Despite the automotive industry’s growing commitment to electric mobility, a recent study by Deloitte reveals a surprising discrepancy: consumers show a renewed preference for cars with combustion engines. The report carried out by the prestigious consulting and auditor company, based on the opinion of 27,000 users from 26 countries, highlights the loss of interest in the electric car in some of the most important markets in the world such as the United States and Germany.
The results of the macro survey, which includes a thousand Spanish consumers, coincide with a slight decrease in sales of electric cars in Europe in December 2023. In response to this trend, some brands have reacted quickly by reducing the prices of certain zero emission models. They seek to encourage the pace of sales with discounts that, in Spain, in the case of Volkswagen, reach up to 8,000 euros, an amount to which we must add the Government aid through the Moves III plan subsidies.
The study focuses once again on the three factors that determine users’ preference for cars with internal combustion engines. Limited autonomy, charging time and the poor public charging network in many countries are determining aspects that influence consumer choice.
Likewise, although the Deloitte study does not mention it, electric cars depreciate more quickly than vehicles with traditional engines, according to a study by Ganvam (National Association of Sellers of Motor Vehicles, Repairs and Spare Parts) and the German company DAT appraisal.
Now, the Global Automotive Consumer Study 2024 that Deloitte has released offers different readings depending on the place where the data was obtained to prepare the report. For example, price is the main criterion for choosing the brand of the next car in developed markets such as the United States (59%), Japan (58%) and Germany (55%) while in India (65%) and Southeast Asia (62%) value product quality above all else.
But there is one fact that draws our attention. In certain parts of the world, and especially in prosperous markets, there is a recovery in the popularity of cars with internal combustion engines. In the United States, 67% of those surveyed prefer a car with a traditional engine than an electric one when in 2023 they would only be 58%. The same happens in Southeast Asia (52%, compared to 50% in 2023) and Germany (49% compared to 45% in 2023).
Despite the opinion of German motorists, Deloitte assures in the report that “the slowdown in the manufacture of electric vehicles is not yet very visible in Europe.” It stands out that the production of hybrid technology models grew by 37% compared to the previous year, and that of pure electric models, by 30%, according to data from the European Automobile Manufacturers Association.
However, the authors of the study also emphasize that in December 2023 the production rate dropped “possibly influenced by the German market, where a change in trend towards cars with an internal combustion engine is noticeable.” On the other hand, in Romania, sales of electric cars increased by more than 50% in the first 11 months of 2023 and reached a market share of more than 10%. But the evolution is uncertain, with the Government cutting the amount of aid by up to half.
On the other hand, vehicle performance tops the list of criteria for buyers in China (53%) and South Korea (55%), according to the study. Consumers who opt for an electric car are convinced by the lower charging costs, in countries such as the United States (66%), Japan (62%) or Germany (50%), as well as by environmental concerns and lower transportation costs. maintenance in India (68% and 56%, respectively).
The Deloitte report reveals that the majority of consumers surveyed are concerned about the environmental impact of batteries. This perception is very high especially in Asian countries -India (89%), Southeast Asia (77%), Korea (69%), China (66%) and Japan (57%)-, although it is also true for users from Germany (64%) and the United States (62%), indicating to industry players that they must implement sustainable practices for the use and recycling of these components.
