EV Owners Tend to be Wealthy, Educated: Survey

EV Owners Tend to be Wealthy, Educated: Survey

Owners of plug-in electric vehicles and pure-electric vehicles tend to be well off financially and well educated according to a new survey. 

Electric cars are still an expensive option for most consumers, especially considering that these cars don’t offer the same level of convenience as traditional gas cars and are usually offered at a $10,000 premium over their gas-powered rivals. That has attracted buyers who are wealthy enough to not be concerned with the cost-saving, though sales of Nissan’s Leaf and Chevy’s Volt still only represent 0.2 percent of the American car market.

Government subsidies of up to $7,500 are available for these vehicles, as well as significant savings on fuel, but that’s not enough for most consumers to consider a plug-in hybrid or EV.

J.D. Power and Associates say that EVs and plug-in hybrids will not become a mainstream part of the market until automakers find a way to cut prices and boost perceived benefits.

[Source: Detroit Free Press]