Prices above $25k limit consumers interest in EVs

Prices above $25k limit consumers interest in EVs

Although consumers rate electric vehicles and hybrids favorably, the fact that prices are above $25,000 limits interest in buying one, according to a new survey by Navigant Research.

Most consumers surveyed say they plan to spend less than $25,000 on their next vehicle, and most EVs cost more than that. Nearly 50 percent of consumers said high fuel economy was the most important feature in a vehicle. But more than half of those surveyed said they also want high performance, including acceleration and handling, plus all-wheel drive capabilities. Environmental benefits, such as zero emissions, were lower priorities, according to the report.

Sixty percent of respondents agreed that EVs are much cheaper to own in the long run than gasoline cars.

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