Study: People Want to Buy EVs but Costs Are Still Too High

One of the things that EV antagonists often cite is a lack of buyer enthusiasm for electric vehicles. As it turns out, the demand is there, but costs are a significant hurdle for buyers. A recent study from KPMG found that most people are interested in buying an EV, but many cite affordability as a hurdle to ownership. 

Around half of gas and diesel vehicle owners told KPMG that they were considering a hybrid or electric vehicle, and most of that group said they were considering a purchase in the next two years. Environmental concerns are a top priority for these buyers, but their green ambitions are running up against a very real financial wall. KPMG’s global automotive sector leader, Gary Silber, told Automotive News that “a lot of people are excited about the opportunity, but I don’t know how many people can afford it.”

KPMG found that EV demand followed location, with West Coast residents and the Pacific Northwest leading the charge. Unsurprisingly, households with more money were more likely to own an EV or alternative fuel vehicle. Lower-income consumers were least likely to consider the move, though Silber said that credits might help in the coming years. Beyond income, Silber also thinks that dealer service and product knowledge will play a significant role in consumer product adoption. 

[Image: Kia]

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from TheTruthAboutCars https://www.thetruthaboutcars.com/cars/news-blog/study-people-want-to-buy-evs-but-costs-are-still-too-high-44501032?utm_medium=auto&utm_source=rss&utm_campaign=all_full