Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders
Electric vehicles and autonomous self-driving technologies took center stage at the Consumer Electronics Show (CES) in Las Vegas, which wrapped up yesterday. Here’s some quick data and commentary from Edmunds - the leading car shopping and information platform - to help you as you consider your consumer electronics options. Please don’t hesitate to reach out to PR@Edmunds.com if you have any questions or would like to schedule an interview with one of their experts.
Several automakers shined their spotlights on EV technology at CES, but are consumers really ready to embrace an electrified future? A few stats to consider:
Pure EV market share continued to decline in 2016, accounting for 0.37 percent of all new car sales in the U.S. last year (through November), down from 0.39 percent in 2015 and 0.41 percent in 2014.
Electric vehicles are struggling to maintain loyalty among current owners. According to Edmunds data, only 39 percent of people who traded in an electric-powered vehicle (including pure EVs and plug-in hybrid cars) this year went on to purchase another electric-powered vehicle. Interestingly, about 33 percent of electric-powered trade-ins this year instead went toward a new truck or SUV.
California is still far and away the biggest adopter of EVs in the United States, with more than half of EVs (54.9 percent) purchased in the state this year. Florida (4.8 percent) and Washington (4.5 percent) round out the top three states where EVs are popular.
In 2015, Georgia held the number two spot for EV sales in the U.S. at 12.7 percent, but this year has dropped out of the top ten due to the state EV tax credit ending.
“Low gas prices and expiring subsidies have created a significant slump in EV sales, and until range and refuel time is equal or better to gasoline-powered cars, it’s going to be hard to convince car shoppers to pay a premium for them,” says Edmunds Sr. Consumer Advice Editor Ronald Montoya.
The race towards autonomous vehicles shows no signs of slowing, with automakers, suppliers and tech giants continuing to aggressively push forward the development of self-driving cars...
According to a recent study conducted by Edmunds of over 3,000 U.S. adults:
Half (51 percent) of consumers think that all cars will be autonomous in the future
Only 39 percent of men and women said they would buy an autonomous vehicle if they were available today
64 percent of men and women feel that autonomous cars are dangerous with only 39 percent saying that they trust autonomous cars
“We’ll start to see more confidence and trust in self-driving cars once the technology can work seamlessly and in tandem with our culture,” says Montoya. “The good news is that the technology is nearly here, but there are legal and regulatory questions that still need to be answered before we can expect to see these cars adopted by the masses.”
Percentage of car shoppers who say the following features would be “very important” to have on their next car:
Adaptive Cruise Control: 35 percent
Blind-spot Monitoring: 32 percent
Collision Avoidance: 25 percent
Percentage of car shoppers who say the following features would be “very important” to have on their next car if money was no object:
Adaptive Cruise Control: 51 percent
Blind-spot Monitoring: 53 percent
Collision Avoidance: 52 percent
“As we’ve seen when EVs and Hybrids first hit the market, consumers need to feel that they’re getting something in return for spending more money on their vehicle, whether that be savings on gas or a HOV lane sticker,” said Montoya. “While there is an appetite for it, the benefit of autonomous features might not be enough to justify the premium price to consumers, which is why we may have to wait until these are standard features for the cars to hit mass adoption.”