A study by Deloitte has shown that only 2% – 4% of their responders would buy an electric vehicle (EV). The interesting thing about the study is that the study was conducted to get a sense of potential EV demand around the world through some 13,000 survey respondents.
The major take away from the study was that given the actual consumer expectations of the range, charge time, and price of the vehicles when compared to the currently available market offerings, only 2% – 4% of the population of any country would have their expectations of an EV met. This shows that people want more out of EVs and they cannot currently get it and, thus, they are not buying.
According to Deloitte, the 2% – 4% figure falls in line with other global studies surrounding EV ownership, desire, and expectations. Deloitte also found that the so called “Early Adopters” of EVs cannot be counted on to drive the market. These Early Adopters may say they want the latest and greatest EVs but it turns out that the Early Adopter wants the same range, charge time, and price as Non Early Adopters. This means that when the Early Adopters do not get what they want, they might not actually buy the car. In the end, the study concludes that it is range, price, and charge time that drives the EV market and consumer expectations are not being met at this time.
People are rarely satisfied and change their minds rapidly, even when people get what they want they still expect something greater. The Deloitte study does factor this aspect of human nature in and makes a prediction. The Deloitte study suggests it will be government policy more than any other aspect that will likely determine the adoption rate of EVs over the next decade and beyond. In other words if the governments of nations do not force regulations and/or put in place incentives to push car manufactures and consumers towards EVs people will never get their on their own.
The final conclusion that the Deloitte study found was that as auto makers continue to improve on the internal combustion engine, the emphasis will be on those changes to the traditional automobile build rather than on the changes and improvements in the EV market. This, in effect, will regulate the EV to a niche market and that would not help to raise the interest in the product. With little interest from consumers, 2% – 4% is not much, there is not a lot of incentive for auto makers to address, research, and manufacture EVs capable of overcoming the range, cost, and charge time concerns that consumers globally share.
Andrew Meggison was born in the state of Maine and educated in Massachusetts. Andrew earned a Bachelor’s Degree in Government and International Relations from Clark University and a Master’s Degree in Political Science from Northeastern University. Being an Eagle Scout, Andrew has a passion for all things environmental. In his free time Andrew enjoys writing, exploring the great outdoors, a good film, and a creative cocktail.