Cox Automotive 2024 Path to EV Adoption Study
ATLANTA, May 14, 2024 – A second, significant wave of shoppers ready to consider buying an electric vehicle (EV) is poised to begin entering the market in the second half of the decade, according to the latest findings from the 2024 Path to EV Adoption Study by Cox Automotive. The findings indicate that nearly half of all vehicle shoppers in market today are not even considering an EV – a group the study identifies as Skeptics, shoppers who are only considering vehicles powered by traditional internal combustion engines.
But the Skeptics are coming, the study suggests. As technology improves, the U.S. charging network expands and prices moderate further, 54% of current Skeptics will become EV Considerers within three to five years. Within the next ten years, 80% of today’s Skeptics will be ready to consider an EV as more barriers fall.
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About Cox Automotive
Cox Automotive is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, auto manufacturers, dealers, lenders and fleets. The company has 29,000+ employees on five continents and a portfolio of industry-leading brands that include Autotrader®, Kelley Blue Book®, Manheim®, vAuto®, Dealertrack®, NextGear Capital™, CentralDispatch® and FleetNet America®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with $22 billion in annual revenue. Visit coxautoinc.com or connect via @CoxAutomotive on X, CoxAutoInc on Facebook or Cox-Automotive-Inc on LinkedIn.
