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US car buyers believe 80% of vehicles will be EVs by 2025

Car buyers in the US believe that 80% of the vehicles travelling on their roads will be electric (EVs) as soon as 2025, a survey published by Assurant has revealed.

The global provider of risk management solutions, which now owns the UK’s Warranty Group, surveyed over 1,400 consumers and found that their expectations were that the shift to AFVs would be far quicker than many experts predict.

But Assurant’s research also indicated that physical dealerships had a place in the retail process for some time to come.

Rich Green president, automotive, Assurant Europe, which exhibited at last Thursday’s Automotive Management Live 2018 trade show at the NEC in Birmingham, said: “Our own recent research showed that online sites are a key resource for almost all those we surveyed who were considering buying or leasing a new car, with dealer websites and third-party sites routinely consulted.

“Approximately 38% of consumers who do their research online think it’s the best method of research. However, more than half of the consumers surveyed visited multiple physical dealerships, showing that this touchpoint still plays an important role in the buying decision.”

Despite believing electric vehicles will be well in the majority by 2025, only 1% of consumers Assurant surveyed owned an electric vehicle.

Their main reasons for not buying an electric vehicle include range anxiety, cost and a lack of infrastructure.

Green added: “Electric vehicles are an exciting technology and will be transformative for the automotive industry and consumers alike. Along with all the work being done with autonomous vehicles, it’s a dynamic time in this sector.

“Of the consumers we surveyed, 80% think most vehicles (80%) on the road will be fully autonomous in 2053. Our roads and communities are going to look very different in less time than we think and we remain committed to creating tools and services that enable a more connected lifestyle and keep our consumers’ lives running smoothly.”

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