Electric Vehicles – has the consumer love affair grown old?

In the USA the electric vehicle press is dominated by upbeat stories around EV ownership and the joys of gas (petrol) free driving.  This however is no longer the full story…

Recent research shows that of those EV owners who are now trading in their EV – only 45% are buying another EV,  which is down from 60% three years ago.  Maybe peoples financial situations change and they simply can’t afford an EV ? But that can’t be the main reason because fully 23% of those trading in their EV went on to buy an SUV!

Electric Vehicles

For Sale – one careful owner…..

Now I might expect EV owners to switch model or even manufacturer but to go back to gas or diesel quite surprised me and I started to wonder why I was so surprised.

The answer I think lies in my opening remark….the EV media machine supported by a large base of proactive owners creates a distorted view about EV adoption and the passion of EV ownership in general.

What we might have assumed was a sea change in buying behavior looks like being something more temporary.  Are lower gas prices and the promise of long term oil price stability the cause of this decline in the desirability of EV’s? – Perhaps – I don’t know the answer but it warrants investigation.

New EV sales are down too, in the first quarter of 2015 EV’s and Hybrids accounted for just 2.7% of new car sales…compared to 3.3% of new car sales for the same period last year.

“September I’ll remember –  A love once new has now grown old.”

Adrian G Stewart

Adrian G Stewart






Adrian G Stewart

About adriangstewart

Senior executive with expert knowledge of all aspects of strategic marketing and a track record of creating sustainable competitive advantage. International management and leadership experience in both B2B and B2C organizations. Specialties:Strategic marketing management including; new product development, product life cycle management, business relationship management, market segmentation, marketing information systems, e-commerce and social media marketing.
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