At a global tipping point, 52% of car buyers now want to purchase an EV – here’s why

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According to the most recent findings of the EY Mobility Consumer Index at a global tipping point, 52% of car buyers now want to purchase an EV – here’s why the percentage of customers interested in purchasing electric vehicles has reached 52 percent (MCI). This is the first time that the proportion has been higher than fifty percent, and it indicates an increase of twenty-two percentage points in only two years’ time.

EV buyers are on the rise

Since the beginning of the epidemic in 2020, the MCI poll has been monitoring consumer mobility patterns and their intentions to make purchases. According to EY, although overall levels of travel reported remain lower when compared to the pre-pandemic benchmark, the number of consumers who say constant access to a personal car is very important to them is rising. Furthermore, for the first time, more than half of those surveyed who intend to buy a car say they intend to choose either a fully electric, plug-in hybrid, or hybrid vehicle. This is a first.

Car purchasers in Italy (73 percent), China (69 percent), and South Korea (63 percent) are the most devoted to purchasing an electric vehicle, according to a survey that included 13,000 respondents from 18 nations. Consumers in the United States (29 percent) and Australia (38 percent) have the least amount of commitment.

Respondents identify environmental issues as the primary reason for their decision to purchase an electric vehicle (38 percent) while increasing fines for gas vehicles appeared for the first time as a critical concern (34 percent ). The invasion of Ukraine by Russia and subsequent interruption of supply chains are having an effect on the latter issue.

In line with the findings of the MCI 2021 poll, the findings of this survey indicate that 88 percent of customers are willing to pay a higher price for an electric vehicle (EV), and 35 percent of consumers are willing to pay a premium of 20 percent or more.

Range anxiety is dropping

The results of the poll conducted by MCI also suggest that owners of electric vehicles are less concerned about range anxiety and EV charges. The fact that electric vehicles (EVs) now have greater ranges is the most important factor influencing second-time buyers of EVs. Only 27 percent of EV owners were concerned about the availability of charging infrastructure, in contrast to the 36 percent of people who do not currently own an EV.

According to Randy Miller, who is the global leader for advanced manufacturing and mobility at EY, concerns about the range of electric vehicles and the availability of charging stations will soon be a thing of the past. We are aware that the vast majority of trips are of a moderate length, and as the charging infrastructure continues to expand and the quality of batteries continues to improve, we will begin to notice that these issues are beginning to diminish. It is also abundantly evident that folks who possess electric vehicles are already aware of this.