4 Consumer Takeaways on EVs
By Samantha Oller on Apr. 21, 2017HEATHROW, Fla. -- Consumers are as enthusiastic as ever for electric vehicles (EVs), despite low gasoline prices, according to a new report.
A recent AAA consumer survey found that the percentage of consumers interested in purchasing an EV for their next vehicle is close to the number of those considering a pickup truck. While EVs make up about only 1% of the U.S. vehicle fleet and sales of pickups are surging, the survey results suggest that the dynamics of the automobile market could be shifting.
“With their lower ownership costs and compatibility with emerging autonomous technologies, electric vehicles are poised to be a key vehicle of the future,” said Greg Brannon, director of automotive engineering for AAA, Heathrow, Fla.
Here are four interesting takeaways on consumers’ attitudes about EVs ...
1. EV and hybrid interest
Fifteen percent of consumers said they were likely to buy an EV the next time they are ready to purchase a new or used vehicle. This is the same percentage as in 2012, when gasoline prices averaged $3.60 per gallon, a record at the time and 40% higher than the average today.
Millennials (18%) were more likely to be interested in an EV than baby boomers (10%). The main motivations of consumers who would buy an EV:
- Concern for the environment (87%)
- Lower long-term costs (62%)
- EVs’ cutting-edge technology (52%)
Meanwhile, 32% of consumers said they are likely to buy a hybrid; this is also unchanged from the 2012 survey. Millennials (40%) and Generation X (32%) are more likely than baby boomers (22%) to consider hybrids.
2. Range anxiety
For those consumers who said they were unlikely or undecided on purchasing an EV, the biggest concerns were mainly tied to range anxiety, or the fear of running out of charge with no place nearby to charge up. They include:
- Not enough charging stations (69%)
- Running out of charge (68%)
- Higher purchase prices (57%)
- Battery repair/replacement costs (55%)
Baby boomers (72%) were 10 points more likely than millennials (62%) to be worried about running out of a charge.
“Range anxiety stems from seeing gas stations, not charging stations, on every corner,” said Brannon of AAA, pointing out that this fear is not necessarily rooted in reality. “While electric vehicles may not yet fit every lifestyle, the number of charging stations has quadrupled over the last five years, and battery ranges support average commutes.”
3. Commuting needs
Consumers’ average daily work commute is 46 miles round-trip, with an average drive time of 31 minutes, according to the survey. This falls within the range of most EVs, AAA said.
Meanwhile, 78% of consumers said their commute was an hour or less, while only 22% had commutes longer than that. More than two-thirds had commutes under 30 miles round-trip, with another 17% having commutes of 31 to 60 miles, and 17% having commutes greater than 60 miles.
4. Next vehicle plans
When buying or leasing their next vehicle, most consumers—43%—said they were planning to pick a car, followed by an SUV (26%), pickup truck (16%), minivan (5%) or motorcycle (1%). Millennials (51%) were more likely than Generation X (38%) and baby boomer (34%) consumers to say they would pick a car.
Women were 12 points more likely than men to prefer an SUV (32% vs. 20%), while men were 13 points more likely to prefer a pickup (23% vs. 10%).
Reliability was overwhelmingly the most important factor consumers cited in their next vehicle choice, followed by cost (71%), crash rating (70%), fuel economy (70%) and performance (69%).
Advanced safety technology was important to 50% of consumers, followed by brand (48%); style, color or design (46%); and the ability to connect a smartphone (34%).
AAA conducted the EV consumer attitude survey Feb. 16-19, 2017, with 1,004 adults 18 and older who live in the continental United States. For full results, as well as AAA’s rankings of the top EVs and hybrids, click here.