Buyers Misunderstand EVs And The Used EV Market.
San Francisco December 13, 2017; The buyer intelligence firm Autolist.com today released data comparing buyer perception of used EVs to market data, finding misalignment between the two.
The analysis is based on 1,249 vehicle owners and 17,738 used vehicles. In the survey (from November 2017), buyers on average thought that a quality used EV would cost $5,000 more than an equivalent gas powered vehicle. However, live market data tells a different story. As an example, a used 2015 Nissan LEAF is in fact, on average, less expensive than either a Honda Civic or a Toyota Corolla and has fewer miles.
In addition, buyers were asked about their non-range related concerns buying a used EV. Overall, 41% of buyers cited “reliability” as their principle concern with buying a used EV. However, in a review of owner reliability ratings, the 2015 Nissan LEAF was reported to be 6.3% more reliable than the average, outpacing the Honda Civic, Toyota Corolla and Ford Focus. Additionally, the Chevrolet Volt was reported to be 2.5% more reliable than average.
Together, the study points to a lack of alignment between buyer perceptions of used EVs, and the reality of buying and owning an EV.
We just released a study today based on a user survey that shows buyers misunderstand EVs and the used EV market.
The Autolist.com study combined a user survey of 1,249 vehicle owners and market data from 17,738 used vehicles. Here are some key findings.
Public Perception: The average buyer thinks a quality used Electric Vehicle costs $5,000 more than an equivalent gas vehicle
The Facts: A used 2015 Nissan LEAF is cheaper than its gas class-competitors (the equivalent Honda Civic or Toyota Corolla)
Public Perception: Aside from vehicle range, reliability is the biggest concern of prospective EV buyers (41% of buyers are most concerned about EV)
The Facts: According to user ratings, the 2015 Nissan LEAF and Chevrolet Volt have better than average reliability, with the Nissan LEAF scoring better than the Honda Civic and the Toyota Corolla