🔋 Electric cars will continue to rise in the US (despite what some claim)

🔋 Electric cars will continue to rise in the US (despite what some claim)

Despite challenges such as inadequate charging infrastructure and high costs, 42 percent of respondents are considering buying an electric car as their next vehicle.

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  • A new survey from Bloomberg Intelligence indicates that electric vehicles' market penetration in the USA is likely to reach 25 percent by the end of the decade.
  • Despite challenges such as inadequate charging infrastructure and high costs, 42 percent of respondents are considering buying an electric car as their next vehicle.
  • The survey shows that current owners of electric vehicles are very loyal, with 93 percent stating they would choose an electric car again.

There are many opinions currently that claims electric cars have plateaued, especially in the US. However, Bloomberg Intelligence surveyed 1,000 potential car buyers in the US and found that interest in electric vehicles is high. Of those surveyed, 42 percent said they are considering purchasing an electric vehicle next time they buy a car.

Loyalty among existing electric car owners

The study also demonstrated strong loyalty among existing electric car owners. A full 93 percent of those who already own an electric car said they would choose an electric vehicle for their next car purchase. This loyalty to electric cars is significantly stronger compared to owners of gasoline-powered cars, where 34 percent express a desire to switch to an electric vehicle.

Tesla continues to lead with an impressive brand loyalty of 87 percent, surpassing non-electric manufacturers like Lexus and Toyota with 67 and 54 percent, respectively. This indicates strong brand value and customer satisfaction, which can play a significant role in the continued growth of the electric car market.

Electric cars have a bright future

According to Steve Man from Bloomberg Intelligence, even though there are significant challenges such as insufficient charging infrastructure and range anxiety, the potential growth for electric vehicles is strong thanks to plans from major manufacturers like Tesla, GM, and Stellantis to launch affordable models that can attract more buyers.

It is also worth noting that China, with an electric vehicle penetration of 23 percent, has a charging infrastructure nearly five times more extensive per electric vehicle compared to the USA, which highlights the need for further development of charging infrastructure to support the technology's impact on the American market.

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