EV ownership satisfaction among highest in the auto industry
Report reveals that 82 percent of EV owners plan to buy another electric car in the future
Electric vehicle adoption may only be around five percent in the U.S. but early adopters have become loyal to the battery powered technology. A report released last week by JD Power, reveals that 82 percent of EV owners plan to buy another electric car in the future.
Among the key findings in the survey, most decided which EV to purchase based on range. This makes sense, as range anxiety is often what keeps many consumers from switching to electric vehicles.
“Even though most owners drive less than the stated range of their vehicle’s battery, they still want to know that the actual battery range is close to the stated battery range,” Brent Gruber, senior director of global automotive at JD Power stated in the report. “It’s still about peace of mind.”
Additionally, charging locations played a key role is how satisfied EV owners are with their cars. Charging infrastructure still lacks in certain areas of the country, so EV ownership satisfaction was higher in regions where there are more charging stations, such as the West.
Moreover, Tesla owners experienced a higher level of satisfaction, party due to the company’s Supercharger stations, which includes over 20,000 charging stations spread throughout the U.S.
Cost of EV ownership was also a factor when it came to overall satisfaction. “Owners of both premium and mass market EVs agree on one reason for choosing electrification over internal combustion engines (ICE): the expected lower operating costs of an electric vehicle,” notes the report. “Cost of ownership is a key driver in the purchase of an EV that typically has fewer parts to maintain, has less frequent service requirements and results in lower fuel costs than ICE vehicles.”
What’s trending today
⬆️ Robinhood blocks purchase of GameStop, AMC, and BlackBerry stock