EY Report: Decrease in Interest for EVs Due to Price and Driving Range Worries

November 27, 2024 TruthUSA

A recent survey indicates that fewer drivers are considering purchasing an electric vehicle for their next car.

According to an EY report, while overall intentions to buy a new vehicle have increased by six percent compared to 2023, there is a decrease in interest in EVs.

This year, only 15 percent of respondents plan to buy a fully electric vehicle in the next two years, down from 18 percent in 2023.

The main concerns cited by survey participants include limited driving range, high cost of EVs, expensive battery replacements, and inadequate charging infrastructure.

Jennifer Rogers, the automotive and transportation leader at EY Canada, emphasizes that addressing consumer concerns is crucial for Canada to achieve its goal of having all new light-duty vehicle sales be zero-emission by 2035.

For those interested in purchasing an EV, reasons such as high gasoline prices, environmental considerations, and government incentives were highlighted in the report.