Almost Half Of EV Owners Would Switch Back To Gas Car

McKinsey & Co. has released its “McKinsey Mobility Consumer Pulse Survey.” The study was based on 30,000 responses from 15 nations.

Some of the results were predictable because they mirrored other studies. Why don’t people buy EVs? Forty-five percent say they are too expensive. Thirty-three percent have concerns about charging. Twenty-nine percent say they are worried about range.

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Other results have been introduced previously. EV buyers are younger, have higher incomes, and live in cities. This raises the question of whether EV adoption will ever match the adoption levels of what is known as international combustion engines. The EV industry should be concerned.

Change Back To Gas Cars

The study’s shocking conclusion was that “29% of EV owners globally are likely to switch back to ICE, mostly because of difficulties with charging.” The EV industry has another steep hill to climb at that churn rate.

The surprising US figure is that 46% of US EV owners would likely switch to gas-powered cars. The number of charging stations was the top reason (35%), followed by total cost of ownership (34%).

The figures are staggeringly bad for the US EV vehicle industry. Seven percent of US car owners own an EV. In a decade, the federal government and car manufacturers hoped that would be closer to half. Car companies have poured tens of billions of dollars into a future that may never exist.

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