America Plugs In: CarMax Data Shows Surge in EV Consideration

The data reveals a notable increase in EV searches during the period of February to March 2022, potentially correlating with spikes in gasoline prices, suggesting cost of fuel may influence EV interest.

The demand for electric vehicles is well-reflected in the models that have topped sales charts at CarMax from September 2023 to February 2024. Here are the most popular models with their average prices:

• Tesla Model 3: $34,045
• Tesla Model Y: $43,896
• Nissan LEAF: $18,465
• Volkswagen ID.4: $31,576
• Ford Mustang Mach-E: $38,713
• Audi e-tron: $41,205
• Chevrolet Bolt EUV: $26,776
• Chevrolet Bolt EV: $22,564
• Tesla Model S: $45,574
• Hyundai Ioniq 5: $37,036

Average Pricing and Geographic Sales Trends

The average prices of these favored models highlight a shift in the EV market, with prices now ranging from $22,000 to $45,000. This adjustment signifies a considerable decrease from the previous year's high of $72,000, indicating a trend toward more accessible electric vehicle options for consumers.

CarMax's sales data provides insight into which states are leading the charge in EV purchases. Between September 2023 and February 2024, the top states for EV sales at CarMax are:

1. California
2. Oregon
3. Washington
4. Nevada
5. Idaho
6. Arizona
7. Massachusetts
8. New York
9. Utah
10. Maryland



Consumer Attitudes Toward EVs

The increasing inclination towards electric vehicles aligns with public sentiment captured in a 2023 Pew Research study, where a notable proportion of Americans expressed consideration of an EV for their next vehicle purchase. CarMax's sales data is in concordance with these findings, reflecting a national uptick in EV sales and a shift in consumer preferences.

CarMax's comprehensive data underscores the growing interest in electric vehicles, evidenced by the diversity in popular models and more favorable pricing. With regional sales expanding beyond the West Coast to the East, and public attitudes increasingly favoring electric options, the landscape of electric vehicle consumption is clearly evolving.

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This article was co-written using AI and was then heavily edited and optimized by our editorial team.