A new comprehensive survey reveals a significant shift in global automotive preferences, with 57% of drivers worldwide expecting to own an electric vehicle (EV) within the next 10 years.
The study, which surveyed 6,000 car drivers across major automotive markets, spotlights varying levels of EV enthusiasm across different regions and unveils distinct customer segments shaping the future of electric mobility.
Regional Variations in EV Adoption
According to Accenture, China leads the global push toward EVs, with 65% of drivers believing EVs represent the future of automotive transportation. The United States (U.S.) follows closely behind, with 54% of American drivers anticipating EV ownership within the next decade, and only 11% ruling out ever purchasing an EV.
European markets show more hesitancy, particularly in Germany, where only 37% of drivers express strong support forEVs. Whereas France showed similar skepticism with just 36% fully embracing an electric future.
As a result, these survey results align with recent market trends, as the U.S. has emerged as the world’s second-largest EV market in the third quarter, trailing only China, while some European markets experience slower growth.
Changing Consumer Priorities
The survey reveals a significant shift in EV buyer priorities, marking the end of the early adopter phase. As of now, potential EV buyers prioritize three key factors when considering a purchase. Reliability stands out as the top priority, with 83% of respondents citing it as a crucial consideration.
Safety follows closely behind, with 82% of potential buyers ranking it as an essential factor. Additionally, value for money is equally important, also with 82% of respondents highlighting it as a priority when choosing an EV. This shift in priorities indicates that the EV market is maturing, with more consumers now focusing on practical and long-term aspects of vehicle ownership.
“These priorities mirror traditional car-buying criteria, suggesting EVs are entering the mainstream market,” the survey indicates. Environmental sustainability, once a primary driver for early adopters, has become less central to purchasing decisions.
Around this time a year ago, the first headlines started to emerge about a drop-off in demand for electric vehicles. Automakers including General Motors and Ford began to scale back production plans and delay model launches, and others followed suit.
At the BloombergNEF Summit last week in London, my colleague Aleksandra O’Donovan gave a presentation taking stock of whether there really is an EV slowdown, and what it means for the global auto market.
The verdict: growth rates are slowing, but EV sales are heading for another record year. The full video of the talk can be found here.
BNEF estimates that sales of EVs — including both battery-electric and plug-in hybrid vehicles — are headed to 16.7 million units this year, up from 13.9 million in 2023 and in line with our forecast at the start of the year.