According to new findings, a significant number of electric vehicle (EV) owners in the United States are considering switching back to gas-powered vehicles.
In “McKinsey & Co.’s Mobility Consumer Pulse for 2024” the study surveyed nearly 37,000 consumers worldwide, including 4,100 in the United States, and included a mix of EV owners as well as people who own internal-combustion engine (ICE) vehicles.
The study found that 46% of EV owners in the U.S. said they were “very” likely to switch back to owning a gas-powered vehicle in their next purchase. This is compared to a global average of 29% of EV owners who said they would likely switch back to an internal combustion engine
Nearly Half Of US EV Drivers Consider Switching Back To Gas Vehicles: McKinsey Study https://t.co/He6NyQQQXL
— zerohedge (@zerohedge) June 21, 2024
Here are some key findings:
1. A study by McKinsey & Co. found that 46% of EV owners in the US surveyed said they would likely switch back to a gas-powered vehicle. This is compared to a global average of 29% of EV owners who said they would consider switching back.
2. The main reason cited for wanting to switch back is the lack of available charging infrastructure. 35% of respondents said this was a major factor.
3. Other reasons include the high cost of EV ownership (34%), the impact on driving patterns on long trips (32%), and the inability to charge at home (24%).
4. The study also found that 18% of EV owners in California between 2015-2019 switched back to a gas-powered vehicle. For plug-in hybrid owners, this number was 20%.
5. The reasons for switching back include dissatisfaction with the convenience of charging, having other vehicles in the household that are less efficient, not having level 2 (240-volt) charging at home, having fewer household vehicles, and not being male.
6. The study found that Tesla owners are the least likely to switch back to gas, while Fiat 500e owners are much more likely to switch back.
7. The lack of reliable Level 2 charging at home was a major factor leading to EV “discontinuance,” as the researchers called it.
8. The study also found that EV owners were 53% less likely to buy another EV if they did not have access to convenient, at-home charging.
These findings suggest that the lack of charging infrastructure and the inconvenience of charging are major barriers to EV adoption and are driving some current EV owners back to gas-powered vehicles.