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New Car Buyer Interest In EVs Grows Amid Record High Gas Prices

Ford’s electrified vehicle lineup has been on fire over the last few months, attracting a large number of customers from other brands to The Blue Oval. In fact, Ford recently took over Toyota’s spot as the top car brand for non-luxury shoppers on Kelley Blue Book’s Brand Watch survey as a number of its electrified models – including the 2022 Ford Maverick Hybrid, Mach-E, and Ford F-150 Lightning have all recently landed on KBB’s most considered electrified vehicles list. Now, as gas prices continue to soar to record highs, new car buyer interest in EVs is growing even more, according to new data from Edmunds.

New car buyer interest in electrified vehicles – which includes hybrid, plug-in hybrid, and all-electric models – grew by 39 percent over the past month and 18 percent in the last week at the online car shopping resource, which generates around 20 million visits per month. Among the shoppers that visited Edmunds during the first week of March, 17.9 percent were researching some sort of electrified vehicle.

In 2020, Edmunds estimates that around 4.2 percent of all new vehicle purchases consisted of an electrified vehicle, as well as 1.9 percent earmarked solely for EVs. Those numbers grew to 6.2 percent and 2.6 percent, respectively in 2021, in spite of their greater costs. The average transaction price for EVs in February was $60,054 compared to $45,596 for all new vehicles, including EVs.

“Green vehicles – notably EVs – have grown increasingly top of mind for American consumers over the last year as more automakers have generated buzz around new products and made strong commitments to an electrified future,” said Jessica Caldwell, Edmunds’ executive director of insights. “But the major surge in interest of late is certainly more of a reaction to record gas prices sparked by the war in Ukraine. Unfortunately, making an EV purchase is not particularly easy to do right now amid inventory shortages, and price-sensitive consumers most affected by gas price hikes will likely find that making the switch is also a bit out of financial reach due to the premiums that these vehicles command.”

We’ll have more insights like this to share soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. Joe

    Our family ordered a pair of 2022 ICE powered vehicles, 1 one in July, which we have now and and waiting on one to be built in April. I want a vehicle that I don’t change my lifestyle around because it is limited in range. I want a vehicle I don’t have to plan a route by where chargers are, freeze in the cold weather as the heat is slow to warm up the vehicle and cost 65K. If you want save on your fuel you can buy hybrids for about half the average EV price. That 30K savings can buy you a lot of fuel or food for the table. Ford only sold under 30K Mach E here in the US and less in Europe. They are novelity cars for now. Gas prices will come back down as production ramps up.

    Reply
    1. Everyday Patriot

      Okay, I promise you no one is going to come take away your non-renewable resource-powered vehicles, and no one will force you to buy something you don’t want.
      That’s not how this works.
      That’s not how any of this works, buddy-bro-dude.

      Reply
      1. Joe

        You are not my Buddy-Bro-Dude, I don’t know anyone with a least a high school education using those terms. No one is going to take away my ICE cars and I never said they are going to. No one will force me to buy something I don’t want and I didn’t say they were. When they stop selling ICE cars in the US, there will still be plenty of used ones on the market. I bought 2 new ones now while there are still some deals when you factory order and used X-Plan so I wouldn’t pay ADM.

        Reply
      2. David Dickinson

        A former President told me I could keep my doctors, but he lied. I lost them all. Politicians lie. That’s what they do.

        Reply
      3. David

        Actually, I believe if you have been reading this source Ford is planning on taking away our choices. They are committed to being electric except for big trucks. This action is not demand generated.

        Also, the title of this article suggests people are thinking electric because of the rising cost of gas and the government is also trying to take away our choices by driving up the price of gasoline. A little over a year ago we were oil independent and gas here was $2.10 a gallon, it is now $4.39. Government actions to shutdown production, increasing cost to drill on government land, closing government land to drilling, and closing pipelines is responsible for a lot of this increase in price. It cost a lot more to move oil by train than pipeline. Also their excessive spending is driving up inflation which also makes gas more expensive. These actions are part of their plan to push us to electric vehicles. They are very open about it.

        We just bought a gas 2022 Ford Explorer XLT but think this will be our last new Ford given their stated goals to rid themselves of gas vehicles. Agree with the man that said when they stop selling gas cars he’ll go used. I’m thinking a red 1957 T-Bird with a big V8.

        Reply
        1. David

          Good news! This article claims that the average transactional cost of a Ford EV in Feb was $60,054. I just found a sweet 1957 red T-Bird conv with 68,339 miles on it for sale in Tampa, Fl on Carsforsale for $45,995. I can use the money saved for gas.

          Reply
    2. Brad Barefoot

      100% in agreement. Something “ly’inbinden” does not talk about … the cost of charging a EV … when you can. Overnight charging for light days $8 to $20 dollars … a heavy use day which most will fall into, $17 to $25 … an remember that’s EVERY NIGHT. Where’s the money savings going to come from when it cost you maybe $85 to $110 a week to charge. Then there’s the fact the power grid can only take so much, in CA it causes brown outs when to many plug in a the same time. As an owner of a Ford C-Max I bought new in 2013, my little guy “Herbe” daily returns in winter 45 to 48 mpg around town, 41 on the interstate, in warm weather 52 to 55 around town and 44 to 47 on the interstate. I want a Maverick, to park beside my C-Max … an by the way Ford, bring back the C-Max Hybrid, forget about the plug in nonsense, the standard model in SE an SEL Trims … THEY WILL SELL. For anyone who hasn’t driven one, you got 98% of the room of a Edge, traded my edge in on the C-Max, told a lady from Ford … The C-Max is the vehicle I would have bought years ago. Bring back the C-Max Ford ! And while you’re at it … the GALAXY Mini Van sold in Europe. And production … do what you did in the mid ’60’s for the Mustang, build Mavericks in US plants … not just Mexico !

      Reply
  2. Marlin Ronnebaum

    I ordered a 2022 Edge ST first part of Sept was emailed by ford we would be at the dealer between march 2-9 but we still don’t have it dealer told us it was setting on dock. Also a 2022 f150 Dec 14 and have not heard nothing from ford about it. Wander if other brands are like this. I believe elector must be ahead of gas

    Reply
  3. Ford Owner

    The used car market has a new star: the Fusion Hybrid sedan. Many are searching for them as their prices were rising since the Fusion stopped production in 2020. So if you want to save money but don’t want a full electric, get a Ford hybrid.

    Reply
    1. Brad Barefoot

      Agreed, I get e-mails from my dealer, and others wanting to buy my ’13 C-Max I bought new, forget it … Herbie’s just getting broken in good. Besides when the current politicians are gone … the economy is going to grow in the right direction … not the direction where “ly]inbiden” wants it to go. I believe the public has figured out that gasoline prices were going up quickly months before “Putin” waged war on the Ukraine. Had the Keystone Pipeline been allowed to proceed, the northeast, an mideast states might have seen oil coming down to that point in our geography helping out … but no, biden had to follow the whims of the wind an solar crowd that’s stupid enough to believe that’s the salvation … it won’t. One decent NC Hurricane would wipe out every single windmill and solar farm in short notice. As for used cars, thankfully they are out there. If you can afford to buy a “Warranty Package” for one less that 3 to 5 years old … do it.

      Reply

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