Electrified vehicle sales have increased in recent years but the market still faces challenges such as steep pricing and lack of consumer familiarity with products, a new survey says.

Boulder, Colo., consulting firm Navigant Research's Electric Vehicle Survey found that prices higher than $25,000 are turnoffs for many consumers.

Of the 1,084 consumers responding to the survey, 71 percent plan to spend less than $25,000 on their next vehicle purchase, while 43 percent won't cross the $20,000 threshold -- taking them out of the market for most of the latest EVs and plug-in hybrids.


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Over 70% Of Buyers Think $25,000 Is Too Much For An EV

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