Tech-Savvy 20-Somethings Will Drive Electromobility Growth, says Deloitte Study
In the fourth annual survey of its kind, the firm asked 1,500 Gen Y, Gen X and baby boomer consumers in the United States, 250 in China and 300 in Western Europe what they wanted from a vehicle.
Gen Y respondents, aged between 19 and 31 years, proved most receptive to the new technology, with fuel efficiency the main attraction. But price remains a sticking point – nearly half of the young consumers surveyed said they’d pay $300 extra per-mpg for a hybrid vehicle, which is under the £350 real-world price premium.
By comparison, 37% said they would prefer to drive a conventionally powered car.
Deloitte said the results showed a potentially large shift in buying habits because, at 80 million people, Gen Y represents a substantial portion of consumers in the United States. This year, a quarter of all cars sold in the country will be bought by 19 to 31 year olds, rising to 40% over the next decade.
Craig Giffi, vice chairman and automotive practice leader at Deloitte LLP, said: ‘Gen Y consumers view hybrid technology as proven and reliable. Almost six in 10 Gen Y respondents prefer a hybrid over any other type of vehicle, while a mere 2 in 100 prefer a pure battery electric vehicle – demonstrating that Gen Y is familiar and comfortable with hybrid technology, but not so much with battery-only technology.’For more of the latest industry news, click here.