CBS Poll Shows High Fuel Prices Are Driving Interest in EVs

A recent survey has found that about one-third of adults in America would consider purchasing an electric vehicle if they were in the market for a car. However, roughly 40% admitted that they wouldn’t consider the purchase of an electric car. The survey was carried out by CBSNews/YouGov, with a sample of 2,062 adult residents in the United States. The interviews were conducted between April 5–8, 2022.

Those surveyed cited the increasing price of gas as a major reason for wanting electric cars, coupled with the belief that electric cars were better for the environment. Overall, however, higher gas prices have not caused more individuals to consider the purchase of an electric vehicle over a gas-powered vehicle.

The survey found that even among individuals who cited gas prices as a reason they felt the economy was in a bad state, a large number would prefer buying a gas-powered vehicle over an electric or hybrid vehicle.

Past polls have highlighted a number of practical reasons as to why people wouldn’t consider an electric vehicle, with the cost of these vehicles being a major reason why individuals wouldn’t consider their purchase. Additionally, views on energy policies also inform whether or not individuals would consider buying an electric car. The survey found that those who felt that policies should encourage the use of electricity from wind and solar sources rather than oil or coal were more likely to consider buying a hybrid or an electric car.

On the other hand, the survey also found that those who felt that energy policies in the United States shouldn’t encourage the use of green-energy sources and would instead prefer that they encourage power from coal or oil, were less likely to consider purchasing a hybrid or electric car.

For a long time now, people who profess being affiliated to a specific party have held different opinions on how America should deal with environmental issues and climate change. The survey found that in comparison to Republicans, Democrats were more likely to view climate change as an urgent issue that needed to be dealt with, which is why they were more likely to consider the purchase of an electric vehicle.

The nationally representative sample included in the survey was weighted according to education, race, age and gender, based on the 2020 presidential vote, the Current Population Survey and the U.S. Census American Community Survey.

As the cost of acquiring an EV gradually drops, we are likely to see more electric vehicles being produced by sector players such as ElectraMeccanica Vehicles Corp. Ltd. (NASDAQ: SOLO) as EV adoption becomes widespread in all segments of the automotive market.

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