Edmunds trade-in data showed a 5% jump in people trading gas cars for new and used EVs for the first 4 months of 2026. The rise has happened as gas prices have climbed 40% since April 2025, according to AAA. Also, an increasing number of EV owners shopping for a new car are going right back for another EV. But it is primarily affecting customers already in the market for a new car. High car prices and interest rates are still keeping many shoppers away from dealer lots, even if gas prices are high. That could change if fuel costs stay elevated or rise further.
Produced by: Robert Ferris
Edited by: Ryan Baker
Camera: Natalie Rice
Animation: Jason Reginato
Senior Director Video: Lindsey Jacobson
Additional Footage: Getty Images
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Are Surging Fuel Prices Pushing Up EV Sales? Experts Say It's Not That Simple
Produced by: Robert Ferris
Edited by: Ryan Baker
Camera: Natalie Rice
Animation: Jason Reginato
Senior Director Video: Lindsey Jacobson
Additional Footage: Getty Images
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About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
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Are Surging Fuel Prices Pushing Up EV Sales? Experts Say It's Not That Simple