Study: Consumers Believe EVs are More Expensive

A new study from Ipsos has found that one of the biggest concerns with purchasing electric vehicles for consumers seems to be the cost of maintaining one.

A new study from Ipsos has found that one of the biggest concerns with purchasing electric vehicles for consumers seems to be the cost of maintaining one, according to Green Car Reports.

Though a study done in 2022 reported 49% of respondents expressed interest in purchasing an electric vehicle–a 36% increase from 2021–this year, no such increase was seen, with only 48% of respondents saying they were considering an EV.

The leading issue for EV skeptics was battery life, followed by recharging time and driving range. Other concerns were related to cost, with battery pack replacement cost and affordability coming next on the list. 

Though EVs have been shown to have a lower cost of ownership, such as the Zero Emission Transportation Association’s findings in 2022 of gas vehicles being up to six times more expensive, many respondents in the Ipsos study were concerned about EVs being more expensive to maintain: only 35% surveyed agreed that an EV would have a lower cost of ownership.

“Without proper dealer education, buyers will falsely believe they must suffer higher up-front and ongoing costs to switch to BEVs,” Ipsos analysts stated.

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Ratchet+Wrench Staff Reporters

The Ratchet+Wrench staff reporters have a combined two-plus decades of journalism and mechanical repair experience.
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