the ev equation changes fast when trump hits your walletRising fuel prices are pushing more American shoppers to take a second look at electric vehicles, even as raw EV sales growth has cooled.According to the 2026 U.S. Electric Vehicle Consideration Study from JD Power, 26 percent of new-vehicle shoppers in April said they were "very likely" to consider buying an EV. That's up three percentage points from March and marks the strongest month-to-month jump the study has seen this year.At the same time, the number of shoppers saying they were "very unlikely" to consider an EV dropped from 22 percent to 18 percent.the ev equation changes fast when trump hits your walletCharging Anxiety Is DisappearingGas prices climbed sharply through the spring following instability in the Middle East, and consumers appear to be recalculating operating costs again. We've seen this pattern before. Every time fuel prices spike, interest in electrified vehicles rises almost immediately, whether buyers ultimately pull the trigger or not.AdvertisementAdvertisementStill, the study paints a more nuanced picture than simple "EV demand is surging" headlines suggest.While overall EV consideration improved slightly year-over-year, purchase price is becoming a larger sticking point for shoppers, especially after the expiration of federal EV tax credits last fall. JD Power found that charging availability remains the biggest reason buyers reject EVs, cited by 46 percent of respondents, but cost concerns are climbing back toward the top of the list.In April specifically, purchase price became the second most common reason shoppers rejected EVs, overtaking some long-standing concerns about charging infrastructure and range.the ev equation changes fast when trump hits your walletThe EV Affordability ProblemThat tracks with what's happening across the market right now. Interest in EVs remains fairly healthy, but affordability is becoming the real problem. Many mainstream buyers simply aren't willing to absorb higher monthly payments, especially as vehicle prices in general remain stubbornly elevated.AdvertisementAdvertisementJD Power executive director Brent Gruber said the data shows long-term progress in some traditional EV concerns, including range anxiety and charging access, but pricing pressure continues reshaping consumer behavior.The study also found that shoppers who remain firmly anti-EV are setting extremely high conditions before they'd even consider switching. Nearly three-quarters of respondents classified as "very unlikely" EV buyers said they would require at least 500 miles of range before reconsidering. More than half said they would not pay any premium whatsoever for an EV over a comparable gas-powered vehicle.the ev equation changes fast when trump hits your walletHouses vs BuildingsThere's also still a major divide between homeowners and apartment dwellers.Consumers who can reliably charge at home continue showing far higher EV interest than those living in apartments, condos, or townhomes. Only 18 percent of apartment residents said they were "very likely" to consider an EV, a number that actually declined year-over-year despite broader market improvements.AdvertisementAdvertisementFrankly, that remains one of the biggest structural problems facing EV adoption in North America. Home charging changes the ownership experience entirely. Without it, many EVs become far less convenient than traditional hybrids or gasoline vehicles.the ev equation changes fast when trump hits your walletGenerational Divide Among EV ShoppersGenerational differences are becoming more apparent too. Gen Z and Millennial shoppers remain the most price-sensitive groups in the study, while older buyers are more focused on practical concerns like charging times and infrastructure availability.Meanwhile, hybrids continue quietly benefiting from this uncertainty. Many buyers still want better fuel economy, especially when gas prices spike, but aren't ready to fully commit to battery-electric ownership. That middle ground increasingly looks attractive, particularly in regions where public charging infrastructure still feels patchy or inconvenient.The JD Power study surveyed more than 8,100 consumers planning to buy or lease a new vehicle within the next 12 months and was conducted between January and April 2026.AdvertisementAdvertisementBecome an AutoGuide insider. Get the latest from the automotive world first by subscribing to our newsletter here.