Interest in electric cars is higher than ever, with more than half of car buyers now expressing interest in electric alternatives.
Research from Ernst & Young published in May showed that 52% of global car buyers are now looking at electric cars as their next car purchase, with first-time appetite surpassing 50% and rising by 22 points over the last two years.
While the United States has seen an increase in interest in the vehicles, much of the demand was driven by European and Asian markets.
“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 US (29%) are the least committed,” the May report reads.
Researchers found that environmental concerns were the main driver for the interest in electric vehicles, at 38%, with rising prices and penalties for using internal combustion engine vehicles a close second at 34%.
Randy Miller, the head of EY’s Global Advanced Manufacturing & Mobility division, said that the findings mark a “tipping point in the global car-buying market.”
“For the first time since EY teams have been collecting this data, more than 50% of consumers across the globe indicate that they want an EV. The speed of this change has also been eye-opening, with a rise of 22 percentage points in just two years,” Miller said.
“There is no doubt that global gas price rises have played their part in making internal combustion engines more expensive, but environmental concerns also remain top of the list of motivators. Consumers are becoming increasingly socially and environmentally conscious, and they’re willing to pay a premium to meet their environmental standards.”
U.S. Interest In Electric Cars Spikes
As gas prices continue to hit new records, averaging more than $5 per gallon nationwide, interest in electric vehicles in the United States is increasing.
In California, electric vehicles now make up 16% of new car sales, according to data from the first quarter of this year. Analysts also estimate that national electric vehicle sales in the same period may have reached 200,000, putting 2022 on record to comfortably outpace last year’s sales figures.
The upward trend of EV car sales in recent years correlates with the expansion of charging infrastructure across the United States in 2018. Drivers are increasingly comfortable with the idea of charging electric vehicles at public charging spots, and electric vehicles are also becoming increasingly efficient with longer ranges.
Jack Buckby is a British author, counter-extremism researcher, and journalist based in New York. Reporting on the U.K., Europe, and the U.S., he works to analyze and understand left-wing and right-wing radicalization, and reports on Western governments’ approaches to the pressing issues of today. His books and research papers explore these themes and propose pragmatic solutions to our increasingly polarized society.
