U.S. males more likely to buy electric vehicles

Although overall electric vehicle demand remains relatively low, Tesla Motors Inc.’s current profit announcement and stock performance shows that electric vehicles still hold strong potential in the U.S. However, the recent financial woes of Fisker and Coda Automotive also point out that the market is still experiencing significant growing pains.

About 4.4 percent of U.S. adults said they were “very likely” to purchase an electric vehicle over the next year, according to a consumer survey by Zpryme.

Those from 18 to 24 years old were most likely to indicate that they were going to buy or lease an electric vehicle.

More males (5.5 percent) than females (3.3 percent) said they were “very likely” to buy or lease an electric vehicle. Compared to last month, this figure increased slightly among males and decreased slightly among females

Trends in the EV market

Fully 85.7 percent reported they were not likely to buy or lease such a vehicle, with 8.4 percent saying they were somewhat (3.2 percent) or very likely (4.1 percent) or already owned one (6.7 percent). The percentage of those somewhat or very likely to purchase an electric vehicle in April’s report (8.4 percent) is very close to those likely in May’s report (7.6 percent).

As seen over the last several months, more males (9.7 percent) than females (5.6 percent) reported that they were likely to buy or lease such a hybrid/EV. Nevertheless, both genders had a higher ownership rate in April over that seen in March 2013. More automobile manufacturers are offering more models in the U.S. marketplace, and that probably accounts for a substantial portion of the increase in ownership.

Generally, younger respondents had higher hybrid/EV ownership, with the most number of owners aged 18-24 (12.3 percent) and the least number of owners aged 45-54 (1.5 percent). However, the age group most likely to purchase a hybrid/EV was those 35-44 years old (13.2 percent).

Regionally, more respondents from the Midwest (8.6 percent) said they are likely to buy/lease a hybrid/EV than any other region. This is change from last month where respondents in the West were most likely to buy/lease an EV.

Zpryme’s Smart Grid Insights collected data via the internet from 1,001 U.S. adults during April of 2013. This is the third consecutive month the data have been tracked. Respondents were asked about their intent to buy/lease a plug-in hybrid or all-electric vehicle over the next 12 months.

The data were weighted by age, gender, and geographical region to reflect the national population of the U.S. Different groupings of respondents (gender, age range, and geographical region) were inspected for differences about their intent to buy/lease a plug-in hybrid or all-electric vehicle.

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