- Consumers likely to purchase an EV surges 7% since
March
- Consumer education key to making transition to EV a
reality
SANTA
MONICA, Calif., Nov. 16,
2022 /PRNewswire/ -- In concert with the opening of
the 2022 Los Angeles Auto Show, TrueCar, Inc. (NASDAQ: TRUE), the
easiest, most efficient, and transparent online destination for
buying and selling new and used vehicles, compared its recent
national consumer sentiment survey on electric vehicles (EV) to a
focused look at real-time EV attitudes in the Los Angeles area.
"Consumers across the nation are continuing to grow in their
willingness to consider an EV as their next vehicle purchase," said
Mike Darrow, President and CEO of
TrueCar. "When we look specifically at the LA area the interest and
experience with EVs is much stronger, with 68% of people interested
in making the switch compared to 59% across the rest of the
nation."
High gas prices and the environmental benefits of EVs are the
top factors driving Los Angeles
residents' interest in EVs. LA mirrors the rest of the nation in
the top detractors to EV ownership with concerns about higher
initial purchase price and range/charging access as the most
commonly cited barriers.
National Consumer vs. Los Angeles
EV Consumer Survey Highlights:
- Consumers' likelihood to purchase an EV as their next vehicle
continues to grow nationally, increasing from 52% in March 2022 to 59% in August 2022.
-
- LA residents outpace the national average with 68% reporting
likely to consider an EV
- Nationwide, only 43% of those surveyed report ever having
driven or owned an EV.
-
- LA residents have more experience with EVs with 50% reporting
prior ownership and driving experience.
- Nationally, 31% of consumers reported being "much more likely"
to consider EVs due to gas prices.
-
- In LA, 38% of consumers were "much more likely" to consider EVs
due to gas prices.
One interesting finding is that LA residents are more likely to
rent their homes (45%) than the national average (38%) which
increases the number of people who do not have access to charging
at home - or the ability to install it - making public
infrastructure critical to enabling those with EV interest to
purchase one.
"The interest in EVs is definitely growing across the nation,
but there are a lot of unknowns for consumers in the EV ownership
space," said Darrow. "TrueCar feels that consumer education is the
critical link that needs to occur for the transition to EVs to
really take hold. We are working with OEMs and dealers to help
narrow this education gap and assist with consumers becoming
informed and comfortable with the EV choice."
To help with the need for consumer education, TrueCar now
provides informational guides for consumers that are searching and
buying EVs through its online site www.truecar.com.
About TrueCar
TrueCar is a leading automotive digital marketplace that lets
auto buyers and sellers connect to our nationwide network of
Certified Dealers. With access to an expansive inventory provided
by our Certified Dealers, we are building the industry's most
personalized and efficient auto shopping experience as we seek
to bring more of the process online. Consumers who visit our
marketplace will find a suite of vehicle discovery tools, price
ratings and market context on new, used and Certified Pre-Owned
vehicles. When they are ready, shoppers in TrueCar's marketplace
can connect with a Certified Dealer in our network, who shares our
belief that truth, transparency and fairness are the foundation of
a great auto shopping experience. As part of our marketplace,
TrueCar powers auto-buying programs for over 250 leading brands,
including AARP, Sam's Club, Navy Federal Credit Union and American
Express.
For more information, please visit www.truecar.com, and follow
us on LinkedIn, Facebook or Twitter. TrueCar media email:
pr@truecar.com
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SOURCE TrueCar.com