Common misconceptions prevent consumers from investing in battery electric vehicles.
According to the recently-published Ipsos Global Mobility Navigator Syndicated Study, consumers are less than eager to invest in battery electric vehicles (BEVs), even though they’re concerned about global warming and vehicle emissions. The Study concludes that there is a disconnect between environmental beliefs and automobile selection.
Ipsos discovered three main barriers towards BEV ownership for consumers: overall cost, range and charging location stations.
“The primary barrier is price, regardless of the type of vehicle in question, it is the most important factor when drivers are purchasing/leasing a new vehicle,” explained Todd Markusic, Vice President of Mobility at Ipsos. “This poses a huge hurdle for BEV manufacturers since the cost of batteries remains high and are then rolled into the asking price. Our study revealed consumers are only willing to pay up to an extra 10% more for a BEV over a similar gas/diesel version of the vehicle. However, we see once that price point exceeds 20%, consideration in the BEV option drops considerably.”
With dozens of new electric models expected to be released over the next few years, the auto industry will need to understand consumers’ concerns, as well as allay drivers’ fears.