Summary
- AutoPacific found that 50% of three-row crossover and SUV buyers would consider buying an EV
- 8% of three-row crossover buyers intend to purchase a full EV
- The three-row crossover segment is predicted to grow to nearly 400,000 units sold per year by 2029
- AutoPacific study shows a demand for cheaper EV three-row crossovers
- Ideal three-row EV SUV buyer described as a single female driving less than 30 miles a day, living in a single-family house, aware of the need for home EV charging, and valuing environmentally-friendly cars with modern tech features.
Article
Growing Interest in Three-Row EV Crossovers
AutoPacific recently conducted a study that revealed a surprising trend among three-row crossover and SUV buyers – nearly half of them would consider purchasing an electric vehicle (EV). This is a significant finding, especially considering that only a limited number of three-row EV options are currently available on the market. The study showed that 8% of the surveyed buyers expressed a strong intention to buy a full EV in the three-row crossover segment.
Strong Potential for Growth in the Segment
The survey results point to a growing demand for three-row EV crossovers, particularly among buyers looking for more affordable options. AutoPacific found that 59% of three-row crossover and SUV buyers are looking to spend less than $50,000 on their vehicle. With only a few models in this price range currently available, there is a clear opportunity for manufacturers to tap into this market and offer more budget-friendly three-row EV options.
Predicted Growth in the EV Segment
AutoPacific’s predictions for the three-row EV segment are optimistic, forecasting a significant increase in sales from 100,000 units in 2024 to nearly 400,000 units by 2029. This growth indicates that all-electric three-row SUVs and crossovers are poised to become one of the most important segments in the EV market. With the increasing interest from consumers and the potential for more affordable options, manufacturers have a unique opportunity to capitalize on this trend.
Ideal Buyer Profile for Three-Row EV SUVs
According to the study, the ideal buyer of a three-row EV SUV is a single female who lives in a single-family house and drives less than 30 miles a day. This demographic values the convenience of a three-row vehicle, appreciates the tech gadgets found in modern EVs, and prioritizes environmental friendliness. However, they are not willing to compromise on features or convenience when it comes to their vehicle preferences.
Manufacturer Response to the Growing Demand
With the growing interest in three-row EV crossovers, manufacturers need to pay attention to consumer preferences and offer more options that cater to this segment. The study highlights the need for affordable three-row EV models that meet the requirements of potential buyers. As the EV market continues to evolve, manufacturers have the opportunity to innovate and introduce new models that align with consumer demand in the three-row crossover segment.
Conclusion
The findings from AutoPacific’s study underscore the increasing interest in three-row EV crossovers among consumers. With a significant number of buyers open to the idea of purchasing an EV in this segment, manufacturers have the chance to capitalize on the growing demand and offer more affordable options. As the three-row EV market continues to expand, it will be crucial for manufacturers to understand the preferences of potential buyers and develop models that meet their needs. By focusing on affordability, convenience, and eco-friendly features, manufacturers can position themselves for success in this rapidly evolving segment of the EV market.
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