Plug-in hybrid electric vehicles (PHEVs) are one of the most highly anticipated new product categories of recent years, and more consumers are interested in them, according to a recent study.
Promising dramatically improved fuel economy over standard internal combustion engines, PHEVs are expected to drive significant benefits in the form of reduced carbon emissions and lesser dependence on foreign oil. A new survey from Pike Research reports that prospective consumer interest in the category is solid, with 48 percent of respondents stating that they would be “extremely” or “very” interested in purchasing a PHEV with a 40-mile range on a single charge.
“Plug-in hybrids match the driving requirements of most consumers we surveyed,” says managing director Clint Wheelock. “Eighty-two percent of respondents drive 40 miles or less per day, with an average daily driving distance of 27 miles.”
Other key findings of the survey are as follows:
• 85 percent of consumers stated that improved fuel efficiency would be an important factor when choosing their next vehicle.
• 65 percent of survey respondents interested in PHEVs expressed a willingness to pay a premium price, over and above the price of a standard gasoline vehicle, with an average premium of 12 percent.
• Consumers indicated that the availability of workplace, private, and public vehicle charging stations in their local area would be very important.
• 79 percent of consumers would be interested in investing in a fast-charging outlet for their home; however, willingness to pay is out of line with industry expectations.
Pike Research’s report, “Electric Vehicle Consumer Survey”, analyzes results from a web-based survey of 1,041 U.S. consumers. The report includes a detailed analysis of consumer demand and willingness to pay for PHEVs and their associated vehicle charging infrastructure. Segmentation analysis includes an examination of demand within different demographic and behavioral groups. An Executive Summary of the report is available for free download at www.pikeresearch.com.
