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.

Cars

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

Blue Tesla Model 3 Highland on the road

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.

Cars

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.

Cars

EV sales surge could continue as Trump delays ending federal rebates, report says

Second-Gen Rivian R1S on a road

A surge in sales of electric vehicles in the final months of last year could continue well into 2025, as consumers continue to take advantage of federal tax incentives while they last, according to a report by the Associated Press.
On the day of his inauguration, President Donald Trump signed an executive order titled “Unleashing American Energy”, which says the government is “considering the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies.”
During his campaign, Trump’s team said it was planning to end the Biden administration’s $7,500 tax credit on the purchase or lease of an EV, although it did not provide a timeline for doing so.
Americans rushed to take advantage of the incentive, helping fuel a surge of more than 15% in EV sales in the fourth quarter, according to Cox Automotive.
Recent surveys show that incentives have played a major role in fueling EV sales over the past few years, and that a majority of Americans are in favor of government incentives to help with the purchase of an EV.
Meanwhile, the wording in Trump’s executive order, which says his administration is still 'considering' its options, leaves room for ambiguity about the timing of its application.
“Temporarily, sales of EVs could skyrocket as car-buyers rush to take advantage of existing tax credits,” the report by the Associated Press says.
In order to repeal the EV tax credit, the Trump administration will need to obtain the approval of congress. The process will likely take place as part of broader negotiations on extending Trump’s first-term tax cuts, which are due to expire near the end of 2025.
It’s also not entirely clear if the Trump administration will seek to end the whole of the $7,500 EV tax incentive. In order to obtain the incentive for the purchase of an EV, restrictions apply for high-income households and for EVs with non-U.S. made batteries. But those restrictions don’t apply to leasing an EV.
According to Cox Automotive, members of the Trump administration are particularly keen on ending “this leasing loophole, which was created partly to appease Korean and Japanese automakers, who have invested billions in U.S. EV manufacturing.”
Ending rebates and other subsidies for EVs is also likely to meet challenges, be they legal or political, from different actors.
The Zero Emission Transportation Association (ZETA), a trade group whose members include the likes of Tesla, Waymo, Rivian, and Uber, has come out in support of incentives for both the production and the sale of EVs.
ZETA says the incentives for both EV and battery-makers have led to enormous investments and job gains in Republican-dominated states like Ohio, Kentucky, Michigan, and Georgia.

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