Carvana Reports 226% Year-over-year Growth in How Customers Search for EVs

On October 22, 2024, Carvana, a leader in the online buying and selling of used cars, released its EV Trends Report for Q3 2024. This report highlights significant consumer search behavior trends, revealing a growing interest in electric vehicles (EVs) and shifting preferences among shoppers.

The EV Trends Report for Q3 2024 from Carvana reveals several key findings regarding consumer behavior in the electric vehicle market. Notably, the share of make-model searches for EVs on Carvana.com has increased in every quarter of 2024. Additionally, the share of vehicle page views dedicated to EVs surged by 226% year-over-year in Q3 2024.

The report also notes that EV shoppers demonstrate a strong preference for luxury features, such as heated steering wheels, alongside technology-forward amenities like adaptive cruise control and Apple CarPlay. Furthermore, the typical search filters employed by both EV and internal combustion engine (ICE) customers indicate that EV shoppers tend to favor lower mileage and newer model years, showing a willingness to explore higher price ranges to meet these preferences.

The EV Trends Report for Q3 2024 from Carvana highlights the top searched electric vehicle makes and their most popular models. Leading the list is Tesla with the Model 3, followed by Ford with the Mustang MACH-E. Hyundai’s IONIQ 5 and Kia’s EV6 also ranked highly among consumer searches, along with the Nissan LEAF.

“At Carvana, we cater to a wide range of customers with varied preferences, including those who enjoy cross-shopping different fuel types,” said Ernie Garcia, Carvana founder and CEO. “We are committed to providing what our customers are looking for by making strategic investments that enable them to understand and confidently purchase EVs as simply and seamlessly as they would any other vehicle from us.”

Carvana features a wide variety of used EVs available for sale. The company is known for its glass tower “car vending machines.” With Carvana, you can shop for a diverse selection of affordable vehicles entirely online from the comfort of your home. There are no hidden fees, ensuring you find the right car at the right price. Once you’ve made your selection, you have the flexibility to choose how and when you receive your vehicle—either by having it delivered directly to your driveway or picking it up from one of Carvana’s unique Car Vending Machines.

Every Carvana car comes standard with a limited 100 day/4,189 mile warranty. At Carvana, every vehicle in their inventory, along with those from their partners, undergoes thorough inspection and reconditioning by certified technicians. Customers can rest assured that these cars have no reported fire, frame, or flood damage, as confirmed by CARFAX and AutoCheck. To ensure customers make the right choice, every Carvana car comes with a 7-day return policy. Buyers can take their vehicle for a spin and see if it fits seamlessly into their lives. If they find it isn’t the perfect match after those 7 days, returning it is simple and hassle-free.