EY research: 52% of consumers worldwide want to buy an electric vehicle

Global electrification has reached a tipping point, as according to the latest edition of EY’s global research, Mobility Consumer Index, 52% of consumers looking to buy a new car want an electric vehicle. This is the first time the survey has recorded a rate above 50% in this metric, which translates to an increase of 22 points in just two years.

The survey, conducted among a sample of 13,000 consumers in 18 countries, shows that car buyers in Europe (e.g. Italy – 73%) and Asia (e.g. China – 69%, South Korea – 63%), they appear more determined to buy an electric vehicle, in contrast to consumers in Australia (38%) and the US (29%).

Environmental concerns are the primary factor driving participants to purchase an electric vehicle (38%), while increasing restrictions and burdens on vehicles with internal combustion engines are presented, for the first time, as a significant concern (34%).

The survey also notes that those looking to buy an electric vehicle are willing to pay extra. 88% say they would pay more, while 35% are willing to pay 20% more or more.

Confidence in autonomy increases

Finally, the research shows that consumers who already own electric vehicles are less concerned about their range after charging or about the charging infrastructure itself. The top motivator for buying an electric vehicle is, for the second time in a row, their longer range, while only 27% of electric vehicle owners have concerns about charging infrastructure, compared to 36% of those who do not own an electric vehicle.

Commenting on the research findings, Mr John PierrosPartner at EY Greece and Head of EY’s Advanced Industry, Automotive and Transport Sector in the Central, Eastern, South-Eastern Europe and Central Asia (CESA) region, said: “The sharp increase in the popularity of electric vehicles, we believe is linked to the rapid increase in the price of fuel, however, is largely due to the increasing concern of consumers about the climate crisis.At the same time, the fact that the owners of electric vehicles are now less concerned about the range and the availability of charging stations shows us that the development of the necessary networks is proceeding at a satisfactory pace.

In order to respond to this historical turn, and in our country, further actions are needed, both at the State level, but also by the stakeholders of the wider ecosystem of electric mobility, such as car manufacturers, charger manufacturers and energy network managers”.