THE EV EMBRACED

Electric Vehicle Consumer Survey; Consumer Demand, Price Sensitivity, Driving Profiles, Attitudes, and Preferences for Plug-in Electric Vehicles and EV Charging Infrastructure
John Gartner, Dave Hurst and Clint Wheelock, 4Q 2010 (Pike Research)

"The first highway-capable plug-in electric vehicles (PEVs) for the mass market will be available for sale by the end of 2010…[including] the battery electric Nissan Leaf and the plug-in hybrid Chevrolet Volt…[They] will enable drivers to reduce both gasoline expenses and greenhouse gas emissions…

"…Nearly three dozen plug-in electric models are expected to be introduced by 2012. Although 2010 shipments in North America will be limited to less than 4,500, Pike Research anticipates the category will grow swiftly, with a CAGR of 136% between 2010 and 2015."

click to enlarge

"…Pike Research’s [summer 2010] survey found that 83% of respondents drive 40 miles or less per day [an average of 26.6 miles], and therefore would be well served by a plug-in hybrid electric vehicle (PHEV) with a 40-mile range…Nearly all plug-in vehicles have been developed to exceed consumers’ daily driving distance by providing a minimum of 30 miles of all-electric range…[except for the 13-mile range of the] Toyota Prius Plug-in Hybrid Vehicle (PHV)…

"…81% of respondents stated that improved fuel efficiency would be an important
factor when purchasing their next vehicle…[but] consumers may have a difficult time achieving positive return on investment (ROI), given the premium price of PEVs and relatively low gasoline…90% of panelists [said] they spend $200 or less per
month on gasoline…Fundamental interest in PEVs was strong…44% [said] they would be “extremely” or “very” interested in a plug-in hybrid or all electric vehicle with a range of 40 to 100 miles and an electricity cost equivalent of $0.75 per gallon…"

Other research supports the practicality of the 40-mile range. (click to enlarge)

"Pike Research’s price sensitivity analysis…indicates that for a traditional internal combustion engine (ICE) vehicle that would ordinarily cost $20,000, the optimal price point of a comparable PEV would be $23,750 – an 18.75% price premium…significantly less than automakers’ intended prices…[R]espondents did not state a clear preference for any one configuration…[P]anelists were most likely to choose Ford (51%) and Honda (50%), two automakers who do not currently have PEVs on the market. Chevrolet (45%) and Nissan (33%), the two manufacturers launching models in 2010, ranked third and fifth…

"…63% of survey respondents indicated that they would be “extremely”or “very” interested in upgrading to a residential “fast charging” outlet, which would utilize the same amount of electricity but reduce charging times from 5 hours to 1 hour…[but pricing will] be an issue…[T]he first generation of residential fast charging outlets will cost between $500 and $800…[O]nly 20% of panelists stated that they would be willing to pay $500 or more…Workplace and private charging stations were each important for 72% of respondents, and public charge points ranked as the third priority."