S&P Global Mobility Survey Finds EV Affordability tops Charging and Range Concerns in Slowing EV Demand
SOUTHFIELD, Mich., Nov. 8, 2023 /PRNewswire/ -- Although range anxiety and the charging network remain reasons to hesitate, a recent global survey of consumers showed that potential EV buyers are most concerned about the impact to their wallet. What's more, this is not just a US-market phenomenon. It's affecting consumers worldwide – even in regions where EVs have made significant market inroads.
- That said, improved electric vehicle range, and the increased number of model choices, have moved down consumers' list of reasons to avoid purchasing an EV.
- Just 58% of 2019 S&P Global Mobility survey respondents were open to purchasing an EV, as luxury-priced models dominated the early EV market.
- Buyer willingness soared, with 86% of global respondents being open to acquire an EV.
- Charging concerns are second only to vehicle cost among reasons cited for those respondents against buying an EV.