Findings:
Americans prefer gasoline-powered vehicles over electric vehicles (EVs) and hybrids, even when costs and features are the same.
Only 21% of consumers would choose an EV in such a scenario, while 38% would pick a gas-powered vehicle and 34% a hybrid.
San Francisco is an outlier, with 73% of respondents favoring electric or hybrid vehicles.
A major barrier to EV adoption is charging time, with 60% of consumers wanting a charge in 20 minutes or less.
Consumers are less interested in paying for self-driving features compared to safety features like lane keep assist, in-vehicle Wi-Fi, and charging locator.
Key Takeaway:
Despite the increasing focus on EVs, American consumers still strongly prefer gas-powered vehicles, primarily due to concerns about charging times and the perceived value of self-driving features.
Trend:
While there's a global push for EV adoption, this study indicates a significant gap between consumer preferences and the industry's focus on electric vehicles. This trend is likely to continue unless the charging infrastructure and EV technology significantly improve to meet consumer expectations.
Conclusions:
The automotive industry needs to address consumer concerns about charging times and the value proposition of EVs to accelerate adoption.
Focusing on developing faster-charging technologies and highlighting the practical benefits of EVs over gas vehicles could be key to changing consumer preferences.
The demand for self-driving features may not be as high as anticipated, suggesting that the industry may need to reassess its focus on autonomous vehicle development.
Implications for Brands:
EV manufacturers should prioritize developing faster-charging technologies and expanding charging infrastructure to make EVs more convenient for consumers.
Marketing campaigns should focus on highlighting the practical benefits of EVs, such as lower operating costs and environmental advantages, rather than solely focusing on futuristic features like self-driving.
Brands should consider offering more affordable EV models to compete with gas-powered vehicles on price.
Collaborating with other industries, such as energy companies and charging station providers, can help accelerate the adoption of EVs by addressing infrastructure challenges.
Traditional automakers should invest in hybrid technology as a stepping stone towards full electrification to cater to consumer preferences for a combination of fuel efficiency and convenience.
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