EVs

U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.

Read More →
Gray-scale photo of a line of Mini cars in a dealership parking lot
Industryby Hannah MitchellMay 27, 2026

Auto Dealers Feel Better But Not Great

A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.

Read More →
Ad Loading...
Closeup photo of the front of a white car
Industryby Hannah MitchellMay 21, 2026

New-Vehicle Sales Picture Relative

A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.

Read More →
Nissan logo on front of building
Industryby Lauren LawrenceMay 21, 2026

Auto Group Acquires Third Nissan Rooftop

Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.

Read More →
Couple talking with auto salesman next to new car inside dealership
Industryby Hannah MitchellMay 20, 2026

April Less Affordable

Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.

Read More →
Ad Loading...
Wooden people figures of different colors in a row, similar to board game pieces
IndustryMay 20, 2026

Building an Extraordinary F&I Agency

Work to determine your specialized talent, because that fact will determine everything about your agency’s future.

Read More →
Ingredient card, policies and procedures, fixed operations, variable operations, data security, audit
Industryby Jim GantherMay 19, 2026

Recipe for Compliance

The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.

Read More →
Photo of new Chevrolet Bolt parked on a beach
Industryby Hannah MitchellMay 14, 2026

EVs Getting More Attractive

A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.

Read More →
Ad Loading...
Benchmark bar graph showing April 2026 EV Sales
Industryby Lauren LawrenceMay 14, 2026

EV Sales Drop in April Following Surge

North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.

Read More →
Ad Loading...