A new study released by Guidehouse Insights reveals that consumer attitudes toward electric vehicles remain positive despite sales slumps due to COVID-19 disruptions.
The study is based on a survey of more than 2,000 responses and more than 70 owners of plug-in electric vehicles (PEVs).
The study 2020 Vehicle Preferences and EV Awareness Consumer Survey has found that:
- Global sales of light-duty plug-in EVs reached nearly 2.5 million in 2019 at sales growth of 30% over 2018.
- The US saw an 8% decline in sales since 2018. PEV sales in the US have been inconsistent through the first half of 2020 due to the outbreak of coronavirus. 1Q 2020 had relatively high sales, followed by a sharp decline in 2Q as much of the country was required to shelter in place.
- The lack of charging infrastructure and vehicle purchase price have been identified as the two main barriers for plug-in EV adoption.
- More than 45% of respondents say they were not willing to pay more to purchase a PEV rather than a conventional gasoline or diesel vehicle.
- Consumer knowledge and awareness of PEV technologies and incentives are expected to play a key role in the PEV market.
Raquel Soat, a research analyst with Guidehouse Insights, said: “As OEMs bring more models to the market and investment in charging infrastructure continues to increase, the PEV market will grow across the US.
“Pockets of high adoption in certain markets indicate that policy and economics play a large role in the adoption of PEVs—more exposure brings more awareness of PEV technology, and PEV awareness will continue to increase as states such as Washington, Colorado, and Nevada have committed to becoming zero emissions vehicle (ZEV) zones.”
Learn more about the report.