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Rising gas prices influence Tesla and electric car purchases: survey

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There are numerous factors to consider when one is looking to purchase an electric car. There’s the specs, the range, and the company that is building the vehicle. As the results of a March 2021 survey shows, rising gas prices are also an apparent factor for consumers when they are deciding to purchase an electric vehicle. 

The United States recently experienced a gas crisis after Colonial Pipeline fell victim to a cyberattack. The disruptions to Colonial Pipeline triggered notable fluctuations in gas prices, resulting in numerous consumers buying large amounts of fuel in panic. Colonial Pipeline operations have since restarted, but average gas prices still hit $3.02 this week, the highest since 2014. 

What must be pointed out is that this will not be the last time that gas prices spike in the United States — and this could motivate more people to buy electric cars. According to the results of a survey conducted by CarGurus on March 2021, the percentage of car buyers who consider an EV as their next vehicle rises as gas becomes more expensive. This means that the more expensive fuel becomes, the more buyers would likely be open to an electric car. 

Credit:CarGurus

Among the survey’s questions was an item that asked respondents what price per gallon would they consider buying an EV. At $4 per gallon, 26% of the survey’s respondents stated that they would be much more likely to consider purchasing an electric car. At $5 a gallon, 57% of respondents said they would be willing to buy an EV. And it just goes up from there. 

But not all EV brands are the same, and this became evident in the CarGurus survey too. As per the study’s respondents, consumers trust Tesla the most to develop electric cars. Respondents also ranked Tesla as the company that they are most likely to consider when purchasing an electric car. That being said, 80% of respondents also noted that they are open to several brands when it comes to buying EVs, which should be encouraging to other carmakers like Ford, which is now starting to roll out new electric vehicles. 

The full link to CarGurus’ March 2021 survey could be found here

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Rising gas prices influence Tesla and electric car purchases: survey
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