A recent survey by McKinsey & Co. found that 46 percent of U.S. electric vehicle (EV) owners are likely to opt for a combustion-powered vehicle for their next purchase. The primary reasons cited for this inclination include concerns about the slow rollout of the National Electric Vehicle Infrastructure program by the U.S. Department of Energy, high costs of ownership, and the need for a more suitable car for longer journeys. These factors have led almost 1 in 2 current EV owners to consider switching back to internal combustion engine (ICE) vehicles. It’s worth noting that the state of public charging infrastructure plays a significant role in shaping EV owners’ preferences. As the next generation of EV buyers relies more on public charging, addressing these concerns will be crucial for the industry’s growth.
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McKinsey: 46% of U.S. EV owners want to switch to ICE vehicles
June 17, 2024#ElectricVehicles #Climate pic.twitter.com/1MyQ78sCMT— Anas Alhajji (@anasalhajji) June 18, 2024
Used EV price crash keeps getting deeper with ‘premium’ brand idea history
- Used EVs are now selling for thousands of dollars less, on average, than comparable gas-powered vehicles.
- The difference between the price of a used Tesla Model 3 and BMW 3 Series shows how a “premium” associated with EVs in the initial boom has been erased, according to an analysis from iSeeCars.
- As more EVs enter the used market at lower prices, there is a wider market of potential first-time EV owners.