Why Do Young People Want an EV? Because They’re ‘Cool’ (WardsAuto)
Millennials are most eager to go electric, followed by Gen Z, according to a new survey.
A decade or so ago, doomsayers claimed personal vehicle ownership would tank, largely because young people of the time (Millennials) weren’t interested in buying vehicles.
Well, scratch that item off the endangered list.
Today’s Americans might not have a love affair with cars like they supposedly did in earlier times. But they sure need and want them.
That’s one of the findings of the 2022 State of the American Driver Report from a company called Jerry. It has an app that connects consumers with car insurers.
Among its survey standouts is that 80% of American drivers consider a vehicle as essential to daily and weekly activities.
But wait. Weren’t ride-hailing services expected to take over the transportation world? Who would need to buy a car if you can use the likes of Uber and Lyft?
“One of the most interesting results of the survey is that 50% of Americans have never used a ride-hailing app, even though ride-hailing feels ubiquitous,” Lakshmi Iyengar, a Jerry data scientist, tells WardsAuto.
Why’s that? First off, such services typically aren’t available outside of urban areas. (Midwesterners are most likely to never have used a ride-hailing app.) Try summoning Uber from a farm town.
Moreover, the COVID pandemic has made many people apprehensive about getting into a ride-hailing car that’s had multiple occupancies throughout the day.
American consumer feelings about electric vehicles and autonomous vehicles were other survey topics.
A third of those polled never expect to drive an EV in their lifetime, while half expect to within 10 years.
However, many people with an interest in buying an EV aren’t necessarily out to save the planet. Fuel savings motivate them the most.
According to the survey, Millennials (ages 25-40) are most eager to go electric, followed by Gen Z (ages 16-24).
Boomers (ages 57-75) are the least likely to show an interest in buying an EV. Yet, they were the only generation to first cite concern for the environment as a purchase reason. Gen Z’s primary interest is because EVs are “cool.”
Topping the list, 47% of polled Millennials are interested in buying an EV as their next vehicle. Gen Z followed at 41%, Gen X at 38% and Baby Boomers at 28%. Men were more interested (43%) compared with women (36%).
“The EV results are really interesting,” Iyengar says. “EVs are getting close to a tipping point. As EVs scale in the next 10-15 years, we’ll see lower prices and cost benefits play out.”
(photo credit: Ford)
