Survey Says Americans Still Prefer Gasoline-Powered Vehicles

A recent KPMG study found that Americans still favor traditional gasoline-powered vehicles over hybrid (HEV) and electric vehicles (EV) even when the price and features are identical. This preference is highlighted in the inaugural KPMG American Perspectives Survey, which gathered opinions from 1,100 adults nationwide and 400 adults from major cities like Atlanta, Boston, Chicago, New York, and San Francisco.

According to the survey, only 20% of respondents would choose an EV over a gasoline-powered vehicle or an HEV. This finding comes when the demand for EVs is declining globally, prompting major automakers such as Mercedes, Ford, and General Motors (GM) to reconsider their EV strategies.

One significant aspect the study uncovered is the discrepancy in expectations regarding EV charging times during road trips. A substantial 60% of U.S. consumers said they want charging times to be 20 minutes or less. However, only 41% of auto industry executives believe consumers are willing to wait that long, indicating a gap between consumer expectations and industry perceptions.

The survey also delved into the features consumers value in vehicles. Safety, WiFi, and a charging locator were prioritized over self-driving features and entertainment options. This suggests that while advanced technologies are appealing, practicality and reliability remain key factors for most buyers.

The results of this survey provide crucial insights into the American automotive market, especially as it navigates the transition towards more sustainable options. Despite advancements in EV technology and growing environmental awareness, many consumers still lean towards the familiarity and convenience of gasoline-powered cars.

Several factors may influence this preference, including concerns about charging infrastructure, charging times, and the initial costs of EVs and HEVs. Moreover, the recent global slowdown in the EV market could contribute to consumers’ and manufacturers’ cautious approaches.

Stellantis has also adjusted its EV plans for the North American market in recent developments. The Jeep® brand is considering producing an HEV version of its new Recon EV, and Fiat plans to introduce an HEV version of its slow-selling 500e, which recently entered the North American market. These moves reflect a broader industry trend of balancing the push for EVs with continued investment in hybrid technology, acknowledging that consumer preferences and market realities still favor a more gradual transition from gasoline-powered vehicles.

Source: KPMG via Reuters