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NEW CONSUMER SURVEY REVEALS MAJORITY OF AMERICANS ARE STILL OPEN TO BUYING ELECTRIC VEHICLES DESPITE CHANGING EV MARKET.

Woodcliff Lake, NJ – June 5, 2024 – On World Environment Day, a global call for awareness and action to protect our environment, a consumer survey conducted by MINI USA reveals that American consumers are holding strong in their commitment to electric vehicles (EVs) in the near future. While consumer demand for EVs in the US has slowed from its previously exponential growth in early 2024, the survey indicates that consumer interest and lifestyle compatibility with EVs remains high.

 

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Woodcliff Lake, NJ – June 5, 2024 – On World Environment Day, a global call for awareness and action to protect our environment, a consumer survey conducted by MINI USA reveals that American consumers are holding strong in their commitment to electric vehicles (EVs) in the near future. While consumer demand for EVs in the US has slowed from its previously exponential growth in early 2024, the survey indicates that consumer interest and lifestyle compatibility with EVs remains high.

First conducted five years ago and commissioned by Engine’s CARAVAN®, MINI’s 2024 survey, which is conducted annually in the spring, finds that consumer opinions on electric vehicles is largely unchanged in the last year (58%), with far more people having a positive change in opinion (28%) compared to a negative change (14%). On the purchasing front, 60% of consumers would consider purchasing an EV, with more than two-thirds of Gen Z (72%) and Millennial (70%) consumers sharing this sentiment.

As consumer sentiment heavily informs the automotive industry’s work toward meeting the EPA’s new emissions standards, which require 56% of new vehicles sales to be electric by 2032, a similar proportion of Americans are optimistic about that outcome. About 60% also believe that the market will be at or very close to that level of adoption by 2032.

“Despite reported concerns in market confidence surrounding EVs, we’re seeing high customer interest in electrification, especially in advance of our future EV models, including the all-new MINI Countryman SE set to arrive early September,” said Mike Peyton, Vice President of MINI of the Americas. “It’s an exciting time as the industry shifts to offer customers greater EV choices while answering the concerns of those who have yet to make the choice to go fully electric.”

Among the points deterring some consumers from an EV purchase near-term is the uncertainty in the development of today’s charging infrastructure. While half of all Gen Z respondents feel confident in the current charging network compared to just 12% of Boomers, this still points to a wider belief that mass EV adoption will remain limited with the national charging infrastructure as it stands now.

Fast charging will also be a major point of emphasis for the industry, especially as the younger generations eager to adopt EVs have high expectations for fast charge times. For instance, 80% of Gen Z expects charging to take an hour or less compared to 70% for all other generations – signaling high expectations across the board, but especially so for younger drivers.

Meanwhile, the reported average driving range of consumers remains largely consistent over the last five years, with 71% of consumers currently driving less than 75 miles a day compared to 74% in 2019. With most mainstream EVs offering a range of over 200 miles per charge including the anticipated range of the new 2025 MINI Countryman SE, range is less of an impact for today’s consumers when reflecting daily commutes and routine travel.

Conversely, survey results show overall vehicle cost is a main driver for consumer hesitancy in purchasing an EV (39%). According to the survey, families have become more open to EVs if efficiency savings sufficiently offsets pricing concerns. About 68% of respondents with kids are more likely to buy an EV with said cost savings compared to 47% of consumers across the board. Across the generational spectrum, Gen Z drivers are similarly likely (67%) compared to just 41% of Boomers.

Survey Methodology

The General Population survey was conducted among a sample of 1,013 adults 18 years of age and older on behalf of MINI USA. The online omnibus study was conducted from April 19-21, 2024. Portions of this survey were previously conducted in 2020, 2022 and 2023.

About MINI in the US

MINI is an independent brand of the BMW Group. In the United States, MINI USA operates as a business unit of BMW of North America, LLC, located in Woodcliff Lake, New Jersey and includes the marketing and sales organizations for the MINI brand. The authorized MINI USA dealer organization is represented by a network of 104 MINI full passenger car sales and service dealers located throughout the US.  MINI USA began selling vehicles in the U.S. in 2002 with the introduction of the MINI Cooper and MINI Cooper S Hardtops. Since then, the MINI Brand in the U.S. has grown to encompass a model range of five unique vehicles.

Journalist notes: Media information about MINI and its products is available to journalists on-line at www.miniusanews.com.

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