8:58 pm, March 10, 2011
THE mass adoption of electric vehicles by consumers is still some distance away a new study by Deloitte has found.
The business advisory firm’s survey of 4,760 European consumers found that only 16 per cent saw themselves as potential first movers to buy or lease an electric vehicle.
53 per cent said they might be willing to consider it, and 31 per cent said they are not likely to consider purchasing or leasing an EV.
David Raistrick, automotive partner and head of manufacturing at Deloitte UK, said: ‘There is no doubt that electric vehicles are the future of the automotive industry.
‘However, while interest in electric vehicles is growing, with 69 per cent of respondents willing to consider an EV today, current market offerings generally fall far short of consumers’ expectations for driving range, charging time, and purchase price.’
More than 80 per cent of European consumers surveyed said that convenience to charge, range, and the cost to charge were all key considerations when buying or leasing an EV.
Raistrick explained: ‘Range, price and charging concerns need to be addressed. Our research shows that there are specific design targets that manufacturers must reach in order to entice car buyers.
‘Three-quarters of European consumers surveyed (74 per cent) said that before they would consider purchasing an EV, they would expect it to be able to travel 300 miles between charges – much higher than what is currently available – and 67 per cent said the battery must take no longer than two hours to charge.
‘In the UK, however, consumers consider the ability to travel at least 200 miles between charges to be the tipping point, especially in London and the south east.
‘For mass adoption, manufacturers will need to meet the challenge of pricing electric vehicles in line with consumer expectations, while still maximising their margins. Consumers are not likely to want to pay a high price premium for EVs.
‘This means that incentives such as tax reductions and exemptions will be very important to the purchase decision. Just like the Government supported the highly successful car scrappage scheme, they should now be turning their attention to electric vehicles.
‘However, a bright note for the UK is that it appears from our research that UK consumers are more willing to pay a premium for electric vehicles than their counterparts in other European countries,’ added Raistrick.
