There are many prospective buyers of electric vehicles in the United States. However, they are apparently discouraged by the prohibitive price tags, Reuters reported citing a Deloitte survey.
Survey Findings
Consulting firm Deloitte conducted the 2023 Global Automotive Consumer Study between September and October 2022.
Intent to buy EVs
The study revealed that prospective US EV buyers increased by 3% year-over-year. Notably, plug-in and hybrid electric vehicles have similar growth rates based on the findings.
“Although historically high transaction prices are a significant challenge for consumers, a strong desire to reduce refueling costs is driving EV purchase intent around the world.”
Karen Bowman, Deloitte LLP Vice Chair and US automotive leader
However, over half of poll respondents cite a lack of affordability as their top concern in purchasing an EV, as major EV manufacturers raise prices amid high inflation.
Roughly 7 out of 10 potential US customers anticipate paying less than $50,000 for their next car.
The survey also found that consumers worldwide prefer to pay for connected technologies in advance as part of the vehicle’s purchase price rather than through a subscription service.
Intent to buy ICE vehicles
Purchasing gasoline-powered cars are now less popular among consumers. The intent to purchase an internal combustion engine decreased from 68% in 2021 to 62% in 2022.
Trust issues
The report also revealed that 30% of American consumers do not trust anyone with the data from their vehicles.
The US government must continue strategizing ways to lower EV pricing to persuade these potential buyers to adopt green mobility. Essentially, it will aid the nation’s effort to achieve net-zero emissions.
