2021 Path to EV Adoption
The major buzz around the automotive industry is the EV future is near and adoption must be accelerated. The government announced a push for 50% of new vehicles sold in the US to be electric vehicles by 2030. Auto manufacturers are launching more EVs, opening more factories, and investing in battery innovations. Current EV consideration is healthy, however the conversion to sales will be challenging with multiple barriers.
THE INDUSTRY MUST BUILD HIGHER CONSIDERATION AMONG SHOPPERS
Considering EV for Next Vehicle
EFFECTIVELY TARGET EV SHOPPERS
EV Considerer Profile
DIRECT CONSUMERS TO SITES THAT PROVIDE MEANINGFUL CONTENT
Websites Used (Among Owners)
FOCUS ON CORE ELEMENTS SUCH AS PRICE AND RANGE
100 Points Allocated to Attributes Important to EV Consideration (Among Considerers)
THE INDUSTRY MUST WORK TOWARDS LOWERING EV BARRIERS
Top barriers to EV (among EV Non-Considerers)
DRIVE CONSIDERATION BY REACHING PRICE PARITY
Impact or Pricing to EV Consideration (Among Total Vehicle Intenders)
IMPROVE EV MILEAGE RANGE TO PROVIDE RANGE AUTONOMY
Battery Range Among Considerers
HELP DEALERS PREPARE FOR THE EV FUTURE
FOSTER BRAND LOYALTY TO HELP INCREASE EV ADOPTION
Intention to re-purchase from current brand if they went all-electric (% somewhat/very likely
BUILD BRAND AWARENESS FOR EVs
EV Brand Awareness and Consideration (Among Considerers)
The 2021 Cox Automotive Path to EV Adoption study provides a better understanding of EV barriers and uncovers market perceptions and customer experiences with EVs. Research was conducted in June and July 2021 with nearly 5,000 consumers from 18-72 years old who owned, considered or rejected a BEV (Battery Electric Vehicle).