mmarshall

Well, one more sign that the current EV fad may be past its peak and/or fading.....almost half of owners in the U.S. say they would prefer an ICE next time.



https://gmauthority.com/blog/2024/06...-to-ice-study/

Although the electric vehicle market has seen significant growth over the past few years, there are signs that the exponential growth will slow down, with automakers like General Motors reducing electric vehicle sales and production targets. In fact, it appears as though even some EV owners themselves are yearning for a return to ICE-powered models.

According to a report from Automotive News, consulting firm McKinsey & Co. found that 46 percent of U.S. respondents who currently own an electric vehicle are likely to buy an ICE-powered vehicle as their next car purchase, with charging concerns standing out as the largest hindrance toward the gradual transition to all-electric vehicles.

Beyond this, McKinsey & Co. also found that 29 percent of electric vehicle owners worldwide are likely to switch to gasoline vehicles, citing the same concerns.



“I didn’t expect that,” McKinsey & Co. Center for Future Mobility Leader Philipp Kampshoff remarked. “I thought, ‘Once an EV buyer, always an EV buyer.'”

“OEMs and suppliers now have to invest in multiple technologies,” McKinsey & Co. Automotive and Assembly Practice Global Co-Leader Kevin Laczkowski stated. “This is the ultimate uncertainty right now, like almost never before.”

Interestingly, electric vehicle owners appear to be experiencing buyer’s remorse due to inadequate public charging infrastructure, high ownership costs, and limitations with long trips.



McKinsey & Co. found a few other notable pieces, including:

• 21 percent of global respondents have no interest in ever switching to an all-electric vehicle. Of those, 33 percent cited charging concerns.
• Said charging concerns are exacerbated by range-related expectations, where minimum range expectations have grown from 270 miles in 2022 to 291.4 miles today.

As background on the survey itself, McKinsey & Co. polled more than 30,000 consumers in 15 countries and asked them roughly 200 questions related to an all-electric future. This pool of respondents collectively comprised more than 80 percent of global sales volume. Findings were issued on June 12th, 2024.

BayeauxLex

geko29

The source article (the GM authority piece just rehashes an Automotive News one) is paywalled, but has this visible at the top:



The headline hasn't changed, but the subhead now reads:


I guess we'll have to wait and see what the real number is.

bitkahuna

iTrader: (20)

funny thing is, even if they decide to 'go back to ICE' they're going to find that things have changed, lol

bitkahuna

iTrader: (20)

"EV fad" huh? millions sold and still selling. EV charging infrastructure still growing. new models coming out.

now some 'traditional' car companies may not know how to make money with EVs (or even build a decent one, ahem, toyota/lexus), but they're here.

the new tesla model 3 is excellent. you might go test drive one. (and yes, i know you've tested one in the past, but the new one is MUCH improved).

Allen K

iTrader: (4)

Unpaywalled link: https://archive.is/mzB6h

Not much additional context in the article itself. Would be interesting to know how the question was framed

Bob04

I bet a lot look at PHEV. For most people, all the goodness of both.

geko29

So if we take the numbers at face value and just invert the headline one so it matches the "all buyers" one:

38% of consumers who currently own neither a PHEV nor BEV plan to buy one as their next vehicle
54% of consumers who currently own a BEV plan to buy another one for their next vehicle.

Doesn't sound like the sky is falling to me. I would have expected the second number to be higher, but there could be a lot of factors at play there. One that comes immediately to mind is multi-car households where an EV is the most recent purchase. The next car due for replacement is an ICE, and they're not ready to be an EV-only household. This would be even more likely if that other vehicle is a pickup that is used for towing, as EV pickups (except for the not-really-released Silverado EV) are not there yet.

Allen K

iTrader: (4)

​​​​​​​If we were to replace the Ody, we'd probably get a Sienna. I love the id.Buzz, but sizewise it doesn't compare. We bought a deckbox from Costco last week. It just barely fit in the Ody and would not have fit in the Rivian.

I do like the Crown Signia more than I thought I would too.

JeffKeryk

Perspective customers have asked me about our Model 3 since day 1. The 1st thing I ask them is, "How ya gonna charge?" You would be surprised by the look on their their faces.
Even today, as Silicon Valley is flooded with EVs, I had a long conversation with a friend who wants to buy our Model 3 when we get the new one. I told him a 110v plug nets you 4 mph. He didn't know how to respond. When I asked him about the service panel at his home, he had no idea.

Talk about the cart before the horse... All good.

bowser

Let's do our own survey here: CL members - will you replace your current EV with an ICE?
Bowser - No

swajames

In addition to the paper being quoted but curiously unavailable and the clickbait headlines staying the same even after they were realized to be in error, McKinsey doesn’t do anything unless someone paid for it.

So if this report does exist, it’s in the product of a paid engagement and its conclusions are in pursuit of a paid agenda.

AMIRZA786

Hell freaking NO 🤣 It would be like me renting a Mustang GT when I travel to our San Antonio office, then my company putting me on a budget and saying all I could rent now is a Nissan Versa . I would just take Uber at that point 🤣🤣🤣🤣

Pure paid propaganda

Bob04

I might if there were an ICE car similar in layout as my Plaid that was faster. Right now, I don't think there is anything out there that meets criteria. Definitely NOT going all EV anytime soon unless a lot of things change.

I am considering another purchase that I was considering a few years ago. 23+ C8 convertible. But that would be 5 cars, just for me. I woke up Tuesday morning and rolled over to look at my wife. She opened her eyes and the first thing she said to me was "I'm sick of your damn car lot outside", so I think it is going to be a tough sell.

AMIRZA786

My wife used to hate the Polestar when I first got it because I used to purposely floor it, scaring the crap out of her. She was terrified of the instant torque, she thought I was going to crash into the cars in front of me. Now that's gotten old, my wife is used to the instant torque, and drives an EV herself now.

The other thing is your part of town isn't exactly EV friendly. I've heard a lot anti EV talk coming from certain parts of the country. When I talk to colleagues in our Texas office, the myths that run in their heads and the stuff they say about EV's is just downright head nodding.

Anyway, personally I can never go back to ICE EXCEPT maybe a weekend car like an M3 Competition. Unfortunately, I don't have that type of disposable income. Plus I have 5 cars currently parked on my property