Summary
- Only 5% of Americans want a BEV as their next vehicle, with 6% preferring a plugin hybrid
- Intent to buy a hybrid vehicle in the US is up 5 percentage points from the previous year
- Concerns about public EV charging may be exaggerated, as 79% of US EV intenders plan to charge their vehicle at home
- More than 40% of US consumers aged 18-34 are willing to give up vehicle ownership in favor of a MaaS solution
- Lowering fuel costs is the top reason for US consumers to purchase an EV, followed by environmental considerations and driving experience.
Article
The latest research from Deloitte reveals that in the US, only 5% of Americans are interested in purchasing a battery electric vehicle (BEV) as their next vehicle, while 6% are interested in a plugin hybrid. This is significantly lower than the 27% and 17% of Chinese consumers who are interested in BEVs and plugin hybrids, respectively. Intent to buy a hybrid vehicle, either conventional or plugin, has increased by 5 percentage points compared to the previous year, as consumers seek a solution that offers the best of both worlds in terms of fuel costs. However, intent to buy an EV has decreased by 1 percentage point.
Despite concerns about public EV charging infrastructure, the majority of US EV intenders surveyed plan to charge their vehicles at home, with only 21% expressing the need for public charging stations. The study also found that 52% of respondents are concerned about fully autonomous robotaxis operating in their vicinity, while more than 40% of American adults under the age of 35 are willing to give up vehicle ownership in favor of a fully available mobility-as-a-service (MaaS) solution.
Brand loyalty in the US automotive market is weaker than expected, with 54% of respondents planning to switch auto brands for their next vehicle purchase. This presents both a challenge and an opportunity for automakers in terms of capturing new customers through conquest sales. In contrast, brand loyalty is stronger in China and India, where 76% and 72% of consumers, respectively, plan to buy a different brand with their next vehicle purchase.
When it comes to EVs, lowering fuel costs remains the top reason for US consumers to consider purchasing an EV, followed by environmental considerations and driving experience. However, concerns about battery driving range, charging time, and the cost premium associated with BEVs are still significant barriers to adoption. The survey also highlighted the need for investment in EV charging infrastructure, especially for those who do not have access to a dedicated charger at home.
US consumers are willing to wait up to 40 minutes to charge their EVs to 80%, with a preference for dedicated EV charging stations over traditional gas stations with EV chargers. The study suggests that more focus is needed on making it easy and affordable for people to install home chargers, as well as increasing the availability of public charging stations for those who cannot charge at home. Overall, the findings point to a complex landscape of consumer preferences, concerns, and opportunities in the rapidly evolving automotive industry.
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