EV Future Faces Headwinds

By Staff Writer August 16, 2022 291

CDK Global Inc., an auto retail software provider and a Brookfield portfolio company, released results of a survey that found significant challenges to reaching an all-electric future.
With electric vehicle (EV) sales on the rise, gas-powered vehicles still make up most sales, and at less than 5% of the market, sales of EVs would have to double every two years to get to a full-electric fleet by 2032. To better understand the barriers to adoption and how to help accelerate the shift to EVs, CDK surveyed more than 1,100 consumers who recently purchased a vehicle or intend to purchase a vehicle in the next two years.
CDK’s study found that while EV owners are extremely satisfied with a net promoter score (NPS) of 69, they still have concerns about the amount of time it took to charge their vehicle (69%), the availability of charging networks (60%), and vehicle range (56%).
For non-EV shoppers, nearly half (46%) reported they do not plan to buy an EV at any point in the future, which reveals a need for dealers to better educate shoppers on EV options, while continuing to sell and service gas-powered vehicles through the next decade and beyond.
The survey also revealed several insights for dealers looking to stay ahead of the curve with their customers, such as:
· 26% of shoppers who bought or planned to buy a gas-powered vehicle considered an EV—with 88% pointing to the dealer’s sales representative as introducing the option.
· EV buyers listed advanced technology as the top purchase motivator (25%), with a desire to reduce impact on the environment coming in second (23%).
· 40% of EV shoppers postponed buying an EV until they had their own garage due to concerns around easy and convenient access to charging facilities.
· Four out of five EV owners (81%) plan to get their vehicles serviced at the dealer. And while oil changes are the primary worry for owners of gas-powered vehicles, EV owners report the need for heath checks on batteries (61%), tire changes (44%) and high-voltage cable inspection (40%).
“While the headlines shout about the inevitability of an all-EV future, there is still a lot of work we must do to pave the way, while continuing to take care of consumer needs in the meantime,” said Barb Edson, chief marketing officer, CDK Global.

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Last modified on Monday, 22 August 2022 11:10