After three years of decline, EV consideration is climbing once again. In our latest consumer sentiment research, 37% of new car buyers said they’d consider an EV a seven-point lift since November and the first sign of positive momentum since mid-2022*. 

So what’s driving the shift? Price drops, broader brand choice, and improving confidence are all helping drive the uplift. But demographics matter, too. EV consideration was significantly higher among buyers planning to spend $30k–$60k (42%), and strongest among millennials (44%) and women (47%)*, segments that often shape the early adoption curve. 

However, one other important finding to note is that while interest is rising, shortlists are tightening. On average, buyers are now considering just 3 EV brands, down from 4.5 six months ago*. It’s a clear sign that consumers are becoming more focused, entering the market with a sharper eye and a stronger sense of what they want. For both OEMs and dealers, this highlights that clear messaging, consistent visibility and strong alignment with buyer values are more important than ever.