New research shows Americans are willing to pay more for electric vehicles than international buyers, though they’re all concerned about price, range and charging.
Compare the Market, a price comparison website, surveyed more than 3,000 adults across America, Canada and Australia and found that while U.S. buyers are willing to pay substantially more for EVs, about half the respondents indicated battery-powered vehicle prices are a concern versus traditional vehicles.
Adrian Taylor, Compare the Market’s general manager of car insurance, said EV prices are expected to come down in coming years amid strong competition among automakers.
“Whether you’re in the market for a new vehicle or are already in possession of one, it’s always best to weigh up your options and which type of car is going to suit your needs,” he said in a statement.
Pablo Di Si, Volkswagen Group of America’s chief executive, said in a recent interview that the Chattanooga-made ID.4 electric SUV is the only full-battery EV made by a foreign automaker to qualify for the entire $7,500 federal tax credit for buyers under new government rules.