A New Wave of High-End Buyers Is Ready to Make the Change From Internal Combustion Engines If Their Needs and Concerns Are Addressed Charging Experience and Range Are the Biggest Hurdles to Adoption Charging and Range Concerns Significantly Lower for Those Who Have Driven a Battery Electric Vehicle Safety, Comfort, and Sustainability Are the Key Purchasing Criteria, along with the Digital and Tech Experience BOSTON , Aug. 28, 2024 /PRNewswire/ -- After a slowdown in the European battery electric vehicle market, a new wave of high-end buyers shows potential to drive a recovery. Thirty-eight percent of high-end consumers looking at a car purchase of €80,000 or more within the next year are considering a battery electric vehicle.
Among these prospective buyers, 64% would choose an electric vehicle over an internal combustion engine alternative if the models offered the same specifications. However, to capture this growing segment, electric vehicle manufacturers must prioritize addressing customer needs and alleviating key concerns. These are among the findings of a new Boston Consulting Group (BCG) study, Europe's High-End Buyers Rethink EV Ownership , released today.
The study is based on a survey of more than 5,000 prospective auto purchasers in five major European markets, Germany , France , the UK, Italy , and Spain . Of these, 20% were in the high end, premium plus, and luxury price segments. "Electric vehicle manufacturers have a unique opportunity to attract a new wave .