CarTrade Tech’s Survey Reveals Customer's Perception & Attitude Towards EVs

CarTrade Tech’s Mobility Outlook released the Indian Automotive Consumer Canvas (IACC) study, assessing customers’ awareness and perception towards electric mobility in India. The report was released during the second edition of Mobility Outlook’s electric two-wheeler (e2W) summit.

The survey targeted age groups between 18 – 56 years and is based on a sample size of 68,029 respondents entailing 2W, 4W owners or intenders, across Tiers 1, 2 & 3 cities.

Favourable government policies and increasing consumer consciousness about the environment, coupled with spiralling fuel prices, have resulted in a steady growth of interest in electric vehicles in India. Moreover, EV manufacturers have pushed the envelope by introducing improved and exciting models catapulting both demand and confidence.

Penchant for Purchase

Covid-19 has played a major role in influencing buying decisions previously. With growing consciousness, a whopping 83 per cent 2W respondents and 69 per cent 4W respondents are keen to adopt EVs as their primary vehicle. 10 per cent of the 2W respondents & 6 per cent of 4W respondents have indicated a willingness to purchase an electric car as their next vehicle. In terms of satisfying consumer needs, 62 per cent of 2W respondents and 55 per cent of 4W respondents think EVs can replace regular vehicles. The ’responsible for the environment’ mindset coupled with a conviction for EV usage has resulted in a high potential among 33 per cent of 2W respondents and 32 per cent of 4W respondents to buy an EV within the next one year.

Financial Flexibility

Over three-quarters (77 per cent) of 2W respondents and 71 per cent of 4W respondents implied an increased awareness of the economics of EV ownership, while nearly 58 per cent of 2W respondents and 42 per cent of 4W respondents are willing to stretch their budget by Rs. 100,000 over petrol or diesel vehicles to make an EV purchase. Interestingly, with skyrocketing fuel prices posing as a propeller, over 20 per cent of 4W respondents and 8 per cent of 2W respondents said they are willing to spend upwards of Rs. 250,000 over ICE models to purchase an electric vehicle. 

Key Determinants and Deterrents

A healthy 61 per cent of 2W respondents and 57 per cent of 4W respondents said they would prefer owning electric vehicles because of lower running & maintenance costs. One of the key questions the survey asked was what customers felt were the main disadvantages of EVs. Interestingly, among 2W respondents, 16 per cent opted for safety concerns, while 19 per cent said limited charging infrastructure was a major disadvantage. 29 per cent of 2W respondents and 26 per cent of 4W respondents consider higher purchase price of an EV as the biggest disadvantage. Among 4W respondents, 21 per cent felt limited charging infrastructure and 16 per cent felt long recharging time were the other major barriers to EV adoption.

Safety First

The next couple of years would likely be a defining period for the electric mobility segment given the government support to the sector under FAME – II. 

However, manufacturers, OEMs and distributors will have to focus on efforts to break mental barriers among consumers as the report also reflects anxiety pertaining to safety and health of the vehicles. Attributing looming concerns over EV related fire accidents across the country, 45 per cent of 2W respondents and 46 per cent of 4W respondents said they read articles on EVs catching fire, making media mentions the single biggest reason triggering fear and resistance. Having said that, a positive 50 per cent of 2W respondents and 43 per cent of 4W respondents think EVs are safe.

The Top Choices

In terms of types of EVs, 6-9 per cent preferred Hybrid electric car, 10 per cent preferred electric car among 4W respondents while among 2W respondents, 9 per cent opted for Hybrid Electric (HEV) and10 per cent opted for Battery Electric (BEV). 34 per cent of the respondents expect a 400 km range on a full charge. 

While 36 per cent of 2W respondents and 39 per cent of 4W respondents among the time-weary generation prefer 1 hour as the most appropriate charging duration, the others have expressed a reasonable demand of 2-4 hours for achieving a full charge in an electric vehicle. Swappable batteries as a mode of charging received less preference among respondents, with 42 per cent of 2W respondents and 40 per cent of 4W respondents preferring home charging for EVs.