Consumers Expect More from Electric Cars Than Most Deliver

Consumer research and accountancy firm Deloitte has just completed a study of consumers’ opinions towards electric cars. It found that consumers worldwide find that electric cars do not have the range to fit their needs, take too long to charge and are too expensive. Deloitte's survey looked at pure electric vehicles and did not evaluate either form of hybrid available today. 

The study surveyed 13,000 people in 17 countries in the Americas, Asia and Europe.

In the United States roughly half of respondents said that they would either be a "first mover" in regards to buying an EV or "might be willing to consider" buying an EV. However, worldwide including in the US 85% of respondents said that range, charging time and price were "very important" factors in buying a car. 

The paradox here is that current technology targeted at the mass market can usually accomplish a range of 100 miles between charges, which is twice as far as the typical American drives each work day. Yet, for some reason, the 100-miles-a-day capability is still unacceptable to most consumers; they want at least 300 miles between charges,” said Craig Giffi, automotive practice leader at Deliotte. 

Americans are also pushing the desire for lower charging time. Charging time under two hours was desired by 58% of American respondents and 23% wanted a 30-minute or less charging time. While the average EV takes 8 hours to charge this was seen as acceptable by a minority of buyers. 

Worldwide, 50% of consumers are willing to pay more for an electric vehicle than they would for a gasoline or diesel vehicle, but that figure was 35% for Americans. Regionally, Chinese buyers are most willing to pay more with 44% saying that they would. In the UK and Belgium 29% of respondents said that they would be willing to pay extra for EVs. 

It appears that the cost of buying EVs has not been understood in many regions. In 11 of 17 countries half or more of respondents felt that EVs should cost $20,000 or less. The US appears to have a better understanding as 78% said that EVs should cost $30,000 or less. 

One problem facing EV adoption is the improving fuel economy of internal combustion engines. If vehicles reach 50mpg, 57% of people in China and 68% in the US said that they would be significantly less likely to buy an EV. 

“For the time being, the mass adoption of electric vehicles is more likely to occur in countries that are willing and able to take an aggressive policy approach that encourages and subsidizes the market. And in today’s world, with so many sovereign debt challenges, that is very likely to be a road less traveled," said Giffi.

Source: Deloitte