Electric Luxury Cars Survey: Luxury Car Owners More Likely to Show Interest in Electric Cars

Cadillac is reportedly looking to get into the electric car market. Along with the Chevy Volt, General Motors hopes the Cadillac ELR will help bring electric cars to the forefront of American transportation. But are Americans interested in owning electric cars? And more specifically, are they interested in owning electric luxury cars?

electric luxury cars

Electric Cars

In Ask Your Target Market’s latest survey, just 1% of respondents said they currently own an electric vehicle. 28% said they would definitely like to own one at some point. 38% said they would probably consider buying one. 22% said they would probably not be interested in an electric car. And 11% said they are definitely not interested.

When asked why they do not currently own an electric vehicle, 65% said it’s because they believe the available cars are too expensive. 33% said they are not confident in the technology yet. 17% said they’re simply not interested in owning electric vehicles. 13% said they don’t have enough power. And 11% said they don’t own one for other reasons, such as not currently being in the market for a car.

Car Owners

Currently, 34% of consumers said they own a mid-size car. 19% said they own a compact car. 18% own an SUV. 9% own a truck. 6% own luxury cars. 6% own vans. And 16% don’t currently own any type of vehicle. Of those who currently own luxury cars, 42% said they would definitely be interested in owning an electric vehicle at some point. These luxury car owners were less likely than the survey panel as a whole to think electric cars are too expensive, but more likely to think they don’t have enough power and to not be confident in the technology just yet.

Buying Factors

In general, 64% of Americans said that fuel economy is very important to them when considering buying a vehicle. 24% said that fuel economy is somewhat important. 3% said it is not very important. And another 3% said that fuel economy is not important at all. Of those who currently own luxury cars, 46% said that fuel economy is very important to them, and another 46% said that fuel economy is somewhat important to them.

On the other hand, just 12% of overall respondents said that luxury details are very important to them when considering buying a vehicle. 35% said that luxury details are somewhat important. 31% said they are not very important. And 16% said that luxury details are not important at all.

You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.

Photo Credit: Cadillac Converj Concept Car from Flickr

What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.

Results were collected on October 17 via AYTM’s online survey panel.

ABOUT THE AUTHOR: Anne Pilon
Anne Pilon brings 3 years experience to AYTM as a blogger and journalist. She has a degree in journalism and marketing communications from Columbia College in Chicago and enjoys writing about business, marketing, social media, and art.