Demand Flat for Electric and Hybrid Vehicles; Price and Range Top Barriers to Consideration

November 10th, 2015 by Fiedler Group

While the publicity of electric automobile maker, Tesla, may suggest electric vehicle adoption is on the rise, a Harris Poll finds differently.

The survey conducted in May 2015 found traditional hybrid vehicle consideration levels to be identical to 2013 levels (48%), with lower percentage levels of consideration for plug-in vehicles (29%) or pure electric vehicles (21%).

What’s more, the 2015 sales figures indicate 3 percent of total vehicle sales in the nation are electric vehicles or hybrid vehicles — a level unchanged since 2012.

An appropriate comparison — in 2012, the U.S. population was 314.1 million, while the U.S. Census Bureau forecasts the 2015 population to be 321.3 million.

So it would be misleading to believe the true volume of electric or hybrid vehicles was stagnant.

Among those groups more likely to consider an electric or hybrid vehicle are millennial drivers or those who travel over 50 miles in an average day.

Though the volume of vehicles may have increased since 2012, the price and range of electric and hybrid vehicles against comparable vehicles remain top barriers for consideration.

To learn more about Fiedler Group’s expertise in the alternative energy sector, please contact us today.