Consumer Reports Sees Growing Interest in EVs Amid High Fuel Prices

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Fuel prices hit record highs – not only in the US but in other parts of the world. This is a tough time for car owners who regularly use their cars, even more so if your vehicle is not electrified.

Consumer Reports (CR) recently published a study showing that there is increasing interest in electric vehicles amid high fuel prices. The survey, made up of 8,027 American respondents, is said to be the largest national survey sample in the organization’s history.

In its release, CR found that 71 percent of Americans have expressed a certain interest in buying or renting an electric vehicle. 14 percent of those would “definitely” buy or lease if they were to get a vehicle today, while 22 percent would “seriously consider” one. The remaining 35 percent is within the limits and only “probably” considered one at the time of the survey.

By comparison, the 14 percent of Americans who believe they would buy an EV if given the opportunity are up significantly from the 4 percent who said the same in 2020.

A recent CR survey also found that 46 percent or almost of Americans are unaware of the fact that incentives are available to those who will buy an electric vehicle. More than half of them said that this incentive, such as a tax rebate or discount on purchase, would encourage them to buy an EV.

The CR survey was conducted from January 27 to February 18, 2022. The national average for gasoline prices rose from $3.34 to $3.52 per gallon at that time. In May, national gas prices averaged $4.43 per gallon, a record high at that time, but prices have risen to $4.87 today, according to the Automobile Association of America (AAA).

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