Venson

EV Priorities Shift In 2024

Price overtakes battery as the most important factor for drivers considering going electric in latest Venson survey.

Key Survey Findings:

If you were to buy an electric vehicle what factors would influence you most when choosing a vehicle? Rank from 1-10 with 10 being the most important. 2024 2021
Price 44% 41%
Free installation of an at-home charger 37% 36%
Charging time 35%

 

29%
Battery Range 33% 45%
Safety rating 33% 30%

In a rerun of the Venson Automotive Solutions ‘Attitudes to Electric Vehicles’ survey[1], 44% of drivers said that price will be the most influential factor if they switch to an electric vehicle (EV) this year. Battery range was top of the list of considerations for those surveyed in 2021 (45%) but this has now slipped down to fourth place.

Free installation of an at-home charger was placed as the second biggest priority this year (37%) followed by charging time (35%). Joint fourth place went to battery range and safety ratings, with 33% of drivers placing each of these as a deciding factor. In 2021, price came in second with 41% of votes, safety ratings in third place with 30% and charging time 29%.

When asked what further action the next government could take to encourage take-up of EVs, respondents to the 2024 survey believe financial incentives would bring the greatest benefit (44%), followed by increased investment in public charging points (26%) and more clean air zones in cities (12%). 11% would like to see new legislation introduced to encourage businesses to move to fully electric company car or commercial vehicle fleets in the next 5 years.

“SMMT data shows that sales of new and used EVs are soaring, with fleets accounting for a huge proportion of new sales” commented Simon Staton, Client Management Director at Venson Automotive Solutions. “It is perhaps unsurprising, given the extended cost of living crisis, that vehicle purchase price and charger installation are such significant considerations for potential EV buyers. With purse strings restricting buying decisions, financial incentives would understandably be gratefully received.

“Whilst businesses are playing a significant role in driving EV adoption, they could potentially propel the number of drivers opting for electric company cars further still by helping drivers fund home charger installation, through monthly salary deductions, loan or perhaps offering as a recruitment or retention incentive as well as ensuring vehicle options include models with the fastest charging times and greatest battery range.”

When it comes to what is changing drivers’ minds about switching to electric, three factors are working together to improve perceptions: improvements in charging infrastructure have increased confidence for 40%, 39% are encouraged by the positive impact EVs are having on reducing emissions and falling prices have helped change the minds of 38%. A wider range of vehicle options and greater confidence in owning and maintaining EVs have also helped for 20% and 19%, respectively.

Simon Stanton continued: “As we look ahead to the ban on new petrol and diesel car sales, and the net zero pledge, it is encouraging to see drivers’ attitudes shifting and confidence increasing. Education on the reality of living and working with an electric car can help encourage drivers to move to electric.”

To help fleet managers and company car drivers understand the costs and convenience of EVs and address key concerns that could be creating barriers to greater EV ownership, Venson offers a number of free whitepapers. Visit www.venson.com/White-Papers for more information.

[1] MaruHub survey of 300 drivers conducted in March 2021 and April 2024

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