Over Half Of EV Buyers Are Purchasing An ICE As Their Next Vehicle

The intriguing study shows that several EV owners are not exclusively married to the thought of EVs

An intriguing study has discovered that it is tough to preserve EV owners exclusively committed to electric cars. Indeed, with the exception of Tesla owners, practically half of EV-owning households will buy an internal combustion car subsequent.

A study from S&ampP Global Mobility reveals that the fuel sort loyalty price for mainstream brand EV households was sitting at 52.1% by way of July this year. While some might contemplate that sobering news, the study notes that its information does not imply that roughly half of EVs are going to be replaced by a combustion car. Instead, a household’s subsequent buy could be a replacement for a diverse car they currently have.

The study discovered that 63.two% of these who personal a Nissan EV will buy an additional EV as their subsequent car. This placed the Japanese carmaker just ahead of Chevrolet which scored a loyalty price of 60.six%. When seeking at person models, S&ampP Global Mobility discovered that 37.three% of Ford Mustang Mach-E households bought an EV as their subsequent car, although 45.eight% went with one thing that had a gas engine, several of which have been other Ford truck and SUV models with ICE and hybrid powertrains.

Over Half Of EV Buyers Are Purchasing An ICE As Their Next Vehicle

Data also reveals that 60.7% of Chevrolet Bolt owners jump into an additional EV as their subsequent automobile and these didn’t normally opt for a Chevrolet SUV or truck. EV loyalty prices amongst luxury car purchasers have jumped considerably more than the previous 3 years, nearing or at times even eclipsing the 60% mark.

Read: Study Suggests EVs Could Account For Up To 86% Of All New Vehicle Sales By 2030

For instance, 56.six% of Mercedes-Benz EV purchasers will get an additional EV as their subsequent car, a enormous enhance from 24.three% in Q2 2020. EV loyalty prices at Jaguar have also jumped from 25% to 56.five% although Audi is up from 25.five% to 50.1%, Porsche has gone from 23.three% to 36.eight%, and marketplace-leader Tesla has elevated from 51.eight% to 76.7%. Interestingly, EV loyalty amongst BMW EV owners has dropped from 46.six% to 45.9%.

“The OEMs are spending huge amounts of money to develop EVs,” associate director for loyalty options and business evaluation at S&ampP Global Mobility, Tom Libby stated. “So the last thing they want is for an EV owner to go back to ICE.”