Survey: JD Power Outlines EV Interest
March 8, 2021—Automakers across the globe are pushing the pedal to the floor on electric vehicles, but are consumers really ready to switch up their rides?
J.D. Power has been conducting a variety of surveys intended to answer that question and many more about electric vehicle interest, ownership, and charging. J.D. Power’s most recent survey, Electric Vehicle Consideration Study, gathered opinions from more than 9,000 individuals who are in the market to buy or lease a new vehicle.
The survey yielded five key takeaways for stakeholders across the industry that were outlined during a recent virtual event. Stewart Stropp, senior director of automotive retail for J.D. Power and host of the webinar, put it simply when he said, “Current adoption rates are low, but a lot of analysts are expecting explosive growth going forward.”
For every 10 shoppers, two are in, two are out, six are in between.
For every 10 people surveyed, Stropp said two were sold on electric vehicles, two would cling to their internal combustion engines, and six of the ten needed convincing.
“A large percentage of the car-buying public remains uninterested,” he said.
“You need experience to gain wisdom.”
A quote from Albert Einstein illustrates the second takeaway, which is that those who had experiences driving or riding in EVs, were more likely to consider buying one. Stropp said those who had purchased an electric vehicle in the past were very likely to buy a new one. Whereas respondents with no experience driving or riding in an EV, were less likely to consider buying one.
Based on these results, Stropp said we could see an increase in take home test drives, driving events, incentive programs and more to get people interested in EVs.
Information begets consideration.
Of everyone surveyed, Stropp said 30 percent of those who wouldn’t consider buying an EV, or “non-considerers” attributed their unlikeliness of adoption to a lack of information.
Non-considerers fear a lack of clarity on a variety of items, Stropp said, like resale value, tax credits, and even utility rate adjustments from charging at home.
“This is a clear and actionable opportunity for stakeholders to actively educate consumers about the value of owning an EV,” he said.
There’s a BEV interest among fast growing segments of the population.
Stropp said J.D. Power’s survey collects a variety of information from its anonymous respondents so it can track trends across various demographic segments.
When it comes to EVs, Stropp said there is a very high consideration rate among Asian, Latino, and Hispanic shoppers.
Bolt and Tesla come out on top.
According to the results of the survey, Tesla’s Model 3 and the all-electric Chevrolet Bolt are among the top contenders for those considering purchasing EVs. Other eye-catching electric models include the Mustang Mach-E, Hummer EV, and Rivian models, he said.
Cause for Concern
Among those who were “non-considerers” of EVs, Stropp said a primary concern was a lack of repair and service centers. It’s not that body shops aren’t able to do work on electric vehicles, he said, it’s a lack of information on which shops can do repairs for EVs.
Another trend outlined by Stropp among non-considerers was fear of an entirely online experience—for purchase, service, and repair. Stropp said some respondents were hesitant, fearing a turn from brick-and-mortar shops to online only, which he said, “is not the case.”
If you’re a shop owner, this could mean it’s time to run a marketing campaign advertising that you are certified to conduct repairs on electric vehicles. If your shop isn’t performing EV repairs, then it may be time to crunch some numbers and send your most promising technicians to training seminars.