Electric Vehicles Survey: Hybrid Vehicles Slightly More Popular

Though still not widely adopted by U.S. consumers, electric vehicles are getting more prevalent in the automotive industry. And hybrid vehicles give automotive consumers even more potential eco-friendly vehicle options. An infographic from Car Leasing Made Simple suggests that the electric vehicle market is in for even more growth if the current trend continues. So how many car buyers are likely to purchase electric or hybrid vehicles for their next purchase? We asked 1,000 respondents their thoughts on the electric car market.

electric vehicles

Electric Vehicles

In Ask Your Target Market’s latest survey, just 5% of respondents said that they currently own an electric or hybrid vehicle. Toyota, Honda, Nissan and Lexus were the most popular vehicle brands mentioned by those who currently own electric or hybrid vehicles.

Looking forward, 17% of respondents said that they would be at least somewhat likely to purchase an electric vehicle for their next car purchase. Toyota, Honda, Chevy, Ford, Tesla and Nissan were the most popular brands that those respondents said they would consider for their electric car purchase. Those who are interested in electric vehicles are also more likely to currently own one, so they’re probably at least somewhat satisfied with the experience so far.

Car Buyers

However, there are other options out there for people who are interested in eco-friendly vehicles but aren’t ready to jump into a fully electric model. 20% of overall respondents said that they would be at least somewhat likely to purchase a hybrid vehicle the next time they buy a car. The most popular brands mentioned by those respondents were Toyota, Honda, Ford, Nissan, Chevy and Hyundai. It’s worth noting, though, that there was quite a bit of overlap between those who are likely to purchase electric vehicles and those who are likely to purchase hybrids. So it seems that many people are simply open to either option at this point.

In general, it seems that cost and reliability are the most important factors for car buyers. 22% of respondents find cost to be an important factor when it comes to vehicle purchases. 21% said that reliability is important. 15% value comfort highly. 14% care about brand name. 12% value style. 9% think that eco-friendly features are important when considering a vehicle purchase. And 8% care about high tech features. Those who are at least somewhat interested in electric vehicles were slightly more likely to value eco-friendly features, but it still wasn’t considered as important as things like cost, reliability, comfort and brand name.

Growing Popularity

Looking forward, it seems that even some of those who aren’t looking to purchase hybrid or electric vehicles right away are expecting the market to grow. 49% of overall respondents said that they expect electric vehicles to increase in popularity over the next five years. And 52% think that hybrid vehicles are likely to gain popularity in that time frame.

Key Takeaways

So it does seem that the electric vehicle market is poised for more steady growth. Hybrid vehicles were even more popular among potential car buyers, but those markets do seem to see a lot of the same consumers. So for car companies that want to set their vehicles apart, it may be beneficial to position them against other electric vehicles and hybrids. In addition, it seems that playing up those vehicles as eco-friendly may not be the most effective route. Even the customers who like the idea of electric vehicles value things like cost and reliability more highly. So using those factors to position electric or hybrid brands against the competition could be a good step.

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: Electric Vehicle on charge by Paul Wilkinson under CC BY 2.0

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 July 10 via AYTM’s online survey panel.

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.