Americans Want Gasoline News Staff
by News Staff
Additionally, fewer consumers are inclined to pay for self-driving features.

A recent KPMG study indicates that Americans still prefer standard gasoline vehicles over hybrids or electric vehicles, even when price and features are the same.

Only 20% of survey responses expressed a preference for electric vehicles over gasoline-powered or hybrid alternatives. This revelation comes amid a global slowdown in demand for electric vehicles, prompting major automakers such as Ford, General Motors, Volkswagen, and Mercedes to reconsider their electric vehicle strategies.

The study highlights a significant gap between U.S. consumer expectations and those of auto industry executives regarding electric vehicle charging times during road trips. While 60% of U.S. consumers desire charging times of 20 minutes or less, only 41% of auto executives believe consumers are willing to wait longer.

Auto industry executives have a flawed view regarding electric vehicle charging times.

Additionally, the study reveals that fewer consumers are inclined to pay for self-driving features and entertainment options compared to safety, WiFi, and charging locators. A trend luxury automakers have already begun exploiting.

KPMG's American Perspectives Survey, which includes these auto insights, is part of a larger cross-industry survey of 1,100 U.S. adults that examines the economy and shifting consumer preferences.

This article was co-written using AI and was then heavily edited and optimized by our editorial team.

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  • Ninja250 Ninja250 on Jun 06, 2024

    Speaking for myself, I'd be happy to purchase a compact, electric, city car if the price were under $20k. I recently purchased a used Mercedes E-350 with 32k miles on the clock for $25,000. Since I saved $28,000 when compared to the average EV price of $53,000, I can fuel this car for about 208,000 miles. ($28,000 divided $3.50/gal gas = 8,000 gallons of regular times the average city mileage of 26 mpg = 208,000 miles. And yes, I'm assuming regular gas since their normally aspirated cars run just fine on it, but if you are picky, than 175,000 miles on premium). Since I do my own oil changes and brake jobs, cost of maintenance is minimal and insurance on an ICE car is far less. So here's the conundrum. If BYD can deliver an inexpensive EV for the masses, What's wrong with all the smart people at GM, Ford and Stellantis? Apparently the general public can do the same math I can, and therein lies your problem.

    • Michael Accardi Michael Accardi on Jun 10, 2024

      IMO, the problem is labor. Cost of labor in US and Canada is so much higher compared to Mexico or China. Pound for pound, the exact same vehicle has an inherent premium baked in because of the increased cost of production. I'm not saying lets do away with producing cars here, I'm simply stating that's where I believe the discrepancy lay.