As More Electric Vehicles Hit The Market, Interest Accelerates
Kristen Andersson
Director, Client InsightsConsumers have more choice than ever for alternative fuel vehicles. Automakers have steadily introduced new alternative fuel vehicles, further sparking awareness and interest in these segments. Improved infrastructure, greater affordability, support from the government and incentives all help boost interest and adoption of EVs.
In a survey from Comscore’s State of Auto earlier this year, nearly four in ten new vehicle intenders were likely to consider purchasing an electric/hybrid vehicle, an increase of eight percentage points from a year ago.
Automakers have introduced a variety of new model options outside of traditional internal combustion engine vehicles, including fully electric, hybrid, and plug-in hybrid vehicles. In July 2021, 36% of online new vehicle prospects shopped battery electric vehicles (BEVs) while 12% shopped hybrid models (HEVs) and nearly 5% shopped plug-in hybrids (PHEVs).
Jul-21 | Share of Shopping |
Battery Electric Vehicles | 36.3% |
Fuel Cell Electric Vehicles | 0.4% |
Hybrid Electric Vehicles | 12.2% |
Plug-In Hybrid Electric Vehicles | 4.8% |
Gasoline | 46.3% |
PHEVs saw the most growth year over year, up 155% from July 2020. Among HEVs, the new Ford Maverick was the most-shopped model in July 2021, while Toyota was the most-shopped HEV brand, coinciding with its robust hybrid model lineup. The newly introduced plug-in Jeep Wrangler was the most-shopped model in the plug-in segment. But while growth in those two electric segments is through the roof, the BEV segment continues to lead the way, dominated by the fully-electric Tesla brand with the Model 3 being the most-shopped model. Outside of Tesla, the Ford Mach-E is widely shopped and has been since the start of 2021.
July 2021 US In-Market New Vehicle Shoppers
| Share of Shopping | Y/Y Growth | Most Shopped Make | Most Shopped Model |
BEV | 36.30% | +51.3% | Tesla | Tesla Model 3 |
HEV | 12.2% | 129% | Toyota | Ford Maverick |
PHEV | 4.8% | 155% | Jeep | Jeep Wrangler |
Consumers looking for an alternative fuel vehicle that fits their needs will be happy to learn that new electric vehicles and plug-in hybrid electric models will continue to be introduced across several segments. With more consumers choosing the electric vehicle route, they're not only going green, but also saving green. In the long run, electric vehicles are cheaper to maintain. According to U.S. National Renewable Energy Laboratory (NREL) Research, electric vehicles save up to $14,500 in fuel costs over 15 years of driving compared to gasoline vehicles.1
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