Let’s dive into the current state of who is buying electric cars, what they are buying, and how happy they are with their purchases. 

2024 - fewer EV shoppers but more EV drivers

A 2024 Gallup poll found that 44% of Americans are either seriously considering or potentially considering EV purchase in the future. This number decreased from 55% in 2023, even as EV purchases leapt from 4% to nearly 7%, with new EV sales on their way to an expected 11% by year end. 

How is this possible? 

One key factor is that Americans who already drive EV, love them. 

• Experian found that 77% of EV drivers plan to stay electric. 
• Plug-in America’s drivers reported that 89.4% of them will purchase another electric car. 
• Globally, 92% of drivers plan to stay electric.

Since so many EVs are leased, turnover happens every 36 months, which explains some of the growth in ownership. 

Who is Buying an Electric Vehicle in 2024?

EV ownership trends show patterns that are reflected in many of 2024 surveys, including Plug In America, Experian, JD Power, and Gallup. Current EV ownership skews towards Generation X and Millennials, while Generation Z and those 65 and older are less likely to own one. 

Interestingly, Plug In America found that EV owner satisfaction increases with driver age, with drivers 75+ much more likely to purchase another EV than drivers 18-24 years old (more on that below).  

• Age: Only 3% of those aged 65+ own an EV, and they are significantly less likely to consider purchasing one than younger generations. Among Gen Z and Millennials, 24% and 32% respectively say they are “very likely” to consider an EV, though these percentages have dropped since 2023, likely due to affordability concerns.
• Gender: EV ownership is 70% male and 30% female, compared to a more balanced 60/40 male-to-female ratio across all vehicle ownership.
• Household Characteristics: 85% of EV owners live in single-family homes, where charging is easy and convenient. 

Homes with one EV often have additional vehicles that are:

• Gasoline-powered (81%)
• Hybrid (14%)
• Electric (12%)

Interestingly, multi-child households are far less likely to adopt EVs. This is probably due to the lack of three-row models that can accommodate a family. 2024 saw a new crop of such vehicles so future surveys may show this trend reversing. 

Income: Ownership and intent to purchase an EV correlate with income. And although intent to purchase an EV has dropped across the board this year, lower-income groups show the most significant drop in interest. 

Commuting and Usage Patterns: Long commutes are associated with reduced interest in EVs, likely influenced by lower gas prices this year. Only 24% of long-distance commuters are likely to purchase an EV, down from 37% in 2023. This is too bad, since long distance drivers can save the most money and emissions if they switch to electric. 

For multi-car households, 68% are open to considering an EV, compared to 47% among single-car households. This reflects a lot of the anxieties that people still have - more below!

Bidirectional Charging: Interest in bidirectional charging is higher among premium EV owners, which include Teslas, who famously do not offer it. Around 35% of premium EV owners are willing to pay for this feature, compared to 29% among mass-market EV owners.

Why Are People Buying Electric Cars?

Accenture surveyed all car buyers in 2024 and found that for 80% of people, reliability, safety, and price are the main purchase factors. When you look at just EV buyers, they are primarily motivated by environmental concerns, cost savings, and the fun of driving an EV. 

Specific motivations vary across demographics:

Clean Air and Environmental Impact: This is the most important issue for 40% of EV buyers. Environmental concern is more pronounced among older adults (50% for those 65+) and women (53%, versus 38% of men). Early adopters who bought between 2011 and 2014 were also more likely to be motivated by environmental benefits (50%) compared to recent buyers (30-40%).

Climate Change Attitudes: Gallup data reveals that those who worry “a great deal” about climate change are somewhat more likely to own an EV (8%) or seriously consider buying one (14%) compared to those who worry only “a fair amount” (9%) or not much at all (5%). This is in line with Plug-in America’s findings, which show that 95% of drivers who rate environmental and clean air concerns as a main influence plan to buy another EV.  

Cost Savings: Approximately 19% of buyers are primarily motivated by cost savings, especially among younger and minority groups, who prioritize financial benefits over environmental impact. This figure is higher globally.

New Tech: While cool technology is not the most important purchase factor, it is a big part of repeat purchases. More than 90% of current EV drivers who prioritize the newest or most cutting edge technology plan to get another EV. 

Enjoyment: The pleasure of driving electric is cited by 13% of EV shoppers as a key motivator. Once people make the switch and experience an electric car, it becomes a big factor in staying electric. 86% of drivers who prioritize performance plan to buy another EV. 

Home Charging as an Incentive: Affordable home charging is critical for 32% of buyers, and free public charging incentives are also popular, with nearly half of EV users taking advantage of these when available.

Which Electric Cars Are Popular?

The EV market remains dominated by mid-size vehicles, which are still most of what’s out there. Income is a significant factor in model selection and will likely become more polarized as new, lower price models come out in the next few years. Shoppers looking for a luxury experience will have the same roster of options, while budget conscious consumers will be able to look at more entry priced cars. 

Vehicle Size Preferences: According to Experian, 72% of new EV registrations are mid-sized vehicles, followed by subcompact/compact (18%) and large/full-size vehicles (9%).

Income and Model Selection: Once household income hits $150,000, drivers shift from mass market EVs to the luxury segment. Tesla, which has been the single largest EV brand in the country for years, is considered luxury, despite many Model 3 and Model Y buyers coming from economy vehicles, such as the Honda CRV or Civic, Toyota Camry, Corolla, or RAV4.

New vs. Used Purchases: Most buyers are choosing new models, with 84% of EVs purchased new in 2023 and 81% in 2024. We expect the share of used EV buyers to slowly increase until 2026, when a wave of lease returns floods the market, giving shoppers new choices at lower prices. 

Are People Satisfied with Their Electric Car?

While satisfaction with EV ownership is generally high, it varies by experience level and model. There are multiple satisfaction measurements:

General Satisfaction: According to Experian, 77% of electric drivers plan to stay electric, with 16% switching back to gas and the rest moving to hybrids. Among those driving plug-in hybrids (PHEVs), 28% transition to fully electric vehicles, while 28.5% return to gas. 

Plug-in America saw that, on average, 89.4% of EV drivers would buy another EV. Younger drivers were least likely to buy another, with only 66.4% intent, and drivers 75+ most likely, with 92% intent.  

A survey from the Global EV Alliance found that 92% of worldwide drivers will stay electric, with 1% going to a gas car and 4% going to a plug-in hybrid.

Brand and Model Loyalty: Plug-in America drivers report that Tesla leads in brand loyalty, while Rivian ranks highest in overall satisfaction, excelling in aspects like reliability, comfort, safety, and performance. 

According to JD Power, the top-rated premium model is the BMW i4 and the top rated mass-market EV is the MINI Cooper Electric.

Fun fact: in the Recurrent community, 1/3 of Rivian drivers have at least one Tesla!

Satisfaction by Experience Level: JD Power finds that experienced electric vehicle owners are 28 points more satisfied than first-time owners, with the gap primarily driven by concerns over battery range and public charging access. First-time owner satisfaction has dropped by 16 points from 2023. Many of this year’s studies reflect stagnation or growing dissatisfaction with public charging, which may explain why newer EV drivers are less satisfied. 

Similarly, since early adopters were more likely to be buying electric to support their environmental values, they may be more willing to compromise on convenience.

Charging Satisfaction: Tesla Supercharger users report the highest satisfaction among public charging options, scoring 731 points on a 1,000-point scale. However, satisfaction with public Level 2 charging has declined to 614, down 3 points from last year. Plug-in America found that public level 2 charging was not frequently used. 

What are the Barriers to EV Adoption?

My colleague Scott Case studies EV adoption, which is on pace to reach 50% by 2030. Despite high satisfaction rates, there are still barriers that hinder EV adoption, especially related to affordability, charging, and limited information. 

Affordability: The high upfront cost of EVs continues to deter many potential buyers, especially among lower-income groups. The shortage of affordable EV models is a key barrier and limits the satisfaction of young drivers and drivers of color. These two groups self-report that they are particularly price sensitive. 

Charging and Range Anxiety: Charging concerns persist, with 52% of hesitant buyers citing a lack of charging station availability. Other major factors include the time required for charging (45%), limited driving distance per charge (43%), and inability to charge at home or work (37%). Concerns over grid stability (33%) and inadequate EV performance in extreme temperatures are also deterrents. 

PIA reports that almost all of these charging anxieties decrease with ownership, except the worry about adequate and reliable public charging. 

EV ownership or purchase intent for drivers who live in multi-family housing remains complicated, since installing chargers can be an expensive investment for property owners. However, research firm Park Associates recently found that for upmarket and luxury properties, 

“32% of multifamily owners and operators plan on deploying, upgrading, or replacing EV charging stations in at least one of their properties within the next 12 months.”

Their study also shows the where EV chargers tend to be located in multi-family homes. 

Information Imbalance between Genders: Women are less likely to own or shop for an EV, and more likely to rely on in-person research and test drives. Despite this, more women report having unsatisfying dealer experiences and not having all their questions answered in store. 

On the other hand, men are more likely to engage in online research prior to a purchase: (71% compared with 64% of women), videos (34% versus 27%), online forums (22% versus 15%) and vehicle-building tools on manufacturer websites (22% versus 17%). 

Information and Incentive Awareness: Plug-in America found that many consumers had difficulty accessing information on real-world EV performance and available incentives. Of EV buyers from 2023 and 2024, 64% report that they took advantage of the federal EV tax credit, despite much higher actual use rates. In our own experience, dealer unfamiliarity with the federal and local incentives was a stumbling block for many EV shoppers. 

Plug-in America, JD Power, and our own surveys show that many concerns about EVs lessened after ownership. The two big caveats are the impact of weather on their EV and public charging reliability. Younger drivers saw concerns drop the least, likely because they are least likely to own a house and have home charging. 

How Do Owners Charge their EV?

Charging experiences vary widely. While JD Power reports that “the ease of home charging is the most satisfying single aspect of the EV ownership,” public charging options still presenting challenges:

Home Charging: Roughly half of all EV owners charge at home every day, with another 43% using home charging weekly. Despite the potential cost savings of special charging rates, only 26% of EV owners use programs offered by their electric utility. Nearly half of owners (49%) are unaware of such programs, indicating a gap in utility communication.

Public Charging: JD Power reports that satisfaction with DC fast chargers improved by 10 points in 2023, reaching a score of 664/1000. They attribute this to the inclusion of other brands in the Tesla Supercharging network, and Plug-in America concurs, adding that “a higher percentage of respondents indicated that not having enough chargers at each location and nonfunctional or broken chargers are greater concerns than last year.”

It's not a surprise that public charging satisfaction is highest for Tesla Supercharger users. Non-Tesla users of this network also report higher-than-average satisfaction (706). As more and more brands have access to the Supercharger network, it will be interesting to see how satisfaction levels change for Tesla and other EV drivers.

Public Level 2 chargers are used less frequently, with most drivers charging only once per week or less. Still Tesla’s Level 2 chargers ranked highest at 658, followed by Volta (645) and ChargePoint (626). Ease of payment and charging experience are major factors contributing to the satisfaction gap between Tesla and non-Tesla users.

In summary, while the EV market faces obstacles in affordability, charging infrastructure, and consumer knowledge, high satisfaction rates among existing owners suggest promising growth potential—particularly as charging infrastructure expands and more affordable models become available.