A recent survey by McKinsey and Co. reveals that nearly half of American electric vehicle (EV) owners are considering switching back to gas-powered cars. The survey, which included responses from multiple countries such as the U.S., China, and Germany, found that 46% of American EV owners and 29% of global EV owners want to return to internal combustion engine (ICE) vehicles. This trend surprises experts, who previously believed that once consumers switched to EVs, they would remain loyal. The primary reasons cited include inadequate charging infrastructure, high costs, difficulty with long trips, and stress associated with charging.
The survey also highlighted broader consumer sentiments towards EVs and ICE vehicles. While 38% of ICE vehicle drivers are considering a future EV purchase, a significant portion remain hesitant. In the U.S., 44% of respondents are likely to postpone buying an EV, and 58% are likely to retain their current vehicle regardless of its type. Concerns about the high expense of EVs, insufficient charging infrastructure, and range anxiety are significant deterrents. Additionally, more than half of current U.S. EV owners plan to “trade down” in their next vehicle purchase, indicating potential shifts back to more traditional or less feature-rich models.
