SANTA
MONICA, Calif., April 12,
2022 /PRNewswire/ -- TrueCar, Inc. (NASDAQ:
TRUE), the easiest, most efficient and transparent online
destination for buying and selling new and used vehicles, recently
commissioned a survey of 1,000 U.S. adults about their attitudes
and shopping behaviors in regards to electric vehicles. The survey
showed that rising fuel prices have garnered unprecedented interest
in EVs among a wider array of consumers than ever. In fact,
over the last month TrueCar experienced a 380% increase in EV
prospects year-over-year and a 180% jump year-over-year for
hybrids.
The TrueCar survey found that the proportion of consumers who
say they are "extremely likely" to purchase an EV increased by 50%
from July 2021 (from 14% to 21%).
"Now, budget-minded shoppers have joined the technophiles and
environmental stewards who represented many of EVs' early
adopters," said Mike Darrow,
President and CEO at TrueCar. "Throughout the last month we've seen
a huge spike in electric vehicle and hybrid prospects on TrueCar
sites. As for the EV that has been most popular, we're seeing Kia's
EV6 as the vehicle with the highest scarcity," he said.
With fuel prices at an all-time high, 57% of survey respondents
say they are now more likely to consider an EV due to those rising
costs. Of those planning to make a purchase in the next six months,
two-thirds say they are now more likely to consider an EV.
Even so, consumers still have varying levels of interest in EVs.
Men remain more likely to purchase an EV than women (59% vs. 45%
likely), but interest among both groups has increased since
July 2021, and the gender gap has
narrowed. The age groups most likely to consider an EV have moved
younger in that timeframe, with 20–29-year olds now the most likely
to consider an EV.
Although EV consideration has grown significantly, there are
still meaningful concerns around the related issues of charging and
range. Access to charging remains key: 70% of those who say they
are unlikely to purchase an EV do not have access to charging at
home. And of these, two-thirds cannot install a charging
station at home, making a dense public infrastructure critical for
widespread adoption.
Mike Darrow provides
commentary on the survey in this video.
Note: For any interested parties who would like to discuss
the survey further, Mike Darrow will
be at the New York Auto Show, April
12 and 13.
About TrueCar
TrueCar is a leading automotive
digital marketplace that enables auto buyers to connect to our
nationwide network of Certified Dealers. We are building the
industry's most personalized and efficient auto buying experience
as we seek to bring more of the purchasing process online.
Consumers who visit our marketplace will find a suite of vehicle
discovery tools, price ratings, and market context on new and used
cars – all with a clear view of what's a great deal. When they are
ready, TrueCar will enable them to connect with a local
Certified Dealer who shares in our belief that truth, transparency,
and fairness are the foundation of a great auto buying experience.
As part of our marketplace, TrueCar powers auto-buying programs for
over 250 leading brands, including AARP, Sam's Club, Navy Federal
Credit Union and American Express. TrueCar is
headquartered in Santa Monica, California, with an office in Austin,
Texas.
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SOURCE TrueCar.com