Survey: EV Buyers Scoff at Price Tags Over $25,000
December 2, 2013 12:26 PM
comment(s) - last by
They also don't want to pay much more than a dollar for a public quick charge
A new survey shows that many consumers are not willing to pay over $25,000 for an electric vehicle (EV) or plug-in hybrid.
Colorado-based consulting firm
recently released the results of its Electric Vehicle Consumer Survey, which showed 71 percent of consumers surveyed wouldn’t buy EVs priced over $25,000. It also showed that 43 percent wouldn't spend over $20,000 for a new EV or plug-in hybrid.
The survey holds results from 1,084 participants total.
Those in the 43 percent not willing to spend over $20,000 will likely have a more difficult time in the EV market, but some vehicles -- like the all-electric Nissan Leaf -- fall into the sub-$25,000 category that would appeal to most consumers.
The 2013 Nissan Leaf saw a $6,400 U.S. price cut earlier this year to $29,650. After the $7,500 federal tax credit is applied, it falls at $22,150.
This price drop
helped the Leaf quite a bit
this year when it comes to sales. Through October, U.S. sales of the Leaf are more than two-and-a-half times higher than the year-ago period with 18,078 units sold.
The survey also noted that 67 percent of participants have a positive opinion on hybrids in general while 61 percent have favorable views on EVs.
As far as specific models, the
had the highest familiarity with 44 percent of respondents saying that they're "somewhat familiar" with it while only 6 percent said they're "extremely familiar." The Leaf, on the other hand, had 31 percent who were "somewhat familiar" while less than 5 percent were "extremely familiar."
The survey also said that about 40 percent showed interest in public charging stations, but over half said they would use a quick charge unit only
if it was free
or less than $1, while just 16 percent would be willing to spend more than $2 for a 15-minute charge.
Navigant Research predicts that 30,195 EVs and 59,106 plug-in hybrids will ship this year. By the end of the decade, it expects shipments of 130,641 EVs and 210,772 plug-in hybrids.
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Hybrids tainted the pool
12/2/2013 5:20:53 PM
There is a pretty good reason why people aren't willing to shell out more than 25K on an EV, and they have started to see this with hybrids, the resale/trade in value is crap. People who bought hybrids have gone to trade in or sell their used hybrid they spent $30-40k for and are only offered $5k for their not very old vehicle. The problem comes in that the class in this case dictates the trade in/resale value. Most hybrids are in the $15k class, so when you drop $40k on one you've just thrown a lot of money away which you will not recoup from saving on gas. So saying people are stupid for not wanting an EV is they've seen people duped with hybrids and know there are a lot of unexpected costs that are associated with them.
RE: Hybrids tainted the pool
12/4/2013 12:59:43 PM
Don't know where you're getting your numbers but my wife bought a Prius for $23000 three years ago and the dealer (the dealer!!) offered her $18000 for it. I don't know of a $40,000 hybrid - is that a Lexus? - but the vast majority of hybrids sell for around $25000-$30000 and anything above $25K is just bells and whistles - i.e. you could have bought the same car for $23K with the basics.
I agree that a hybrid may fall into a lower "class" than it's sticker price may indicate, but barely. A $25,000 Prius is now estimated to be only about $2500 more than it's comparably equipped non-hybrid competitor. Similar math applies to diesels. Since most people can grasp that $2500 is easily paid back in fuel savings, it's acceptable.
Electric vehicles are a whole other story - I drive one but I'm not yet convinced that they make economic sense for most drivers. If/when gasoline goes above $4 a gallon and if you drive more than 15k miles a year, the economics are there.
RE: Hybrids tainted the pool
12/6/2013 12:55:42 PM
sell their used hybrid they spent $30-40k for and are only offered $5k for their not very old vehicle.
Let's presume that "not very old vehicle" is 4 or less years old, i.e., 2010+ model.
If these magical 2010 hybrids that were originally purchased for $40,000 and now are being sold for $5,000 actually exist... then find me one and I will fly out and immediately buy it for $10,000. That means you will double your money in a day.
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