(NewsNation) — Most Americans say they are unlikely to buy an electric vehicle (EV) as their next car but an increase in gas prices may sway some people, according to a new poll by Yahoo Finance/Ipsos.
Approximately one in three Americans indicated a likelihood of choosing an electric car for their next vehicle purchase. Notably, those with a college degree are considerably more inclined to opt for an EV than those with a high school diploma or lower education.
Millennials and Gen Xers are also significantly more inclined to embrace EVs compared to Baby Boomers.
When assessing the impact of gas prices on the likelihood of purchasing an EV, the effect varies with small and large increases in gas prices. Forty-nine percent express a higher likelihood of choosing an EV if gas prices average $6 or $8 per gallon, while 56% are more inclined to opt for an EV if gas prices reach an average of $10 per gallon.
The primary concerns related to purchasing an EV include the scarcity of charging stations, limited driving range and the overall cost in comparison to traditional gas-powered vehicles.
Over the past year, automakers have invested billions to produce electric vehicles that qualify for federal tax credits, but for now, most are still playing catch-up to meet the requirements.
Roughly one-third of the respondents expressed concerns about the lack of diversity in EV models or brands and driving/styling characteristics.
This poll, conducted from Sept. 29 to Oct. 1, 2023, by Ipsos using the probability based KnowledgePanel, is based on a nationally representative probability sample of 1,025 adults aged 18 or older from the general population.