Interest in Electric Vehicles is Growing, but not Everyone is Ready to Flick the Switch

by Jim Peplinski   Posted on Tuesday, February 21, 2023

Electric vehicles are a hot topic right now. The increase in zero-emissions incentives and production of EVs is painting the picture that the popularity of EVs is growing among consumers. However, while the interest in electric vehicles worldwide is growing, the global market may not be ready to fully adopt them in place of traditional gas-powered options.

The 2023 Global Automotive Consumer Study by Deloitte has raised some critical issues about the public’s acceptance of EVs. It surveyed more than 26,000 people globally, between September and October 2022. The survey results show that the interest in EVs is growing, but some barriers will keep the majority of purchasers from going fully electric.

This survey accounted for people in seven different regions of the world, showing the following key takeaways:

  • 62% of US consumers prefer their next vehicle to have a traditional internal combustion engine (ICE)
  • Japan had the highest preference for an electric alternative at 60% (36% of that prefer a hybrid electric vehicle), with only 36% preferring an ICE
  • 20% of US consumers are interested in HEVs (hybrid electric vehicles), 8% are interested in PHEVs (plug-in hybrid vehicles), and 8% are interested in BEVs
  • The US consumer has the lowest percentage interested in electric alternatives
  • China has the highest preference for BEVs (battery electric vehicles) at 27% of consumers
  • The main concern for consumers remains to be affordability, battery range, and battery safety

With the increase of production in electric vehicles from all major manufacturers and government incentives on the table, the question looms…what percentage of your vehicle fleet do you expect to be electric by 2025?

Learn more. Talk to a Commercial Lease Manager. 

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