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For more than a decade, Deloitte has been exploring automotive consumer trends impacting a rapidly evolving global mobility ecosystem.

1. Is slowing EV momentum putting current regulatory timelines in jeopardy?

High interest rates and elevated sticker prices may be causing consumer interest in EVs to soften in some markets. Despite automaker price cuts and government incentives designed to make them more affordable, a variety of other challenges continue to stand in the way, including range anxiety, charging time, and availability of charging infrastructure.

Preference for type of engine in next vehicle- Consumer interest in ICE vehicles is rebounding in some markets surveyed as affordability concerns continue to weigh heavily on forward intentions.




Top reasons to choose an EV as next vehicle-In most markets surveyed, the main reason consumers intend to acquire an electrified vehicle stems from a strong desire to lower their operating costs – outstripping the concern for global climate change.




Expecting to charge electrified vehicle most often at…- Building public charging capacity is still needed to address consumer concerns over range anxiety, but the reality of day-to-day usage means most people will charge their EVs at home.



Public locations that the consumers would prefer to charge their EV when they are away from their home-Even though consumers want to maximize their convenience by having a public EV charger readily available
whenever they need it, more strategic oversight may be needed to maximize the return on billions of dollars being invested in building out public charging networks in many global markets.




Most preferred way to pay for public EV charging- When it comes to paying for public EV charging, consumers in most markets prefer the familiarity and convenience of using their credit/debit cards. On the other
hand, the level of consumer interest in using loyalty points or pre-paid subscription plans is comparatively low.



Expected wait time to charge an EV at public charging stations from empty to 80%- An assumption that EV charge times need to be on par with fossil fuel fill-ups may be somewhat overstated as surveyed consumers in most markets are willing to wait longer than 10 minutes to refuel.



Consumer expectations on BEV driving range- Expectations for BEV driving range vary significantly by global markets surveyed. Only 40% of surveyed consumers in India expect more than 400 kms, whereas 67% of consumers in Germany expect the same as a prerequisite to consider a BEV as a viable option for their next vehicle.



Percentage of consumers concerned about the end-to-end environmental impact of an EV battery- A majority of consumers surveyed are concerned about the “cradle to grave” environmental impact of an EV
battery, requiring industry stakeholders to implement sustainable practices across the entire battery life cycle.



Greatest concern regarding all-battery-powered electric vehicles- When it comes BEVs, surveyed consumers are generally most concerned about charging time, range anxiety, cost, and battery safety.



Entity that should be responsible for collecting, storing, and recycling EV batteries after their useful lives



2. Future vehicle intentions

Percentage of consumers switching to another brand of vehicle- Consumers surveyed in developed markets are more loyal to brands than those surveyed in developing economies. In fact, nearly 8 in 10 vehicle owners in India are likely to shift to a different brand for their next purchase.



Most important reasons for switching to another brand of vehicle



Most important factors driving the choice of brand for next vehicle



Level of agreement on various aspects of the purchase experience (% somewhat/strongly agree)



Importance of a vehicle brand committing to sustainable practices- Consumer reaction to whether it’s important for vehicle brands to have a strong commitment to sustainable manufacturing practices can be very different depending on the individual market surveyed.



Preferred organizations for next vehicle purchase



Importance of next vehicle to be manufactured locally



As OEMs look at every potential profit pool going forward, surveyed consumers in several markets are signaling a significant level of interest in manufacturer-branded insurance products based on the perception that it will be convenient and cost effective.



3. Connectivity

Level of consumer interest in connected vehicle features (% very/somewhat interested)



Willingness to pay extra for connectivity features



Most trusted entity for managing connected vehicle data



4. Vehicle subscriptions

Interest in giving up vehicle ownership in favor of vehicle subscription (% very/somewhat interested) 18- to 34-year-old respondents- Against the backdrop of uncertain economic conditions causing concern for financial capacity, a significant number of younger consumers surveyed in many markets are at least somewhat interested in giving up vehicle ownership altogether in favor of a subscription model.



Important characteristics of a vehicle subscription



Main concerns regarding vehicle subscription services



About the study:
The 2024 study includes ~27,000 consumer responses from 26 countries around the world.


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