Summary
- More than 500,000 Australians want to buy an EV in the next 12 months
- 74% of potential EV buyers are motivated by concerns for the environment
- Tesla models dominate the top choices for potential EV buyers
- Ad spend in the EV sector increased by 711% from FY 2021 to FY 2024
- Younger Australians, particularly those aged 18-24, show the most interest in EVs
Article
Nielsen’s latest data reveals a growing interest in electric vehicles (EVs) among Australian consumers, with over half a million Australians considering purchasing an EV in the next 12 months. Sustainability and environmental concerns are major drivers for EV purchase intention, with 74% of potential EV buyers citing concern for the environment and their communities as key motivators. Data also shows that consumers are increasingly open to new technology, with 72% of likely EV purchasers showing a strong interest in hybrid or electric vehicles.
Fuel costs continue to impact consumer decision-making, with 75% of potential EV buyers indicating that fuel prices will influence the type of car they purchase. Additionally, consumers are becoming less concerned about the performance of EV vehicles compared to petrol and diesel models, with 69% believing that EVs offer robust performance. Prioritizing vehicle quality over brand, 57% of potential buyers place more importance on performance and value than name recognition.
Tesla leads the charge in the Australian EV market, with four of its models ranking among the top five choices for potential buyers. SUVs are overwhelmingly the most popular choice for potential EV buyers, with 78% considering this type of vehicle. The data also shows a significant increase in ad spend in the EV sector, jumping from $8.2 million in FY 2021 to $66.5 million in FY 2024, an increase of 711%.
Nielsen data reveals a broad age distribution among potential EV buyers, with younger Australians aged 18-24 showing the most interest. Glenn Channell, Nielsen’s Pacific Head of Advanced Analytics, highlights the undeniable shift towards more sustainable options, with environmental concerns and rising fuel costs playing a pivotal role in the decision-making process for potential EV buyers. As myths around EV performance fade and consumers prioritize vehicle quality, the Australian automotive market is on the brink of an electric revolution.
In conclusion, Nielsen’s data illustrates the significant interest in electric vehicles among Australian consumers, with a growing number actively considering purchasing an EV in the near future. As environmental concerns and rising fuel costs become key motivators, consumers are increasingly open to the new technology and prioritize vehicle quality in their decision-making process. With Tesla leading the Australian EV market and SUVs being the preferred choice among potential buyers, the automotive landscape in Australia is poised for a significant transformation towards more sustainable options.
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