Almost 40% of European High-End Buyers Are Looking to Purchase Their First Electric Vehicle in the Next 12 Months–If the Product Experience Is Right
A New Wave of High-End Buyers Is Ready to Make the Change From Internal Combustion Engines If Their Needs and Concerns Are AddressedCharging Experience and Range Are the Biggest Hurdles to AdoptionCharging and Range Concerns Significantly Lower for Those Who Have Driven a Battery Electric VehicleSafety, Comfort, and Sustainability Are the Key Purchasing Criteria, along with the Digital and Tech ExperienceBOSTON—After a slowdown in the European battery electric vehicle market, a new wave of high-end buyers shows potential to drive a recovery. Thirty-eight percent of high-end consumers looking at a car purchase of €80,000 or more within the next year are considering a battery electric vehicle. Among these prospective buyers, 64% would choose an electric vehicle over an internal combustion engine alternative if the models offered the same specifications. However, to capture this growing segment, electric vehicle manufacturers must prioritize addressing customer needs and alleviating key concerns. These are among the findings of a new Boston Consulting Group (BCG) study, Europe’s High-End Buyers Rethink EV Ownership, released today.