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E-Vision Intelligence Report March 2023 EV Price Pressure Grows as Government Incentives and Lease Deals Wield Outsized Influence on Consumer Demand Key Findings Improved Affordability and Availability Drive EV Adoption to All-Time High: As of February, EVs account for 8.5% of the total new-vehicle purchase and lease market, a record high, driven largely by significant improvement in affordability and availability. Government Incentives and Price Cuts Put Spotlight on Consumer Price Sensitivity: Consumer interest in EVs is increasingly being heavily swayed by price, with a clear correlation emerging between consumer demand and government incentives, lease deals and manufacturer price cuts.

United statesNew yorkNew jerseyKristen richterBrent gruberStewart stroppElizabeth krearPressure growsGovernment incentivesLease deals wield outsized influenceAvailability driveAll time highPrice cuts put spotlightConsumer price sensitivityInflation reduction actChevrolet bolt