SURGING GAS PRICES DRIVE SHOPPING FOR ELECTRIFIED VEHICLES
Gas prices continue to hit new all-time highs, reaching a national average of $4.92 per gallon on June 6, according to the American Automobile Association, and driving more vehicle shoppers to consider EVs, hybrids, and smaller, more fuel-efficient gas-powered models.
According to a recent Cox Automotive analysis of shopping behavior on its Kelley Blue Book and Autotrader websites:
- Shopping for EVs soared 73% since January before gas prices started their rise.
- Shopping for hybrids rose 25% over the same timeframe.
- Shopping for more fuel-efficient gas-powered models, like small and midsize cars, rose 33% during that period.
Find out more about how May sales reports issued by some automakers are reflecting the popularity of electrified vehicles.
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