Economic chaos brought on by tariffs and a flattening of the market do not appear to have dulled the appetite for more EVs according to a US report.
The J.D. Power 2025 US Electric Vehicle Consideration (EVC) Study found 24 per cent of vehicle shoppers say they are “very likely” to consider purchasing an EV and 35 per cent say they are “somewhat likely,” both of which remain unchanged from a year ago.
The stable interest in future purchasing EVs comes despite the prospect of imported vehicles being hit by the tariffs and costing more or for US built vehicles like Tesla, their parts and materials being hit by other tariffs.
J.D. Power EV practice, executive director Brent Gruber says despite the market volatility the interest has stayed alive.
“To further capitalise on that interest and spur adoption moving forward, the industry needs to have products that meet consumer needs and wants at prices that are affordable,” Gruber says.
Charging barrier
The survey found charging concerns persist with charging station availability the top concern. More than half (52 per cent) cite it as a reason for rejecting EVs.
Gruber says the continuing concern with charging, coupled with flattening overall EV interest, points to a lack of progress in consumer education on these issues.
“Additionally, the industry should better educate consumers about EV ownership to ease concerns—many of which, such as those related to public charging, are less problematic than they might seem when it comes to actually owning an EV.”
Purchase price and cost of ownership concerns have declined dropping 4 per cent since 2024 over year to 43 per cent, concern with cost of ownership has dropped 2 percentage points to 33 per cent.
Looking further
The study found prospective EV customers were also more active in cross-shopping, looking at an average of 2.9 brands, compared to 2.5 for ICE powered vehicle shoppers.
“As more EV options come to market, this should serve as an encouraging sign for automakers because it’s an opportunity for them to gain a foothold and pull shoppers from outside their brands ,” Gruber said.
One of the other findings is while younger people have the most interest in EVs they most rarely can afford them.
“It’s an interesting dichotomy because younger consumers are the most receptive to EVs, but also the least likely to be able to afford them, while older consumers have the financial means but show less interest,” Gruber says. “Much of the recent growth in the EV space has been fuelled by products from mass market brands, which demonstrates the pent-up demand for more affordable products.”
The U.S. Electric Vehicle Consideration (EVC) Study is in its fifth year and focusing on gauging fully electric or battery electric vehicle shopper consideration. This year’s study measures responses from 8,164 consumers who intend to buy or lease a new vehicle in the next 12 months and was fielded from January through April 2025.
For more information see the U.S. Electric Vehicle Consideration (EVC) Study