Vehicle cost has carried over from 2019 as one of the biggest concerns buyers have about EVs, AlixPartners said.
Their survey found 70 percent of U.S. consumers would be willing to buy an EV if they were at price parity with ICE vehicles. Right now, just 10 percent of U.S. consumers are willing to pay a 25 percent price premium to make the switch, according to the survey.
That last piece is key, said Mark Wakefield, global co-leader of AlixPartners’ Automotive and Industrial Practice.
“It was interesting that the price premium really didn’t have a lot of takers,” Wakefield told Automotive News. “There’s a need to get closer to a price comparison, not a [total cost of ownership] comparison, to get the majority of the population really interested. That’s a longer journey than the magical $100 per kilowatt hour that people talk about.”
About 33 percent of survey participants reported annual income of under $50,000.
