The EV market is changing
There’s been a tonal shift when it comes to EVs. It’s not an assertion, either. Ford has shifted its focus toward hybrids, as have several other automakers. Where we once thought electrification would dominate automakers’ lineups, we’re now seeing a regression to meet consumer demand.
The expiration of federal tax credits dramatically dented EV sales and is something automakers point to as a reason they’re no longer as bullish on EVs. Now, a new study underscores that auto brands likely saw this curve in the road before any of us. Where car buyers once planned to switch to an EV, there’s now a massive dearth in interest.
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Where EVs stand in 2026
A new study from CDK Global on consumer sentiment shows interest in EVs among gas-powered vehicle drivers has dropped 20%. When asked if they planned to purchase an EV in the future, only 11% of respondents who drive ICE autos said they do, down from 31% in 2024’s survey. Similarly, in 2024, 54% of hybrid drivers said they were planning to switch to EVs; in 2025, that group’s interest in switching to a fully electrified car stands at 35%, down 19% year over year.
Interestingly, plug-in hybrid drivers are still quite interested in a fully electric vehicle. 54% of respondents who currently drive PHEVs said they would switch to an EV in the future, down only 4% from last year’s survey (58%). Speculatively, this suggests that a PHEV is a bit of a toe-dip into electrification for many and helps better frame the benefits of full electrification than vehicles that rely on gasoline.
Almost half of existing EV drivers (47%) say they plan to purchase an EV in the next three years, while 42% say they will buy another EV within 5 years. This figure suggests EV owners understand that electrification is evolving quickly. It also shows that federal tax incentives worked, and existing EV drivers don’t seem put off by the higher cost of a fully electrified vehicle.
EV sales are in trouble
While 89% of EV drivers plan to buy another EV within five years, that number drops to 80% among hybrid drivers and 63% among ICE drivers. After five years, all statistics dip dramatically. In seven years, only 14% of ICE drivers think they’ll purchase an EV, rising to 23% by the 10-year mark. For ICE drivers, it seems that if the auto industry doesn’t give them a compelling reason to purchase an EV soon, those drivers are willing to wait a decade before going electric.
EV and hybrid drivers trail off dramatically, too, but their numbers never rebound. It’s worth noting that EVs make up less than 10% of the overall auto market, so such a significant swing in buyer intent may make automakers shy away from EVs even further. Interestingly, 19% fewer ICE drivers say they have friends or family who drive EVs now. Hybrid drivers and PHEV drivers also say fewer people they know drive EVs, but slightly more EV drivers say more of their friends and family have gone electric.
Final thoughts
Gas-powered cars dominate the auto market. ICE drivers switching to EVs is critical for the success of electrification, but sadly for EV enthusiasts, interest is waning dramatically. This study also concludes that far fewer ICE drivers are shopping for EVs, and they no longer care what friends or family have to say about fully electrified cars, either. Perhaps most damning is that when asked why they planned to purchase a gas or hybrid vehicle over an EV, 10% more respondents (compared to 2024’s survey) report EVs “don’t suit my lifestyle.” The EV market is evolving dramatically, but it may not have developed quickly enough to sway the most critical demographic.
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