New 2021 Ford Mustang Mach-E Gives a Much-Needed Jolt to the Market as the Highly Anticipated All-Electric Crossover Earns Cars.com's 2021 Best Eco-Friendly Car of the Year Award
PR Newswire
CHICAGO , April 22, 2021 /PRNewswire/ -- Leading automotive digital marketplace and solutions provider Cars.com (NYSE: CARS) today revealed new research that Americans' interest in electric vehicles is on the rise. Sixty-six percent of respondents in Cars.com's national survey stated an increased desire to buy an EV after hearing President Biden's infrastructure plans to invest $174 billion in the EV market, including a national network of 500,000 EV charging locations by 2030. 1 However, 81% of respondents report that barriers remain, obstructing the path to purchase. 1
"Interest in EVs is growing, yet remaining barriers indicate mainstream adoption is still about a decade away," said Aaron Bragman , Cars.com's Detroit bureau chief. "Tens of millions of car shoppers are on Cars.com, making us an excellent barometer for the industry. Today, only 1% of total search share on Cars.com is for EVs. 2 However, the growing lineup of electric pickup trucks and SUVs, plus the current administration's support of the EV market, will continue to accelerate much-needed consumer awareness and could lead to a positive shift in buying habits in the near future."
Nearly 20% of Americans report the lack of SUVs in the current EV lineup as a critical factor in the desire to purchase a traditional gasoline vehicle. 1 But excitement is growing with the highly anticipated release of affordable electric SUVs such as the 2021 Volkswagen ID.4 and the Tesla Model Y; that interest is further enhanced by the 2021 Ford Mustang Mach-E all-electric SUV, Cars.com's 2021 Best Eco-Friendly Car of the Year . Since hitting local dealership lots in December, the Mach-E accounts for 34% of total EV search share on Cars.com, the highest among any EV or hybrid vehicle on the site. 2
Bragman added, "In addition to its national availability and range as far as 300 miles, the Mach-E is what American buyers prefer but haven't been able to find in electric form: a small SUV."
Additional trends uncovered by Cars.com's research that impact the EV market include:
- Barriers prevent EV ownership. The primary obstacles preventing consumers from buying electric vehicles are cost (34%), limited range (32%) and a lack of charging stations (32%). 1
- Urban buyers lead the way. Cars.com search data found that urban buyers are three times more likely to buy EVs. 3 Of the 1% of total EV search share on Cars.com, Los Angeles accounts for 9% of searches; followed by Chicago (8%); Washington, D.C. (6%); New York (5%); and Dallas (4%). 2
- Rising fuel prices nudge consideration. If gas prices continue rising, 76% of car owners would assess switching to an EV. Coincidentally, 35% of current EV owners cited gas savings as one of the factors that led to the purchase. 1
- Environmentally friendly, slick tech and sleek style are the tickets to purchase. The main reasons for purchasing an EV are environmental benefits (48%) and the tech features and updated vehicle style (45%). 1
- EV adopters are loyal. For those who have made the switch to an EV, it could be permanent: 86% of EV owners say they would buy an EV for their next car purchase. 1
To learn more about the 2021 Ford Mustang Mach-E and to find more about electric vehicles and reviews on the newest makes and models, visit https://www.cars.com/explore/eco-friendly-cars/ .
2021 Best Eco-Friendly Car of the Year Award Methodology
Any 2021 model-year vehicle available nationwide was eligible for Cars.com's 2021 Best Eco-Friendly Car of the Year award, and all vehicles that reduce consumption and/or minimize the release of carbon pollutants, regardless of fuel type, were considered. The 2021 Best Eco-Friendly Car of the Year winner was chosen from among five eco-friendly categories: battery-electric, plug-in hybrid, gas-electric, clean diesel and regular high-mileage gasoline. Cars.com's Best Of awards program includes six different categories: Best Value of 2021, Family Car of the Year, Luxury Car of the Year, Best Eco-Friendly Car of the Year and the two highest honors, Best Pickup Truck of 2021 and Best of 2021.
1 Cars.com's survey results April 2021 ; 1,056 responses
2 Cars.com internal data
3 Cars.com's survey results Feb. 19, 2021 ; 1,510 respondents
ABOUT CARS.COM
CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago , the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.
In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.
The full suite of CARS brands include Cars.com ™, Dealer Inspire ®, FUEL ™, DealerRater ®, Auto.com ™, PickupTrucks.com ™ and NewCars.com ®. For more information, visit www.Cars.com .
SOURCE Cars.com Inc.