We recently surveyed vehicle owners to assess the whether COVID has impacted their preference for electric and other more fuel-efficient vehicles. Fuel efficiency and price seem to be winning the day while preferences for Hybrid/Electric vehicles has faded somewhat likely due to price and the economic impact from COVID reducing purchasing power for many consumers.
What does it take to spur electric vehicle purchase? Beyond the usual barriers of range, charging infrastructure, and price, it seems that offering more choices similar to the range of fuel powered vehicles would entice consumers to take a second look.
In terms of implications, product development investment can look to broaden the choices for consumers on the EV front.
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