- Global EV Adoption Slowdown: Accenture Urges Shift in Focus
- Psychographic Profiles and EV Adoption Trends
- Resetting Strategy: The Key to Boosting EV Sales
Accenture’s latest study highlights a shift in focus needed for automakers to drive global EV sales growth over the next decade. The study reveals that while 57% of drivers are projected to switch to EVs in the next 10 years, 43% of non-EV drivers are already considering an EV for their next vehicle purchase. Moreover, nearly half of drivers believe in the future dominance of electric vehicles, based on a survey spanning key global markets.
The study notes a slowdown in the rate of EV sales growth, with a 35% year-on-year increase in 2023 compared to higher growth rates in previous years. To address this, Accenture suggests a strategic reset to attract mainstream buyers instead of solely focusing on tech-savvy early adopters.
2024 Tesla Model S. – Courtesy of Tesla, Inc.
Instead of tech features, Accenture recommends that automakers prioritize factors like reliability, safety, and affordability, which are key considerations for the majority of car buyers. The study also delves into psychographic profiles of potential EV buyers, highlighting different preferences and priorities.
2025 Volkswagen ID.4
Recent studies echo similar findings on the lag in EV interest among consumers, emphasizing the need for a shift in approach to attract a wider customer base. By focusing on practicality and cost-effectiveness, automakers can pave the way for increased EV adoption among mainstream auto buyers.
Reflecting on past trends, it becomes evident that aligning EV offerings with the needs and preferences of mainstream shoppers is crucial for driving significant growth in EV sales. This strategic realignment is pivotal for automakers looking to capitalize on the evolving landscape of electric vehicle adoption.