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Shoppers Don’t Mind Spending More for an EV, According to a New Survey

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Though some people still perceive electric vehicles as too expensive, many don’t mind their higher price tag. A recent survey from InnovateMR confirms this new consumer trend.

The stats

Two-thirds of those surveyed claimed that they would be willing to purchase an eco-friendly vehicle even if it had a higher price tag. In general, the survey found that college grads and younger consumers tended to favor buying an EV.

Forty-nine percent of those with a high-school education were open to buying a pricey EV. By contrast, 85 percent of graduate degree participants and 71 percent of bachelor or associate’s degree participants fell into this category.

Eighty percent of 18- to 34-year-olds said they’d pay more for an eco-friendly car, while only 70 percent of consumers in the 35- to 54-year-old range said the same. Additionally, 48 percent of those older than 54 years favored EVs despite the greater expense.

It also turns out that more men than women say they would consider buying an EV despite the higher cost. 73 percent of men vs. 60 percent of women, to be exact.

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A more economical future

Despite the stats from this survey, however, some Americans might prefer to hold out a bit longer for an electric vehicle until prices decrease. Some companies like Envision Energy predict that EVs will be more affordable than gas-powered ones by next year.

Only time will tell whether more Americans will buy an EV now or postpone this decision for another year or two.

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News Source: Green Car Reports