Decline in US Electric Vehicle Interest Linked to Charging and Cost Concerns

J.D. Power study reveals first drop in EV consideration since 2021, highlighting infrastructure and affordability issues.

Interest in EV purchases has declined for the first time since 2021, according to a J.D. Power study.
Concerns about charging infrastructure and high prices are major deterrents for potential buyers.
Only 24% of prospective buyers are 'very likely' to consider an EV in 2024, down from 26% last year.
Tesla and Ford have reported financial strains due to the waning demand for EVs.
Younger generations show higher interest in EVs but are still deterred by cost and charging issues.