Price point key factor for choosing EV cars: Survey

Mumbai, March 31: The survey, based on the response of 40,000 people from across 319 districts, found that more than half of the existing or prospective car owners are willing to buy an electric car if it is available in the `810 lakh price range.

Only 5 per cent of those looking to buy a fourwheeler in the country are likely to buy an electric car this year, according to the survey.

Car sales in India crossed 4 million units last year while 72,321 electric four-wheelers were registered, according to the survey conducted by LocalCircles.

If the 5 per cent of the existing/prospective car owners, as found in the survey, buy one car each and the annual car sales maintains 2023 numbers, it indicates a demand of 2,00,000 electric cars this year, LocalCircles said.

Of the 40,000 respondents who participated in the survey, 42 per cent are from tier-1 cities, 34 per cent from tier 2 and the remaining 24 per cent from tier-3, 4 and rural areas, it said.

About 21 per cent of the respondents flagged “not enough electric car charging stations in my area”, while 12 per cent said they “don’t know enough about these vehicles”, according

THE DEMAND for EVs continues to centre on the consumer perception that fuel costs will be significantly lower than ICE cars, outweighing the concern for climate change.

to the survey, explaining the relatively low interest for e-four-wheelers.

About 7 per cent of respondents indicated not enough choices of models within budget, while 21 per cent felt e-cars are more expensive as compared to regular cars, the survey said.

The India findings from “2023 Global Automotive Consumer Study” by Deloitte noted that the demand for EVs continues to centre on the consumer perception that fuel costs will be significantly lower than ICE cars, outweighing the concern for climate change, it said.

Experts say people want to buy electric cars for the driving experience also as there is no engine sound and very little noise, vibrations, and harshness, which makes cabin very quiet and comfortable, LocalCircles stated.

Automobile experts point out that while operating costs of an electric car are much less than a petrol version.