Survey: EV Buyers Scoff at Price Tags Over $25,000
December 2, 2013 12:26 PM
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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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Not really surprising
12/4/2013 11:20:08 AM
I actually own a Volt and for myself it's turned out to be a near perfect car. The 40 mile range of the battery is perfect for the small city I live in (about 10 miles across). There's also a lot of misconceptions as well. The Volt will stay entirely on battery unless it's too cold or it runs out of battery so I've been able to log over 4,500 miles (6 months) on a single tank of gas. The Volt feels fast even thou it's only slightly faster than a prius in 0-60 races due to the fact that its power to weight ratio is higher than even a Telsa S. In a drag race between the two, the Volt will for a second leap off the line faster but lose because it doesn't have the power to keep up. Power is cheap in my area at 7 cents / kwh and nearly all hydroelectric. The fact that it has a gas engine is a huge benefit because I live in a snow belt. The gas engine is great at generating heat in the wintertime. Probably the only major change is that I actually drive more than I did in the past because friends like asking me for rides because it costs me next to nothing to give them one.
If you can afford it, and you're okay with a 4 seater, it's a great very modern car. The low center of gravity and planetary gear drive gives the car a very solid smooth feeling ride.
But in reality, most folks ARE broke. With the recession and the young graduates I see from university without jobs it's really hard for them to afford anything worth more than about $20,000. I even worked in call centers and was jobless for several years so I can see how that can be a problem.
New technology is always expensive, so it's not surprising that only a small group of folks are buying EVs but they're needed. It isn't much different from hybrids which originally were only bought by a small group of folks but it seems are now just starting to end up in a lot of new cars. After seeing how well the Volt's worked for me, I would say that the technology is finally mature. It just needs to get cheaper for the masses to adopt.
RE: Not really surprising
12/4/2013 1:09:13 PM
The reason the Volt is described a joke is that the economics never pencil out. It's a fun car to drive but so is a comparably priced BMW. It's a bit of a gas hog on the freeway for it's class. And it's a Chevy - a deal killer for the brand-aware.
If the Volt sold for $20,000, which it should have been from the beginning, it would have transformed US transportation.
RE: Not really surprising
12/4/2013 2:58:41 PM
The Volt does around 40 mpg when running on gas in real-life. Admittedly compared to a Prius (which is slower) it's a little worse, but compared to the average car it's a LOT better. My 05 Corolla didn't get this kind of fuel mileage. One oddity I should note is that when the Volt is out of battery it's essentially a hybrid, so unlike most cars, it's mpg doesn't get worse if you say get stuck in traffic or are driving through hills.
A regular BMW doesn't drive like an EV. An EV is silent and the acceleration is completely linear. There's no jumping of gears, hesitation or anything. EV's are absolutely great cars for urban stop and go driving. Like remote starting your car in the cold winter mornings? Volt starts electric off house power and you're not stuck with a garage or car full of gas fumes or if the wind is blowing the wrong way. It also changes how you drive. My brother owns an actual BMW and he doesn't like to drive it because it just burns through so much gas. In comparison since electricity is so cheap ($1 roughly for 40 miles), I probably end up putting more miles on my Volt.
BMW also has the i3 which costs more than the Volt and ontop of that it can't really be used cross-country. Recent tests revealed that the gas engine is so underpowered it can't make it up hills and with that small of a gas tank you'd be filling up every hour at least.
I could care less about brand, in following the owners forums it seems very reliable. With the occasional factory defects which affects all cars, it's on par with most other brands.
I agree that if the Volt could be sold for $20,000 it'd probably sell faster than GM's ability to produce it. The problem is you can't make an EV with an effective gas engine for $20,000 in a complete package that works as well as the Volt in all the varying climates and conditions from Alaska to Mexico. (This is important because some EV's such as the Nissan Leaf suffer from premature battery failure in hot weather.) When GM first released the Volt, they were willing to take a slight loss on each vehicle to test the technology. I would say that's been a success. Hopefully with time, the technology will come down in price.
RE: Not really surprising
12/7/2013 11:18:17 AM
That's with the old pricing. At $27.5k after tax credit, the economics of a Volt are pretty good compared to a $22k Cruze Eco auto which isn't as nice a ride or as well equipped.
It absolutely will cost less over its lifetime than the Cruz, and after 150k miles its engine will generally have less than 50k on it.
"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken
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