Majority of Consumers Are Unlikely to Buy an Electric Vehicle - Latest Global News

Majority of Consumers Are Unlikely to Buy an Electric Vehicle

  • A new study suggests that consumers have turned their backs on electric vehicles.
  • A large majority (63%) said they were “unlikely or very unlikely” to buy an electric vehicle.
  • While consumers’ aversion to electric vehicles appears to have diminished, they are more open to hybrid vehicles.

The electric revolution continues to face obstacles, and a new survey casts a grim light on the situation. Specifically, only 18% of respondents said they would be “very likely” or “likely” to purchase a new or used electric vehicle.

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The study was conducted by AAA and finds that this is a 5% decline from last year. Worse still, the organization found that 63% of respondents said it was “unlikely or very unlikely” that they would buy an electric vehicle as their next vehicle.

More: Most Americans are not convinced about electric vehicles, blame charging problems, range and high costs

The latter figure should scare automakers, as it has increased by 10% in a year. In addition, the number of undecideds – the so-called “neither likely nor unlikely” – fell from 24% in 2023 to 19% this year. All of this suggests that consumers have made up their minds about electric vehicles, and the answer is a resounding no.

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Why are consumers hesitant about electric vehicles? The answers are the usual suspects, including cost, range anxiety and lack of charging infrastructure. AAA also found that 30% of people “reported that it was not possible to install a charging station in their home,” a common problem for apartment dwellers.

    Majority of consumers are unlikely to buy an electric vehicle

Greg Brannon, director of automotive research at AAA, said: “Early adopters who wanted an electric vehicle already have one. The remaining group of people who have not yet purchased an electric vehicle are thinking about convenience, cost, convenience and driving experience, and for some these are big enough hurdles to keep them from making the switch to all-electric vehicles.”

While consumers are unconvinced about electric vehicles, they are more open to hybrids, with 31% of respondents saying they would be “very likely” or “probably” to buy a hybrid.

Automakers seem to have noticed the change, as many of them are now promoting hybrid and plug-in hybrid vehicles. For some companies, this is a big change, as they considered these vehicles a relic of the past.

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    Majority of consumers are unlikely to buy an electric vehicle

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