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Pike Research Survey on EV Attitudes

Discussion in 'Electric Vehicles' started by Robert.Boston, Jan 3, 2012.

  1. Robert.Boston

    Robert.Boston Model S VIN P01536

    Oct 7, 2011
    Portland, Maine, USA
    Interesting survey done by Pike Research. I'm not willing to pay $2400 to buy the whole, but the executive summary was free. Relevant points (quoting Pike):
    • Nearly three-fourths of respondents (74%) drive 40 miles or less to work daily and
      therefore would be well served by a plug-in hybrid electric vehicle (PHEV) with a 40-mile
      range. Survey participants stated that they drive an average of 22.2 miles to work per
      day. Nearly all plug-in vehicles have been developed to exceed consumers’ daily driving
      distance by providing a minimum of 30 miles of all-electric range under optimal
      conditions. The exception is the Toyota Prius Plug-in Hybrid Vehicle, which has an
      electric range of 15 miles.
    • 81% of respondents stated that improved fuel efficiency would be an important
      factor when purchasing their next vehicle. This preference should serve as a good
      foundation for consumer EV demand and should partially offset demand inhibitors such
      as price sensitivity.
    • Fundamental interest in PEVs was strong among our survey participants, with
      40% stating that they would be “extremely” or “very” interested in a plug-in hybrid or
      all-electric vehicle with a range of 40 to 100 miles and an electricity cost equivalent of
      $0.75 per gallon.
    • Levels of interest in EVs were not dramatically different between demographic segments
      such as age, gender, income, and level of education, suggesting that these vehicles
      should have solid mass-market appeal. That said, consumers under age 30 are
      somewhat more likely to demonstrate interest in PEVs, as are people with higher levels
      of education.
    • Pike Research’s price sensitivity analysis, utilizing the Van Westendorp Price Sensitivity
      Meter methodology, indicates that for a traditional internal combustion engine (ICE)
      vehicle that would ordinarily cost $20,000, the optimal price point of a comparable PEV
      would be $23,750 – a significant price premium. While this indicates an understanding
      among consumers that PEVs will be priced at a premium, the amount is significantly less
      than automakers’ intended prices. We believe that this gap between actual pricing and
      consumer willingness to pay will be a significant inhibitor of demand for PEVs.
    • Our results indicated that one size does not fit all when it comes to consumer PEV
      preferences. When asked to choose between five different PHEV and EV range/price
      options, respondents did not state a clear preference for any one configuration. Of the
      choices offered, the electric-only model with a 100-mile range of had the greatest number
      of respondents showing interest with 24%. It is notable that another 25% of respondents
      stated that they would not purchase any of the options provided.
    • A vast majority of survey respondents (80%) indicated that they would be “extremely” or
      “very” interested in upgrading to a residential “fast-charging” EV charging unit that would
      utilize the same amount of electricity but reduce charging times from 8 to 12 hours to 2 to
      4 hours.
    • However, Pike Research’s survey results indicate that pricing is once again an issue with
      fast-charging equipment. Although our analysis suggests that the first generation of
      residential fast-charging equipment will cost between $500 and $800, only 28% of
      panelists stated that they would be willing to pay $500 or more for this capability. The
      average price consumers were willing to pay was $408.
    • PEV intenders in our survey expressed strong interest in workplace, private, and public
      charging stations. The most popular choices for charging stations were the workplace
      (74%) and roadside charging stations (82%).

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