EV Shoppers No Longer Fazed By Range Anxiety

Electric Vehicles / Comments

More people are willing to buy EVs than previously thought.

In case you haven't noticed, several all-new electric vehicles are being launched and plenty more are coming. GM will only sell EVs after 2035 and Jaguar will start to do the same, only a decade earlier. Heck, even the GMC Hummer is now an all-electric truck. The future is electrification, without a doubt, but a vast majority of car owners today still drive combustion-engined vehicles. This transition won't happen overnight but there are already clear-cut signs consumers are seriously reconsidering buying an EV. The latest proof comes by way of the first-ever J.D. Power Electric Vehicle Consideration Study.

The just-published results present good news for automakers who've committed themselves to EVs and those planning to do the same. Basically, undecided battery-electric vehicle (BEV) shoppers simply require some encouragement to take the plunge.

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Some 59 percent of those consumers indicated they're either "somewhat likely" or "somewhat unlikely" to consider a BEV for their next purchase or lease. Those who've owned or leased a BEV in the past are 46 percent "very likely" to drive one again, compared to just six percent in the "very unlikely" category. Again, the key for automakers is to convince their customers to make the switch and, once they do, they're going to be very happy. The thing is, there are more EVs on the market than what demand requires at present.

"Right now, the projected BEV supply outweighs consumer interest. And for every new-vehicle shopper seriously considering BEVs, there's another at the opposite end of the spectrum," said Stewart Stropp, senior director of automotive retail at J.D. Power.

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"To avoid a potential ongoing inventory surplus, it behooves manufacturers and retailers to identify why shoppers in the middle ground aren't completely sold on the technology, and how to get them over the hump into the 'very likely' consideration camp."

Another key takeaway from the survey that automakers will find immensely positive is that luxury car shoppers are generally better-informed about new vehicle tech. Furthermore, the thought of eliminating gasoline expenses takes precedent over so-called range anxiety, and four in 10 non-considerers claim they'd be willing to consider a plug-in hybrid or hybrid in the next two years. Not entirely surprisingly, over a quarter of participants considering a BEV want a Tesla.

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2022 GMC Hummer Rear Angle View GMC
Source Credits: J.D. Power

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