Voice of the Customer: Electric Vehicle & Powertrain Services and Features, 2022

Voice of the Customer: Electric Vehicle & Powertrain Services and Features, 2022

Europe continues to be the leading market for electric vehicles. BEVs are considered ‘clean’ innovations where tech gadgets render high-tech attributes when compared to ICEs. Frost & Sullivan assessed new customer attitudes and preferences for alternative vehicles and powertrains by vehicle segment and key demographics. Frost & Sullivan carried out more than 2100 interviews among potential customers of vehicles in the EU5 region. Respondents included car owners or primary users of a car, and decision-makers in car purchasing and new car purchases planned for the next three years. Most of the car owners who responded drive ICE, PHEV, BEV, and volume brand cars that were purchased outright. Almost 63% BMW owners reported the highest re-purchase intention, compared to the lowest for Renault owners at 31% and 50%. Reported brand loyalty for the ability of the current vehicle brand to deliver is compelling BEVs, but almost 25% of the respondents think that external industry players can also offer similarly competitive products. Currently, PHEV drivers showed a higher frequency of vehicle usage—by ~40% on average compared to ICE vehicle drivers—for key uses, such as commuting to work, school drop-offs, and driving to sports venues. PHEV drivers also have a higher number of people living in the household than BEV owners.

More than 80% of the respondents own their homes and live in urban or suburban environments. About 45% of the respondents live in detached villas and 54% in flats/condominiums, but 91% have access to private parking. Demographically, the high expected PHEV all-electric range of 108km is higher than most current OEM roadmaps. Older generations are expecting an even higher range, while Gen Z is less demanding with an average expectation of 50-75km. Also, the sample reflects the more affluent and higher educated population who are driving newer vehicles and intend to buy new cars Concept tests show that all respondents appreciate the additional benefits of EVs, that of serving as an energy supply source with 60% stating interest in supplying energy back to the grid to reduce home energy costs. Italy & Spain appear to be most enthusiastic about these possibilities, while the UK comes across as least prepared to pay a premium for these additional capabilities in the EU5 region.