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Automotive

For the first time, over half of global car buyers seek EVs

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The number of consumers looking to buy electric vehicles has hit a global tipping point, according to the latest EY Mobility Consumer Index, which shows that 52% of respondents looking to buy a car want to buy an EV. This is the first time the number has exceeded 50%, representing a rise of 22 percentage points in two years.

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The survey of 13,000 people in 18 countries shows that car buyers in Italy (73%), China (69%) and South Korea (63%) are the most committed to buying an EV, while consumers in Australia (38%) and the U.S. (29%) are the least committed. 

Environmental concerns are cited as the main driver for respondents to buy an EV (38%), although rising penalties on internal combustion engine (ICE) vehicles featured for the first time as a key concern (34%), the survey says.

The survey also shows that those looking to buy an EV are willing to pay a premium. Eighty-eight percent say they would pay more, and 35% are willing to pay a premium of 20% or more.

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The survey also shows that those who already own EVs are less worried about “range anxiety” or charging infrastructure. The top motivator for second-time EV buyers is that “EVs now have longer ranges,” and 27% of EV owners were concerned about charging infrastructure compared to 36% of those currently without an EV.

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