• Half of global car buyers plan to choose internal combustion engines, a 13-point jump as electric vehicle demand softens
• Range anxiety, charging gaps and geopolitics fuel growing hesitation towards battery electric vehicles (BEV)
• Consumers prioritize essential connected features, with nearly four in ten citing high service costs as a barrier
Global car buyers are putting the brakes on adoption of electric vehicles, with many shifting back to internal combustion engines (ICEs) and reassessing electric vehicle ownership, according to the new EY Mobility Consumer Index (MCI), a global survey examining sentiment and buying intent across major automotive markets.
Constantin M. Gall, EY Global Aerospace, Defense and Mobility Leader, says:
“Consumers are weighing the realities of policy shifts, cost pressures and uneven charging infrastructure. The long-term trend appears to be a shift away from a purely electric (‘E-only’) approach toward a more diversified future for vehicle powertrains, with different vehicle technologies serving different customer needs.
We are also seeing a more pragmatic, less ideological policy discussion. Policymakers are returning to a fact-based approach, allowing the market to do what it does best: identify the right solutions for different customers.” (....)