Owning an Electric Vehicle is the Cure for Most Consumer Concerns

ORLANDO, Fla. (Jan. 22, 2020) – New research from AAA finds that over five years and 75,000 miles of driving, the annual cost of owning a new compact electric vehicle is only slightly more expensive – about $600 annually – than its gas-powered counterpart. The study also revealed that the experience of owning an electric vehicle eases one of the biggest fears associated with these cars – range anxiety.

According to AAA’s survey, prior to owning an electric vehicle, a majority of owners (91%) said that they had at least one concern – things like insufficient range, implications for long-distance travel and finding a place to charge. Post purchase, many of these worries disappeared. AAA believes that if consumers have a better understanding of the real cost and experience of owning an electric vehicle, then the gap between expressed interest and adoption will begin to close.

“Although 40 million Americans have shown interest in buying electric for their next car, actual adoption is happening at a much slower rate,” said Greg Brannon, AAA’s director of Automotive Engineering and Industry Relations. “AAA wanted to understand what kind of impact the experience of owning an electric vehicle has on perception of these cars and maybe more importantly, if given the chance would consumers choose to go green again.”

AAA’s survey of electric vehicle owners, 71% of whom had not previously owned an electric car, revealed some interesting results:

• The majority (96%) say they would buy or lease another electric vehicle the next time they were in the market for a new car.
• Two in five (43%) say they drive more now than when they owned a gas-powered car. On average, electric vehicle owners drive 39 miles per day.
• Three quarters (78%) also have a gas-powered car in the household, yet they report doing a majority of their driving (87%) in their electric vehicle.