Accenture: Politics, Product, Convenience and Car Culture Slowing Inevitable EV Growth
A new multi-continent survey by global consulting firm Accenture shows that a growing number of consumers accept that electric vehicles will dominate the future of mobility.
There is no question that the future of EV growth is muddier than it was six months ago now that Donald Trump has retaken the White House, having won over at least some voters with his plan to roll back the tailpipe emission regulations driving automakers to transition from internal-combustion engines to electric mobility, and his intent to withdraw again from the Paris Accords will further muddy the waters globally.
A new Accenture study, based on replies from 6,000 people in the U.S., Europe, Germany, Italy, France, China and Japan shows, however, that about half of consumers believe the future of mobility is electric (with the pace of adoption being the wild card) and almost 60% project that they will be driving electric within 10 years.
In 2023, nearly 14 million EVs were sold globally. That’s a 35% year-on-year increase, but it’s down from 55% in 2022 and 121% in 2021.
Looking at the market globally is useful for production planning, but sales analysis must go country to country, market to market, and there are important differences and gaps. In China, 65% of drivers say they believe the future belongs to electric cars and 44% of non-EV owners plan on buying a battery-powered car in the next five years. At the same time, German and French respondents are more skeptical, with 37% and 36% of drivers, respectively, saying they’re all for EVs.
In an attempt to offer automakers some guidance toward marketing and production planning, Accenture’s analysts broke down the EV consumer market into psychographic composites that the global consulting firm calls “mindsonas” – which go beyond than traditional persona-based analyses by “capturing a life-centric understanding of customers’ mindsets as human beings, not just their attitudes towards a product or brand.”
Strategists, affluent and urban, are already inclined toward high-end EVs, valuing luxury, innovation and status. They prioritize design, prestige and environmental credentials, seeking features that showcase their success to others.
Individualists, often younger urban drivers, are self-focused and prefer EVs for their modern technology and personalization options. They seek fun and standout design, valuing features that fit their active, independent lifestyles.
Carers prioritize social and environmental well-being over materialism, seeking smaller, sustainable vehicles. They view cars as practical tools, not status symbols, and are cautious about EV costs, charging infrastructure and overall reliability.
Conservatives value security, routine and familiar environments. They prefer reliable, midsize cars and are hesitant about EVs, waiting for proven reliability and long-term performance before considering a shift from traditional vehicles.
Frugal customers prioritize simplicity over luxury and see price as the key driver in their decision making. Typically older and rural, they prefer smaller, practical cars and typically haven’t yet found suitable EVs. As late adopters, they focus on cost-effective mobility over advanced features.
To reach fence-sitters or those delaying an EV purchase, automakers are proceeding on the premise that consumers want the same product attributes in EVs as they do in ICE vehicles. “To succeed in the EV era, we have to focus on what the consumer wants, not regulations,” says General Motors President Mark Reuss. “It’s that simple.”
As to what people considering their first EV are looking for, we’ve long passed the early adopter stage. That’s because the majority of respondents said their priorities are reliability (83%), safety (82%) and value for money (82%). These are similar criteria, notes Accenture, as people who look for an ICE as their next purchase – in other words, sustainability is no longer a priority for the next wave of buyers, as was the case with early enthusiasts.
Charging infrastructure is still a key concern no matter the country. The survey found 70% of drivers worldwide expect to be able to charge their car whenever it’s parked, whether at home or in public spaces like supermarkets. And 81% of drivers worldwide rank battery size and driving range as one of the most critical factors when purchasing an EV.
European consumers’ doubts about an all-electric future for mobility stem from several key factors, reflecting practical, economic and infrastructural concerns. Although Europe has made progress in expanding charging networks, many regions still lack adequate, reliable infrastructure, particularly in rural and less populated areas. Consumers worry about "range anxiety," where they may not find charging stations when needed, especially for long-distance travel.
Charging times, even with fast chargers, still require a longer wait than refueling a conventional car, making EVs less appealing to some.
And car culture is a factor. In countries with a strong car culture, such as the U.S., Germany and Italy, the attachment to traditional engine sounds, power and driving experience is substantial. The shift to EVs feels like a cultural loss to some, who see the change as removing an emotional element from driving.
EV manufacturers initially thrived by appealing to Strategists and Individualists who are drawn to luxury, status and cutting-edge technology. But these early adopters only represent a limited portion of the market.
Tomorrow’s mainstream customers – such as Carers, Conservatives and Frugal drivers – prioritize different factors, says Accenture. They’re more concerned with reliability, affordability and how well EVs integrate into their everyday lives. Issues including charging infrastructure, high upfront costs and potential lifestyle disruptions continue to deter many from making the transition.
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