Gallup poll shows rise in electric vehicle ownership to 7% in the U.S. However, a decline in future purchase intentions by consumers illuminates the challenge of meeting government EV goals. (Shutterstock)
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Seven percent of Americans own an electric vehicle, marking a rise from 4% the previous year according to a Gallup poll conducted March 1-20.
However, this uptick is mirrored by a drop in individuals seriously contemplating purchasing one — 12% to 9%. And, those who are seriously considering or potentially considering buying an EV has declined to 44%, down from 55% in 2023. Meanwhile, the percentage of those not intending to purchase one has risen from 41% to 48%.
The poll aligns with recent decisions made by auto companies to scale back investments in EVs due to underwhelming market growth. The Biden administration also adjusted its emission-reduction targets for auto companies, reflecting weak consumer demand for EVs.
Trend Illuminates the Challenges of Meeting EV Goals
The government’s initial goal for 2030 was for 60% of new vehicles to be EVs, a target that appears challenging without a shift in consumer preferences. Approximately 16% of Americans have indicated consistent interest in EVs over the past two years, either through ownership or serious consideration of purchase.
Implications drawn from this poll indicate that the U.S. market for electric vehicles remains small, with only one in six Americans owning or seriously considering buying. Unless this market expands substantially soon, meeting emissions targets set by the Biden administration could prove difficult for auto companies operating in the U.S.
Read more at Gallup.
