The EV & Hybrid Vehicle Wave 2 Insights Report is the second wave of tracking EV sentiments across the community following a similar study conducted in December 2022, collecting feedback from a sample of 2,000 Australian drivers (representative by age, gender and household location across Australia).
Among the survey findings are:
- The proportion of the market open to buying an EV has grown but represents only one in four buyers, as the strongest barrier to considering an EV remains the higher purchase price.
- Two thirds tell us they’re going to keep their current vehicle for longer than initially planned due to cost of living pressures.
- Three in five say that they’re less open to paying more for EVs due to cost of living pressures.
- Respondents open to buying an EV for their main vehicle has grown from 21% in 2022 to 25% in 2024.
- Consumers are more likely to be intending on replacing their main vehicle in the next 3 years (61%, up from 53%).
- The price premium consumers are willing to pay for an EV over a traditional fuel type is 8% up from 6%.
- More than two-thirds believe governments should be incentivising more customers to transition to EVs.
- 57% are not open to an EV due to perception that EVs cost too much, but this is down from 62%.
- 62% of respondents say their next purchase will be a SUV or a Ute.