A survey by global consulting firm GfK has found that 58% of respondents said the lack of charging stations was a major concern, deterring them from choosing a fully electric car. Additionally, 53% were disinterested in EVs due to their perceived expense and extended charging times, with concerns about potential resale value also influencing purchasing decisions, the report, titled Indian Automotive Industry Trends and Outlook Report, said.
It also said that concerns about the shorter driving range of EVs account for approximately 43% of consumer decisions to refrain from buying them. Although, consumers in India would consider full EVs if they can drive around 335 km when fully charged and expect 8 hours to fully charge the battery. Another crucial factor influencing 30% of prospective buyers is their apprehension about the durability, reliability, and overall quality of EVs.
While only 9% of surveyed urban Indian consumers currently own alternative fuel vehicles, 40% of them, however, see themselves purchasing an alternative fuel passenger vehicle in the near future. GfK said that this signals a potential paradigm shift towards more sustainable transportation options. “Electric vehicles emerge as the most coveted alternative engine. For more than 55% of respondents, the advanced technology of electric vehicles stands out as the primary motivator for those considering the fuel type for their next purchase,” the report said.
It said that this data is a crucial compass for industry stakeholders, guiding them through the complex landscape of evolving automobility trends, covering Electric Vehicles (EVs), brand innovation, and in-vehicle technologies. “The report underscores the evolving expectations of surveyed urban Indian consumers, envisioning not only safer and more enjoyable driving experiences with in-vehicle technology but also expressing a burgeoning curiosity towards hybrid vehicles,” Ravi Arya, APAC Lead for Brand and Advertising at GfK, an NIQ company said.
The report also said that 29% of surveyed consumers expressed interest in Plug-in Hybrid Electric Vehicles (PHEVs), while 25% showed interest in Fuel-cell Electric Vehicles (FCEVs). This data highlights the evolving preferences and growing enthusiasm among consumers for various alternative fuel vehicles. “This shift is propelled by factors such as advanced technology, fuel savings, environmental friendliness, low running costs (inclusive of tax benefits), extended driving range, established technology, and the accessibility of fast charger stations in local areas. These factors collectively contribute to the escalating inclination of individuals towards the purchase of electric vehicles (EVs),” Arya adds.
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