- Price of acceleration for international EV adoption has slowed, agency suggests focus past early adopters
- Examine relates EV adoption to Strategist, Individualist, Carer, Conservative, and Frugal psychographic profiles
- Previous to “reset,” 43% of non-EV drivers are already contemplating an EV subsequent
Automakers stand to considerably develop international EV gross sales over the subsequent 10 years, however provided that they refocus from tech-savvy early adopters to mainstream patrons, argues a new research from consulting agency Accenture.
The research predicts that 57% of drivers may have switched to EVs throughout the subsequent 10 years, with 43% of non-EV drivers already contemplating an EV for his or her subsequent car buy. And 47% of drivers “are satisfied that the long run belongs to electrical automobiles,” based on the research. That is primarily based on a survey of 6,000 automotive patrons within the U.S., China, Italy, Germany, France, and Japan.
EV gross sales progress is not taking place at as steep a charge. Whereas international EV gross sales noticed a 35% year-on-year improve in 2023, that was down from 55% in 2022 and 121% in 2021, the research famous. That ought to nonetheless be seen as a feat after the pandemic catch-up years of 2021 and 2022, however analysts consider automakers will want a “strategic reset” to generate extra EV gross sales.
2024 Tesla Mannequin S. – Courtesy of Tesla, Inc.
As a substitute of specializing in tech options, which has been efficient in attracting early adopters, Accenture believes automakers ought to give attention to the extra sensible considerations of mainstream patrons. The vast majority of automotive patrons (80%) prioritize reliability, security, and affordability, so automakers ought to prioritize these elements as effectively, the agency argues.
Accenture assembled psychographic profiles of various kinds of potential EV patrons. Whereas the “Strategist” and “Individualist” worth issues like luxurious and expertise options, respectively, the “Carer” views vehicles merely as instruments, the “Conservative” emphasizes reliability, and late-adopting “Frugal” automotive patrons will solely make the swap to an EV as soon as prices attain a sure threshold.
2025 Volkswagen ID.4
Different research have come again with related findings on lagging EV curiosity. A Gallup ballot final 12 months underscored that fewer People are aspiring to EV possession than had been the case only a 12 months earlier. And a 2023 J.D. Energy research discovered that U.S. EV adoption is changing into extra polarized by state.
Greater than a decade in the past as some paid practically $40,000 for variations of the Nissan Leaf and different early EVs with sub-100-mile vary, it was underscored that these EV pioneers and early adopters are night-and-day completely different from mainstream auto patrons—in lots of respects. Specializing in what issues for mainstream consumers—practicality and price—would be the apparent course if automakers actually wish to get critical about upping their EV gross sales.
