Data continues to mount, suggesting that EV consideration is ticking up as gas prices rise, presenting a unique sales opportunity for dealerships ready to address the factors most likely to stall a deal, according to CarMax.
The details: The used-car retailer found that between March 2 and March 22, searches for electric vehicles and hybrids increased by 12.8% compared with February 1 to March 1, and identified where shoppers tend to pause when considering an EV.
Buyers can struggle to understand the different types of electrified vehicles, including hybrids (HEVs), plug-in hybrids (PHEVs), and fully electric vehicles (EVs), each of which comes with its own benefits.
Range and charging access remain top of mind for buyers, especially commuters or drivers without consistent access to public charging infrastructure.
Higher upfront prices for EVs and PHEVs also affect consideration, even though the vehicles often come with lower maintenance costs and fuel savings that improve total cost of ownership.
What they’re saying: “As gas prices rise, they can serve as a starting point for consideration, but whether shoppers move beyond initial interest depends largely on how confident they feel about what EV ownership looks like in practice,” said Wes Dunn, Senior Vice President, Retail for CarMax, per a press statement. “Consumers are weighing practical questions around range, charging access, battery durability, and overall cost of ownership as they assess whether an electrified vehicle fits their needs and lifestyle.”
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Why it matters: Any rise in interest in EVs and hybrids is only half the opportunity, with the bigger advantage going to retailers that can clearly explain ownership, charging, financing, and long-term savings in ways that reduce confusion and keep hesitant shoppers from walking away.
Between the lines: In addition to addressing the typical consideration factors, a dealer’s ability to identify available financing options and other conveniences that ease a buyer’s transition to an electric vehicle can help close the deal, as CarMax highlighted.
In addition to traditional auto loans, some buyers may qualify for EV-specific or “green” auto loans, which can offer competitive interest rates or longer repayment terms.
Although costs vary, highlighting the convenience of installing a home charger (and whether a buyer may need an electrical panel upgrade or dedicated circuit) can help ease the transition.
Bottom line: As we’ve covered, concerns about gas prices will likely drive more shoppers to research electric vehicle options, but whether those turn into a jump in sales remains to be seen.
In the meantime, dealers who treat EV education as part of the sales process are better equipped to turn growing shopper curiosity into completed purchases.
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1 Cars Commerce Internal Data, FY 2025, 2 SimilarWeb Audience Overlap, Q1 - Q3 2025, 3 DI website GA4 data, Q2 2025
