Experian and J.D. Power each recently offered new research focused on consumer appeal for electrified vehicles. The separate projects reached similar conclusions — potential buyers are charged up about potentially getting an EV or hybrid model.

While EVs selling in the wholesale market are at all-time highs, a J.D. Power study revealed that 24% of vehicle shoppers say they are “very likely” to consider purchasing an EV and 35% say they are “somewhat likely,” both of which remain unchanged from a year ago.

And Kirsten Von Busch recapped in a blog post that Experian’s research showed 55% of respondents said they would consider a new hybrid and 50% said they would consider a new EV for their next vehicle purchase.

On the used side, Von Busch noted 38% of respondents in Experian’s survey said they would consider an EV and 42% would consider a hybrid.

Sounds like there’s a lot of juice for electrified vehicles in both the wholesale and retail spaces.

“Despite the market volatility, EVs have found a solid ground for consumer consideration,” said Brent Gruber, executive director of the EV practice at J.D. Power. “To further capitalize on that interest and spur adoption moving forward, the industry needs to have products that meet consumer needs and wants at prices that are affordable.

Additionally, the industry should better educate consumers about EV ownership to ease concerns—many of which, such as those related to public charging, are less problematic than they might seem when it comes to actually owning an EV,” Gruber continued in a news release.

The J.D. Power 2025 U.S. Electric Vehicle Consideration (EVC) Study several other key findings, including:

EV customers active in cross-shopping

EV shoppers who say they are “very likely” to consider an EV cross-shop an average of 2.9 brands, while those who say they are “somewhat likely” shop an average of 2.8 brands.

Researchers explained this finding is in alignment with the J.D. Power 2024 U.S. Sales Satisfaction Index Study, which found EV buyers shopped 3.0 different dealer brands compared to 2.5 for gas-powered vehicle shoppers.

“As more EV options come to market, this should serve as an encouraging sign for automakers because it’s an opportunity for them to gain a foothold and pull shoppers from outside their brands,” Gruber said.

“This year’s study results also show that EV shoppers consider products from mass market and premium brands alike, highlighting the opportunity to capture consumer interest with brands or products that shoppers may not have otherwise considered,” he continued.

Purchase price and cost of ownership concerns decline, while charging concerns persist

The J.D. Power study revealed charging station availability remains the top concern, with 52% of shoppers citing it as a reason for rejecting EVs.

The continuing concern with charging, coupled with flattening overall EV interest, points to a lack of progress in consumer education on these issues, according to J.D. Power.

However, while consumer rejection due to purchase price has dropped 4 percentage points year over year to 43%, researchers noticed concern with cost of ownership has dropped 2 percentage points to 33%.

Young and higher-income shoppers show most interest but rarely overlap

Only 17% of consumers who are in the 25-49 age range have an annual income of over $100,000, according to J.D. Power.

“It’s an interesting dichotomy because younger consumers are the most receptive to EVs, but also the least likely to be able to afford them, while older consumers have the financial means but show less interest,” Gruber said. “Much of the recent growth in the EV space has been fueled by products from mass market brands, which demonstrates the pent-up demand for more affordable products.”

Midwest states least enthusiastic about EVs

When looking at EV consideration by region, J.D. indicated the lowest shares of consumers who say they are “very likely” to consider purchasing an EV live in Wisconsin and Kentucky (18% each), Minnesota (17%) and Ohio (16%).

Researchers determined these data points are influenced by several factors, including concerns about EV performance in cold climates and the stronger loyalty of consumers in these regions to traditional automakers.

Turning back to Von Busch’s blog post, a recent Experian survey about EVs revealed 65% of respondents said they prioritize battery life, while 62% consider price, 58% are concerned with range on a full battery and 53% are focused on infrastructure and maintenance.

The Experian survey also showed 67% of Gen Z and 61% of millennials are likely to buy a new EV, while 62% and 63% of these groups, respectively, expressed similar intentions for purchasing new hybrid.

Von Busch also mentioned Gen Z and millennials showed a stronger-than-average interest on the used side, with 57% and 49% opting for EVs, and 57% and 52% choosing hybrids.

“With the younger generations gravitating towards these fuel types, it’s likely going to influence adoption rates down the road, a trend that should be watched closely as manufacturers roll out more models to meet the growing demand,” Von Busch wrote.

“It’s crucial for professionals to stay attuned to shifting trends and concerns among consumers, as these factors play a role in consumer decision-making,” she added. “By addressing potential setbacks and knowing where their target audience is, they can better align their strategies with consumer needs as these fuel types continue to move up on the list for everyday commuters.

Experian commissioned Atomik Research to conduct an online survey of 2,005 adults throughout the United States on March 24-27. The sample consists of adults who estimate they will purchase or lease their next vehicle within the next 24 months or sooner.

J.D. Power’s U.S. Electric Vehicle Consideration (EVC) Study is now in its fifth year and examined includes overall EV consideration by geography; demographics; vehicle experience and use; lifestyle; and psychographics. It also includes model-level consideration details such as “why buy” findings and analysis of reasons for EV rejection.

This year’s study measured responses from 8,164 consumers who intend to buy or lease a new vehicle in the next 12 months and was fielded from January through April.