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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. 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.

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    1. 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. 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

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