Ipsos Global study finds three barriers to consumer adoption of EVs: cost, range, charging sites

Ipsos, the global research and insights organization, says it
has uncovered the thoughts of consumers regarding BEVs. These new
findings are released
in the second module of the Ipsos Global Mobility Navigator
Syndicated Study, in which 20,000 consumers worldwide shared their
opinions on alternative engines and what it would take to get them
to consider one.

Ipsos says that this module helps to provide insight into why
environmental concerns are not necessarily translating into BEV
sales.

Todd Markusic, Vice President of Mobility at Ipsos, said the
Ipsos Global Mobility Navigator Syndicated Study discovered there
are three main barriers towards BEV ownership for consumers:
overall cost, range and charging location stations.

The primary barrier is price, regardless of the type of vehicle
in question, it is the most important factor when drivers are
purchasing/leasing a new vehicle. This poses a huge hurdle for BEV
manufacturers since the cost of batteries remains high and are then
rolled into the asking price. Our study revealed consumers are only
willing to pay up to an extra 10% more for a BEV over a similar
gas/diesel version of the vehicle. However, we see once that price
point exceeds 20%, consideration in the BEV option drops
considerably.

—Todd Markusic

For the BEV industry to clear these hurdles, Markusic said
exposure is critical.

More key findings from Ipsos’ Global Mobility Navigator
Syndicated Study:

  • ‘Type of Engine’ is not a primary purchase attribute which
    opens the door to consideration of an electric motor.

  • Consideration of alternative engines has risen nearly every year
    since 2011—the more recent the purchase, the higher the
    likelihood an alternative engine was considered.

  • Among those seriously considering a BEV, 37% believe the
    external design should be different than the gas version of the
    vehicle.

  • The average new car buyer believes it will be a minimum of 4.6
    years before there is a BEV available that meets their budget and
    vehicle needs.

Ipsos is now the third-largest market research company in the
world, present in 90 markets and employing more than 18,000
people.

Source: FS – Transport 2
Ipsos Global study finds three barriers to consumer adoption of EVs: cost, range, charging sites



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