According to a Deloitte survey, over 43% of Indian auto purchasers cite the length of time it takes to charge an electric vehicle as one of their top worries about EVs. Deloitte’s 2024 Global Automotive Consumer Study indicates that range anxiety, cost, charging time, and battery safety are the main concerns of Indian consumers. In India, 42% of automobile buyers cite a lack of infrastructure for charging electric vehicles in public as their top worry, while 40% draw attention to battery safety issues.
Global markets have very different expectations about the driving range of battery electric vehicles. According to a survey, just 40% of consumers in India and 67% of consumers in Germany, respectively, anticipate a battery electric vehicle (BEV) to have a range of more than 400 kilometers before they consider it as a feasible alternative for their next vehicle.
When it comes to brands, consumers in established markets are more brand loyal than those in developing nations. According to the report, over eight out of ten Indian car owners plan to switch brands when they make their next purchase.
What does the Deloitte survey say about electric vehicle sales?
Deloitte claims that the present decarbonization timelines may be in danger due to slowing EV pace. In certain markets, there may be a decline in consumer interest in electric vehicles due to high borrowing rates and sticker prices. The analysis reveals that a number of other obstacles still exist, such as range anxiety, charging time, and the availability of charging infrastructure, even in the face of automaker price reductions and government incentives intended to make them more accessible.
However, in certain regions where surveys were conducted, public interest in Internal Combustion Engine (ICE) automobiles is increasing as long as affordability concerns remain a major factor in future aspirations.
In established countries like Germany, Japan, and the US, consumers prioritize price when choosing a car brand; in other international markets, consumers are more concerned with product quality (India) and vehicle performance (China, South Korea, and South Korea).
When selecting their next automobile, shoppers take into account not only the brand’s origins but also whether the vehicle is made locally. 37% of Indian shoppers want their next car to be made in the country. In comparison to consumers polled in developed countries like the US, Japan, and Germany, consumers in developing markets like India, China, and Southeast Asia are also more prepared to pay for connected car services.
In order to learn more about customer views on a range of topics affecting the automotive industry, such as consumer interest in electric cars (EVs), brand perceptions, and linked technology adoption, Deloitte conducted surveys with over 27,000 consumers across 26 countries.
In the majority of markets where this poll was conducted, consumers’ primary motivation for purchasing an electrified car is a strong desire to reduce their operating expenses, which takes precedence over concerns about climate change.
According to the report, most consumers are willing to wait longer than 10 minutes to refill, therefore it may be excessive to assume that EV charge times must match fossil fuel fill-up times. In most markets, people prefer the familiarity and convenience of using their credit or debit cards to pay for public EV charging.
