Gaining traction: Will consumers ride the electric vehicle wave?
DTTL’s Global Manufacturing Industry group conducted a global survey to explore consumer adoption of electric vehicles (EVs). The online survey captures the views of more than 12,000 consumers across the Americas, Asia and Europe in 17 countries. Within China, 1,163 consumers from 22 major urban areas throughout China were surveyed from 28 January to 8 March 2011.
According to the survey, 93% of Chinese consumers are interested in buying or leasing an electric vehicle. Of the world’s four dominant automotive markets - China, United States, Europe, and Japan – Chinese consumers stand out as potential first movers in the adoption of EVs. Fifty percent of Chinese consumers surveyed identify themselves as potential first movers in purchasing or leasing an electric vehicle compared with 12% in the United States, 16% in Europe, and 4% in Japan.
Mass adoption of EVs will be significantly influenced by a number of factors, including rising fuel prices, advancements in internal combustion engine vehicles, and the availability of government incentives. The survey shows that there is a tipping point in terms of fuel prices influencing consumer adoption of EVs. In addition, automakers will be challenged to price electric vehicles to meet the expectations of consumers while maximizing their margins.