Study: Car Buyers Are Opening Up To EVs, Tesla Most Trusted Brand

Will EV interest skyrocket in the near future? While Tesla is the most trusted, other brands are stepping up to the plate.

By: EVANNEX

May 20, 2021 at 11:20am ET

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Posted on EVANNEX on May 20, 2021 by Matt Pressman

? Sure, Tesla has proven successful. But, are car buyers ready to switch, en masse, to EVs? It turns out that "another study has emerged that says consumers are 'more open' to electric vehicles," according to MediaPost.

Source: EVANNEX; Photo by Casey Murphy

"That sentiment has doubled since 2018, per the CarGurus Electric Vehicle Sentiment Survey. Tesla is once again the most trusted EV brand, but most shoppers are open to others, per the study," reports MediaPost's Tanya Gazdik. It turns out CarGurus recent findings echo similar surveys from both Consumer Reports and J.D. Power.

"When asked how likely [survey respondents] were to own an electric vehicle within the next five years, 30% of respondents noted that they were probably or definitely going to do so — a number that has doubled since 2018," says Gazdik.

"Tesla earned top status as the most trusted company to make electric vehicles, and that trend continued, with 36% of respondents in this most recent study putting their faith in the company to develop EVs," reports Gazdik. However, car buyers are increasingly open to other brands as well.

"More than half (57%) of respondents would be much more likely to consider purchasing an electric vehicle if gas prices were at $5 per gallon, and 26% would do so if gas were at $4 per gallon. Among those who plan to own an [EV] in the next 10 years, 73% would consider buying a new electric vehicle, and 67% would consider the SUV/crossover body style," notes Gazdik.

CarGurus analyzed consumer feedback on an array of EV-related topics. The survey of 1,097 U.S. automobile owners was conducted in February 2021. Respondents were balanced in terms of key demographics (gender, region, income) in alignment with the U.S. census. CarGurus also surveyed owners in 2019 (n= 1,702) and 2018 (n=1,279) for earlier iterations of this benchmarking study.