
The Biden administration has set a fuel efficiency standard for new passenger cars of 65 miles per gallon by 2031. This is a significant increase from the current average of 48.7 miles per gallon. The new standards are part of the administration's efforts to reduce carbon pollution, curb climate change, and promote the adoption of electric vehicles.

Based on recent surveys and studies, the main concerns of electric vehicle (EV) owners include charging infrastructure, vehicle range, cost, and reliability5.
Charging Infrastructure: Many EV owners and potential buyers are concerned about the availability and accessibility of charging stations. They worry about the logistics of charging their vehicles, especially during long trips. A Consumer Reports survey found that nearly 5 in 10 drivers said "not enough public charging stations" were holding them back from purchasing an electric vehicle.
Vehicle Range: The distance an EV can travel on a single charge, also known as its range, is another significant concern for potential buyers. Consumers are hesitant to switch to EVs due to the fear of running out of charge during a trip, also known as "range anxiety."
Cost: The upfront cost of purchasing an electric vehicle is higher compared to traditional gasoline-powered cars. Although EVs can save money in the long run due to lower maintenance and fuel costs, the initial investment is a barrier for many consumers. In a Consumer Reports survey, 60% of respondents who said cost-related factors would prevent them from getting an EV identified the purchase price as a significant concern.
Reliability: Consumer Reports' Annual Auto Reliability Surveys have shown that electric vehicles have 79% more problems than internal combustion engine vehicles on average. Issues with EVs include problems with the electric motor, EV/hybrid battery, and EV charging, as well as build quality issues. However, it should be noted that hybrids, which combine a gasoline engine with an electric assist, have shown to be more reliable than both EVs and internal combustion engine vehicles.
Addressing these concerns, such as improving charging infrastructure, increasing vehicle range, reducing costs, and enhancing reliability, could help accelerate the adoption of electric vehicles among consumers.

According to the latest figures from Kelley Blue Book, the average transaction price for a new electric vehicle was $53,376 in August 2023.