Make that EV cheap
Half of all respondents to a McKinsey global survey say they would consider an electric vehicle, be that a battery-electric vehicle, a full hybrid or a plug-in hybrid. However, 60% are not prepared to pay a premium for an EV, while close to one-third say EVs should actually be cheaper than regular cars.
Pricing is one of the two big concerns consumers have around EVs. The other is limited driving ranges. Around half of Germans surveyed seek 400 kms or more, while the Chinese show the least concern about range.
And they might be right in that respect.
“It seems likely that upcoming EV models will offer ranges closer to these targets, which should significantly boost market shares for such vehicles,” says McKinsey.
And there’s car sharing. Pretty much unknown a decade ago, the survey finds that 36% of non-car owners now say sharing is the primary reason for non-purchase. That is up a huge 18 percentage points on 2017 levels, with spikes among respondents under 50 years of age (43%), respondents living in large cities (44%), and Chinese respondents (48%).
“Expect these percentages to grow in the future,” the consultancy says. “Over 60% of the respondents under 30 would trade their cars for a robo-taxi service, and 27% say they would do so even if the total cost were equal to or higher than the cost of owning a car.”