The Rise of Electric Vehicles in the US

• July 26, 2023

Understand how social movements affect consumer preferences to put the right products & services in front of the right customers.

As environmentalism and sustainability increasingly become top of mind for American consumers, the market for electric vehicles (EV) is surging. Understanding the shifting priorities and preferences of prospective auto buyers can help auto brands and dealerships recommend the right models to potential customers. 

Here are the top things to know about the EV market and drivers in the US:

Electric vehicles are becoming more ubiquitous in everyday life

From travel and dining to retail and leisure, there is an increased correlation between Q1 foot traffic to a variety of categories–such as hotels, cafes, and big box stores–and Q1 foot traffic to EV charging stations.

Holiday sales lead to a spike in EV ownership

In 2022, EV charging stations saw the greatest spikes in visitation during Black Friday weekend and in the days leading up to Christmas. Price can often be a deterrent for prospective EV buyers, and it appears that holiday sales are giving them the push they need to make the purchase.

The percent of Americans driving EVs doubled in 2022

Between January 2022 and December 2022, the percentage of Americans who visited an EV charging station at least once increased from 1.8% to 3.4%.

Travelers are likely to rent EVs during their trips

EV charging stations visitors are more likely than the average American to visit several car rental and hotel chains. It’s likely that prospective auto buyers are testing out EVs while on trips to decide if they want to commit to purchasing one.