EV drivers are not going back to gas cars, global survey says

By Nick Godt Published December 14, 2024

ev drivers are not going back to gas cars global survey says screenshot — Screenshot Image used with permission by copyright holder

Nearly all current owners of electric vehicles (EVs) are either satisfied or very satisfied with the experience, and 92% of them plan to buy another EV, according to a survey by the Global EV Drivers Alliance.

The survey of 23,000 EV drivers worldwide found that only 1% would return to a petrol or diesel car, while 4% would opt for a plug-in hybrid (PHEV) if they had to replace their car.

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“These results confirm that EV drivers are highly satisfied with their choice and that reports of declining EV popularity are greatly exaggerated,” says Petter Haugneland, assistant secretary general of The Norwegian EV Association.

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Global EV sales, including hybrids and PHEVs, are expected to reach 16.26 million in 2024, a 25% increase from 2023, according to research firm TrendForce.

The survey also revealed that the top motivation of EV buyers, beyond environmental concerns, is that EVs have lower operating costs.

“This should serve as an eye-opener for policymakers worldwide,” says Ellen Hiep, board member of the Dutch Electric Vehicle Drivers Association. “While a vibrant electric vehicle market is crucial for reducing climate emissions from road transport, achieving this goal hinges on making EVs an even more affordable option for all.”

In the U.S., the incoming Trump administration plans to end the current $7,500 federal tax credit on the purchase or lease of an EV.

According to a J.D. Powers study, incentives have played a critical role in consumer decisions: Among premium brand EV owners, 64% say that incentives were a primary driver of their decision to purchase or lease their EV. Among mass-market EV owners, 49% selected their vehicles based on tax credits and incentives.

Incentive programs were cited as the top reason for purchase among 81% of Volkswagen buyers, 77% of Chevrolet buyers, and 72% of Tesla buyers. By contrast, only 32% of Hyundai buyers, 24% of Kia buyers, and 21% of Toyota buyers said incentives were a primary reason for their vehicle selection.

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Freelance reporter

Nick Godt has covered global business news on three continents for over 25 years.

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Robotaxi aside, a $25,000 EV would be pointless, Tesla CEO says

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Enthusiasts expecting to one day put their hands on the steering wheel of a $25,000 Tesla EV may feel like they’ve been taken for a ride.
CEO Elon Musk has just put a serious damper on those expectations, saying that outside of the driverless Robotaxi recently unveiled by Tesla, a regular $25,000 model would be “pointless” and “silly.”
During a conference call with investors, Musk was asked to clarify whether such a model was in the works.
"Basically, having a regular $25K model is pointless,” Musk said. “It would be silly. It would be completely at odds with what we believe." Tesla, Musk continued, has “been very clear that the future is autonomous.”
On October 10, Tesla unveiled its much-awaited robotaxi, called the Cybercab, an autonomous-driving EV with no steering wheel or pedals. The company also unveiled the Robovan, a much larger autonomous vehicle expected to carry people or goods.
The automaker said the Cybercab is expected to be produced in 2026 and cost $30,000. Musk, meanwhile, said that it would be a $25,000 car without specifying if that price tag included federal tax credits.
Tesla’s ambiguity about an affordable entry-level model has been going on for years. In 2020, Musk signaled that a $25,000 Tesla would arrive within three years. It was later reported that Tesla had ditched the idea, instead favoring the development of a robotaxi.
Language within Tesla’s latest financial report still hints that new affordable Tesla models are on the way. But Musk’s latest comments are putting a floor on just how affordable these would be. So far, Tesla’s Model 3 Rear-Wheel-Drive remains the company’s cheapest model, with a base price of $38,990.
Some rival EV makers, meanwhile, are entering the affordable space more aggressively in the U.S.
General Motors has already put out its Chevy Equinox EV at a price of $27,500, including federal tax credits. Volkswagen America says it plans to release an under-$35,000 EV in the U.S. by 2027.

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Hyundai, Kia say they are not in talks with Apple about EV

Hyundai and Kia have said they are not in discussions with Apple over the development of a so-called “Apple Car.”

Rumors have been swirling in recent weeks about Hyundai and sister-company Kia discussing a potential collaboration with Apple regarding an electric vehicle (EV) with advanced autonomous capabilities.

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Given existing tariffs and what’s in store from the Trump administration, you’d be forgiven for thinking the global race toward lower electric vehicle (EV) prices will not reach U.S. shores in 2025.

After all, Chinese manufacturers, who sell the least expensive EVs globally, have shelved plans to enter the U.S. market after 100% tariffs were imposed on China-made EVs in September.