Despite the benefits of reducing petrol related expenses and emissions, scepticism remains about plug-in electric vehicle technology, according to a new survey by Pike Research.
It has found that there are widespread fears that plug-in electric vehicles may not be as reliable as traditional petrol vehicles. Even though 44 per cent of respondents stated that they would be “extremely” or “very” interested in purchasing a plug-in electric vehicle with a driving range of 40-100miles and an electricity cost equivalent to $0.75 per gallon, there is still a “wait and see” approach with regard to the technology itself.
Despite this, senior analyst Dave Hurst believes that the early adopter market should easily meet the industry’s expectations for the first few years of electric vehicle sales.
Other findings of the survey revealed that 83 per cent of respondents drive 40 miles or less a day; 81 per cent stated improved fuel efficiency would be an important factor when buying their next vehicle; but consumers have a difficult time achieving positive return on investment given the premium price of plug-in electric vehicles and relatively low petrol expenses. According to the survey, respondents reported an average monthly petrol expenditure of $105.70, with 90 per cent saying they spend less than $200 a month on petrol.
Price sensitivity suggests that car manufacturers will face challenges when marketing the vehicles and the optimal price point appears to be 18.75 per cent above the base price of a comparable petrol vehicle. Furthermore, the survey demonstrated that interest levels were similar for less expensive plug-in hybrids with a 10mile range and more expensive all-electric models with a 100mile range.
