More Americans eye Electric Vehicles

A quarter of Americans surveyed in a national survey by the American Automobile Association(AAA) say they will buy an electric vehicle as their next automobile as gasoline prices soar to record levels. 

According to AAA, gasoline prices in the U.S. reached a record $5.02 a gallon last month and have since settled to an average of $4.66, which is $1.51 more per gallon than a year ago. Amid these high gas prices, Millennials are the most eager to electrify their ride, with 30% saying they plan to buy an EV next, according to the survey. 

Of those looking to buy a plug-in vehicle, 77% said the interest was driven by a desire to save on fuel costs. The last time the organization gauged Americans’ interest in EVs was in 2019 when 16% said they were likely to buy one. 

In 2019, the number of available plug-in models was minimal. But the level of interest reported in the survey suggests that plug-in vehicles are gaining momentum. 

Sales may also be bolstered by the fact that there are now many more EV choices available as automakers invest more than $500 billion to bring new models to the market. 

Consumers haven’t been won over yet, however, a majority in the survey voiced concerns about the cost of EVs and the availability of charging stations. 

Nevertheless, Americans are buying electric vehicles at a record pace, undeterred by rising prices and long waits for delivery, a further indication that the twilight of the internal combustion engine is on the horizon.