More Americans Want EVs, Despite The End Of The Tax Credit

"EVs are far from done, despite the dramatic decrease in sales last month, the first full month after the $7,500 federal tax credit was repealed. Compared to September, EV sales plummeted by 53%, slashing the market share in half. But that's just part of the story, as data analytics, software, and consumer intelligence company J.D. Power recently discovered. For starters, last month's steep sales dip can be partly attributed to consumers rushing to get the tax credit in September, which ballooned the numbers."

"Per J.D. Power, more than half of new vehicle shoppers (59.7%) say they are very likely (24.2%) or somewhat likely (35.5%) to consider buying or leasing an EV in the next 12 months. The number of people who are actively looking for a new car and are very likely to consider an EV is up 2.6 percentage points from September and is now at its highest level since January."

EV sales dropped sharply in the first full month after the $7,500 federal tax credit was repealed, with a 53% month-over-month decline and a halved market share. The September figures were inflated by consumers rushing to claim the tax credit, contributing to the subsequent pullback. Consumer interest in EVs remains strong: 59.7% of new vehicle shoppers say they are very or somewhat likely to consider an EV in the next 12 months, and active shoppers very likely to consider an EV rose to its highest level since January. Current EV owners show 94% intent to buy another EV, driven primarily by lower running costs and satisfaction.

Read at insideevs.com