| CARCHEX Research Center

Who Wants An Electric Car Anyway? It Depends

Electric cars have been around for quite a few years now, but who wants them? According to a recent study, the demand for these cars has been steady. However, some buyers are more interested than others. Let’s find out more.

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Stable Or Increasing Demand?

The demand for electric cars has been stable over the past two years, according to a recent Harris Poll. Overall, it appears that sales coincide with this data, as in 2015, about three percent of new cars purchased are electric or hybrid vehicles. In general, about 50% of car owners, or would-be owners, would consider purchasing an electric car.

If we look deeper into the numbers though, total plug-in vehicle sales numbers have been growing steadily year after year, even if the percentage of total cars sold has been flat.

Top Concerns

According to the study, the concerns of price and range are limiting factors. The relatively lower cost of gasoline certainly comes into play here as well since saving at the gas pump is less of a worry these days. Expensive repairs on complex electric car parts may also be a concern for owners.

Age Brackets

Not surprisingly, the younger millennial generation are more likely (57%) to consider purchasing an electric car as compared to other age groups. In comparison, only 43% of Baby Boomers would consider purchasing an electric car, and among mature adults, only 38% are thinking electric.

Gender And Other Factors

Overall men are more likely to consider an electric vehicle than women. Does political party make a difference? Apparently it does, as 53% of Democrats and 52% of Independents would consider buying a hybrid. Meanwhile, 42% of Republicans would think about an electric vehicle purchase.

Logically, those who drive long distances – over 50 miles per day – also express up to 40% more interest in electric vehicles.

Best Sellers

Among pure electric cars, there are some distinct favorites. At present, the best-selling all-electric cars are:

  1. Nissan Leaf
  2. Tesla Model 5
  3. BMW i3
  4. Daimler Smart ED
  5. Ford Focus Electric

The Leaf and the Tesla both sold around 30,000 units last year. Meanwhile, BMW sold around 6,000 electric vehicles total. Daimler and Ford sold around 2,600 and 2,000 electric model cars respectively.

The Future?

As with any new technology, electric cars may take a while to catch on. As time passes, prices will drop making demand higher. Plus, as millennials grow older and have more purchasing power, that may boost electric car sales as well.

Hybrid and electric vehicles have become a viable, sustainable alternative to traditional combustion engine cars. it’s good to have a diversity of options to choose from.

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