{"id":41042,"date":"2023-12-22T09:00:17","date_gmt":"2023-12-22T09:00:17","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=41042"},"modified":"2023-12-12T15:19:59","modified_gmt":"2023-12-12T15:19:59","slug":"1-in-3-europeans-wont-pay-high-electric-vehicle-premium-report-finds","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/1-in-3-europeans-wont-pay-high-electric-vehicle-premium-report-finds\/41042\/","title":{"rendered":"1 in 3 Europeans won\u2019t pay high electric vehicle premium, report finds"},"content":{"rendered":"

An end-of-year study conducted by Escalent has found that one in three Europeans (34%) don\u2019t want to pay a high electric vehicle premium over a petrol vehicle.<\/h2>\n

The report also found this is a particular issue in Germany and Spain, where nearly half of new-car buyers (45%) expect the cost of an electric vehicle premium to be either lower than or the same as a new petrol vehicle compared with 31% in the UK, 30% in Italy and 16% in France.<\/p>\n

This is one of the key findings of data analytics and market advisory firm Escalent\u2019s annual EVForward Europe study<\/a>, which annually surveys more than 10,000 consumers across France, Germany, Italy, Spain, and the UK who intend to buy a car in the next five years.<\/p>\n

Fewer people believe electric vehicles are the future compared to last year<\/h3>\n

Despite most EV car owners being happy overall with their experience, the electric vehicle sector is seen increasingly as a work in progress<\/a>.<\/p>\n

Fewer people this year, 36%, compared with 42% in the 2022 study, feel that EVs are the future.<\/p>\n

This weakening of positive sentiment about EVs being the future is particularly evident in Spain, Italy, and France. The dominant perception of EVs by 40% of Europeans now is that it is an interesting idea.<\/p>\n

Further, purchase price is one of the top four factors that 41% of new-car buyers consider most important when purchasing their next vehicle, with environmental benefits being the top reason for more than 20% of buyers.<\/p>\n

\u201cThe EV market in Europe needs a bit of a recharge,\u201d stated Mark Carpenter, Managing Director of Escalent UK.<\/p>\n

\u201cThe lack of visible improvement in electric vehicle charging infrastructure, \u2018range anxiety\u2019 and concern about the premium price, which was further highlighted with Tesla\u2019s price cut, have dampened consumer opinion that EVs are the way forward in the future.\u201d<\/p>\n

What other trends did the report highlight?<\/h3>\n

Other key findings from the study include:<\/p>\n