According to a new study by J.D. Power, the 2019 Mobility Confidence Index [Study fueled by SurveyMonkey Audience the score for battery-electric vehicles is 55 out a 100.
- Mobility Confidence Index is 55 for battery-electric vehicles: With an overall score of 55, consumers have a neutral level of confidence about the future of battery-electric vehicles. Attributes scoring lowest include likelihood of purchasing an electric vehicle (39); reliability of electric compared to gas-powered vehicles (49); and ability to stay within budget compared to gas, diesel or hybrid vehicles (55). Most consumers, regardless of age, believe there are positive environmental effects of electric vehicles.
- Full speed ahead—for small market share: Both consumers and industry experts recognize it will be well over a decade before electric vehicles equal gas-powered vehicles in sales volume. Experts also predict it will be at least five years until battery-electric vehicles’ market share reaches 10%.
- Challenges to increasing battery-electric vehicle acceptance: Consumer affordability and trust remain among the top challenges for electric vehicle adoption. In addition, infrastructure and battery concerns (cost, range and supply capacity) are critical challenges which must be addressed.
- Advantages and disadvantages of battery-electric vehicles: More than half (61%) of respondents say battery-electric vehicles are better for the environment and 48% believe the cost of charging compared with the cost of gas will be advantageous. However, 64% are concerned about the availability of charging stations and 59% are concerned about range. More than three-fourths (77%) expect electric vehicles to have a driving range of 300 miles or more. Nearly three-fourths (74%) are only willing to wait 30 minutes or less to charge a vehicle to travel about 200 miles.
- Experience affects purchase consideration: Two-thirds (68%) of consumers say they have no experience with battery-electric vehicles, meaning they have never been in one. Among those who have owned or leased a battery-electric vehicle, 75% say they would consider repurchasing a similar vehicle. Among those who have never been in a battery-electric vehicle, only 40% said they would consider purchasing or leasing one. Universally, 78% say that tax subsidies or credits would factor into their purchase decision.
New Owner for J.D. Power
Thoma Bravo, LLC, a leading private equity investment firm, today announced that it has reached an agreement to acquire J.D. Power, a global leader in data analytics and consumer intelligence. The transaction is expected to close by year end, subject to customary closing conditions. Upon closing, Thoma Bravo plans to partner with J.D. Power’s existing team in the ongoing expansion of the company, with a focus on continued development of enhanced industry insights, advanced analytics and innovative new offerings. As part of the transaction J.D. Power’s existing management team and employee owners will be rolling over their ownership interest in the company.