KPMG’s recent study shows that even with the same price and features, most Americans still favor standard gas vehicles over electric or hybrid cars. Despite the hype around electric vehicles (EVs), the study found that only one-fifth of U.S. consumers would choose an EV over traditional gas-powered or hybrid vehicles, reports Reuters.
Consumers Stick to Gas Cars
The survey highlights a noticeable preference for gas-powered cars among American buyers, indicating a potential challenge for automakers pushing for an EV future. This preference is emerging even as global demand for EVs slows, leading major automakers like Ford, General Motors, and Mercedes to reconsider their EV strategies.
Charging Time Expectations
One of the critical issues identified in the study is the gap between consumer expectations and industry capabilities regarding EV charging times. About 60% of U.S. consumers want charging times of 20 minutes or less, while only 41% of auto executives think this is feasible. This discrepancy suggests that current EV charging infrastructure might not meet consumer demands, posing another hurdle for EV adoption.
Features That Matter
The study also revealed that fewer consumers are willing to pay for self-driving features and in-car entertainment compared to essential features like safety, Wi-Fi, and charging locators. This finding could influence how automakers design and market their future vehicles.
Survey Details
The insights come from KPMG’s American Perspectives Survey, which includes responses from 1,100 U.S. adults nationwide. This broader survey covers various aspects of the economy and shifting consumer preferences, offering a comprehensive look at current trends.
EVXL’s Take
This study underscores the challenges facing the EV market in the U.S. Despite technological advancements and environmental benefits, consumers remain hesitant to fully embrace electric vehicles. Automakers need to address concerns about charging times and emphasize essential features that matter most to buyers. Bridging this gap could be key to accelerating EV adoption in the American market.
Photo courtesy of Tesla
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