In a recent survey conducted by McKinsey, it has been uncovered that the United States is facing a significant hurdle in the electrification of its vehicle fleets. The survey encompassed over 30,000 respondents across 15 countries, with 46% of electric vehicle (EV) drivers in the US expressing a desire to switch back to vehicles powered by internal combustion engines.

The primary reasons cited for this shift back to gas-powered vehicles include the challenges associated with public charging infrastructure, high total costs of ownership, and limitations on driving patterns for long-distance journeys. Australia, a country known for its extensive travel distances, topped the dissatisfaction charts, with 49% of EV owners considering a return to gas-powered vehicles.

Globally, the study found that the average figure for EV drivers willing to revert to traditional vehicles stands at 29%. Interestingly, European nations and Japan emerge as the most supportive of battery-powered vehicles, with only a small percentage of drivers in these regions indicating a likelihood of switching back to gasoline or diesel vehicles.

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However, the survey also highlights the pressing need for improvements in charging infrastructure to bolster confidence in EVs. Current EV owners have expressed concerns over the inadequacy of chargers on highways and in urban settings, with McKinsey stating that the US must ramp up its charge point availability significantly to match the convenience of traditional gas stations.

Back in February,  House Republicans demanded answers from Biden Secretaries Granhom and Buttigieg as to why the progress has been so slow despite having been allocated plenty of funds:

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The Institute For Energy Research recently reported on ‘Biden’s Massive EV Charging Station Failure.’ Below are their 5 key takeaways:

Image Credit: Institute For Energy Research

Furthermore, the findings of the survey raise red flags for fleets invested in EVs, as a significant portion of new EV owners in the US show a willingness to turn away from zero-emission technology. This uncertainty around future demand for used EVs has already begun impacting resale values, with the top-selling electric cars witnessing a notable decline in prices.

iSeeCars reported that the ‘Prices of Used EVs Drop Below Used Gas Cars for the First Time‘ just ten days ago. Below are four highlights from their report:

  • Used electric vehicle prices fell below used gasoline vehicle prices in February and continue to fall faster than prices for traditional and hybrid cars
  • EV prices dropped below average used gas car prices by $265 in February, widening to $2,657 in May
  • In June 2023, used EV values were more than $8,000 (25 percent) higher than the average used gas car price; last month they were $2,657 (over 8 percent) lower than the average used gas car price
  • Over the past year average used gas car values have dropped between 3 and 7 percent year-over-year, while used EV values have dropped between 30 and 39 percent

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