Electric Vehicles in the U.S. Report From Auto Pacific
Electric Vehicles are the single most important automotive revolution of our time. The EV market is poised for significant growth in the coming years with about 110 new nameplates. In addition,
demand has increased 300% in the last 2 years!
“The Changing Landscape of Electric Vehicles in the U.S.” combines AutoPacific’s extensive consumer data and industry analysis team knowledge to create a comprehensive look at current and future EV consumers and the current and future U.S. market landscape.
Consumer Demand for EVs Jumps 300% in 2 Years; Market Poised for Growth
AutoPacific’s recently published study of electric vehicles (EVs) reveals consumer demand for EVs has doubled in each of the past two years, reaching 9% in 2021
NORTH TUSTIN, CA - September 16, 2021: Automotive consulting firm AutoPacific’s recently published study of electric vehicles (EVs) reveals consumer demand for EVs has doubled in each of the past two years, reaching 9% in 2021, up from 6% in 2020 and 3% in 2019. “The EV market is poised for significant growth in the coming years with about 110 new nameplates expected to be on sale by 2026,” says AutoPacific Vice President of Industry Analysis, Ed Kim. “In order for EVs to be successful and reach profitable sales volumes, consumer demand needs to increase and that’s exactly what it’s doing,” adds AutoPacific Vice President, Daniel Hall.
The EV study, “The Changing Landscape of Electric Vehicles in the U.S.” combines AutoPacific’s extensive consumer data and industry analysis team knowledge to create a comprehensive look at current and future EV consumers, the current and future U.S. market landscape, the challenges and issues facing EVs in the coming years, and insights into future feature demand to assist automakers and suppliers with product planning and marketing.
The study also reveals how loyal current EV owners are to the powertrain, with 75% of current EV owners intending to buy another EV for their next new vehicle, the highest powertrain repurchase intention in recent years. While EV powertrain loyalty is necessary for longevity, in a market currently comprised primarily of gasoline engine vehicles, it is the conquest of current gasoline owners that will ultimately move the market forward. 7% of current gasoline vehicle owners intend to purchase an EV next time. Put in perspective, 7% of new gasoline vehicle owners in 2021 equates to approximately 1M consumers intending to buy an EV.
AutoPacific is a future-oriented automotive marketing research and product-consulting firm providing clients with industry intelligence and syndicated data. Unique to AutoPacific’s forecast methodology is the ability to balance economic and industry factors with real-world insight gained from consumer data collected by AutoPacific’s annual survey of new vehicle buyers, the New Vehicle Satisfaction Study. The firm, founded in 1986, also conducts extensive proprietary research and consulting for auto manufacturers, distributors, marketers and suppliers worldwide. Company headquarters are in North Tustin, California, with affiliate offices in Michigan, Wisconsin and the Carolinas. Additional information can be found on AutoPacific's websites: http://www.autopacific.com and http://vehiclevoice.com.
AutoPacific’s Industry Analysis Team studies the history of the EV market, analyzes the current state of the EV market and products, and highlights the product, consumer, infrastructure, and regulatory issues facing EVs in the coming years. In addition, AutoPacific’s benchmark Sales Forecast Service (SFS) outlook is also provided for EV segments.
AutoPacific’s Market Research Team deep dives into owners and intenders from AutoPacific’s annual survey of over 89,000 New Vehicle Buyers* (N=1,026 EV owners, N=4,892 EV intenders). Using demographic and psychographic insights, as well as shopping behavior and future intentions, including demand for over 100 features, today’s owners and tomorrow’s buyers are defined.
Topics covered in depth include:
Who is today’s EV owner?
EV owner demographics
EV owner shopping behavior and attitudes
Will the future EV buyer be different?
Consumer demand for EVs
How does tomorrow’s EV intender differ from today’s owner?
Differences in mainstream brand EV vs luxury brand EV intenders
Differences in future EV car and SUV intenders vs their ICE counterparts
Building the next EV: Which vehicle attributes and features are needed to create a successful EV
AutoPacific’s volume outlook for EVs at the segment level
EV nameplate proliferation
Deep dive on issues surrounding EV range, infrastructure, performance, and battery technology
EV cycle plans through 2026 MY
Based on AutoPacific’s annual survey of over 89,000 New Vehicle Buyers (N=1,026 EV owners, N=4,892 EV intenders), the “The Changing Landscape of Electric Vehicles in the U.S.” is the most in-depth study to date on where the revolution stands and where we are going in the future.