FROM AFFORDABILITY TO CAPABILITY, CARS.COM'S 2023 EV BUYING GUIDE NAVIGATES SHOPPERS THROUGH THE EVER EV-OLVING ELECTRIC VEHICLE FRONTIER
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More Car-Shopping Americans Are Considering Making the Move to Electrics as Searches for New and Used EVs on Cars.com Have Increased 84%, With Middle America Jumping on the EV Bandwagon
"Families are starting to see EVs that reflect their lifestyles and what they need from a vehicle, which is a variety of options that make the car attractive and exciting from more than just a fuel-savings perspective," said
Consumer interest in EVs is growing. Searches for new and used EVs on
The Consumer Conundrum: Availability, Accessibility and Affordability
In a year fraught with economic uncertainty, consumers are caught amid a slew of competing forces and priorities, which
The other most common purchase barrier? Lack of public-charging infrastructure. But in yet another reflection of consumers' EV conflict, 69% of respondents say that public charging stations are at least somewhat prevalent around their work or home, and over half (54%) say they currently have access to EV charging.1
Pandemic-related upheaval and inventory supply issues generated pent-up consumer demand that automakers are just now beginning to meet. The promise of long-term fuel savings and lower maintenance costs, combined with attractive tax incentives and competitive market pricing, make an EV a more appealing purchase option than ever. Even the secondary market makes an EV seem like a no-brainer investment; of EV owners who have traded in their electric vehicles, 55% say they received more than expected on their trade-in,1 and with used EV searches on
"The trade-in market may prove to be key for EV adoption in the current economic climate as more models pop up in dealers' used inventory," said Normile. "Even as half of in-market car shoppers say they believe EVs are affordable, 62% believe a new EV will cost an average of
The 2023 Cars.com Affordability Report put the median price for the EV category at just shy of
Access the 2023 Cars.com EV Buying Guide here. For more reviews, car-buying advice and tips, visit Cars.com/EV.
1
2 Cars.com Internal Data, Feb. 2022-Feb.2023 YOY
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CARS is a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions that connect car shoppers with sellers. Launched in 1998 with the flagship marketplace
In addition to
The full suite of CARS properties includes Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, CreditIQ™, Accu-Trade™, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.
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