The results may look surprising, but even from big firms, things aren’t always as they seem
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- A new study has revealed that most Americans still want an ICE for their next vehicle.
- The demand for EVs and PHEVs varies between countries but remains low in many markets.
- More than half of US car buyers are also considering switching to another brand.
Last year, global sales of EVs and PHEVs soared to new heights, exceeding 17 million units for the first time. This represented a massive 25.6% increase over the previous year. However, a new study suggests that for the vast majority of car buyers in major markets around the world, very few buyers are interested in buying an EV or a PHEV as their next vehicle. Things may not be as they seem, though – but more on that later.
The study comes from Deloitte, a juggernaut of the advisory and consulting industry. It quizzed respondents about what kind of powertrain they’d prefer for their next vehicle. While the results varied between markets, gasoline and diesel-powered ICE models were by far the most popular. In most markets other than China, EVs and PHEVs were low on shopping lists.
First, The Results
In the United States, just 5% of people said they’re looking for an EV as their next vehicle, while 6% said the powertrain preference is a PHEV. By comparison, 62% of respondents said their preference is an ICE model while 20% may choose a regular hybrid. The results were similar in other markets. Across South East Asia, 53% would prefer an ICE, followed by 17% considering a hybrid, 13% pondering a PHEV, and 11% thinking about an EV.
Read: EV And PHEV Sales Surged 26% Globally In 2024, But The Party’s Over In Europe
In Germany, the same 53% of respondents want an ICE as their next vehicle, compared to just 9% for PHEVs and 14% for EVs. Things were different in China, where 38% said their preference is an ICE, followed by 16% in favor of a hybrid, 17% considering a PHEV, and a significant 27% leaning towards an EV.
Numbers Don’t Lie – But Do They Tell The Whole Truth?
While these results may be surprising, given the highly increased demand for EVs in 2024, as mentioned in the title, there’s a huge caveat as far as this study is concerned: the sample size was very, very small. In the US, just 937 people were quizzed about their powertrain preference and in China, only 939 people responded to the question. As such, it’s hard to make a sweeping declaration about just how many people do or don’t want an EV or PHEV as their next vehicle.
That said, the study did reveal some intriguing tidbits. For instance, brand loyalty appears to be on the decline. In the US, 54% of vehicle owners plan to switch to another brand for their next car. This figure is even more dramatic in China, where a whopping 76% are ready to jump ship. Globally, Deloitte notes that brand defection is on the rise, signaling a shift in consumer priorities.
The study also touched on the often polarizing topic of autonomous vehicles, and it seems skepticism is still alive and well. In the US, 52% of respondents expressed concerns about robotaxi services operating in their neighborhoods, while 64% were uneasy about autonomous commercial vehicles cruising down highways. Despite all the buzz surrounding self-driving tech, it’s clear that many consumers aren’t ready to hand over the wheel just yet.
