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Insights from an EV Consumer Sentiment Survey published by the Australian Automotive Dealer Association (AADA) revealed that the price of electric vehicles (EVs) is still why buyers hesitate to purchase one.

AADA’s data was sourced from Zing Insights’ January 2024 EV and Hybrid Vehicle report, a survey of 2000 Australian drivers about their current and future car buying habits.

The report showed that 57 percent of buyers are concerned about the initial cost of buying an EV, 50 percent are worried about the lack of charging points, and 44 percent believe they are not equipped for a home charging setup. Furthermore, the survey also expressed concern about the driving range and perceived high repair costs.

Consumer Preferences

Although most Australians drive petrol cars (80 percent), 27 percent are considering buying an EV for their next main vehicle. Additionally, while 35 percent plan to purchase a new car, 62 percent are eyeing a used one.

Petrol is still the top pick for primary vehicles (80 percent), followed by diesel (36 percent) and hybrid (40 percent). But interest in EVs is growing, making up 25 percent of other vehicle choices.

Almost a third of respondents (29 percent) are either highly likely or somewhat likely to buy an EV as their main ride. Another 26 percent are interested in plug-in hybrid electric vehicles (PHEVs).

In addition, many Australians are feeling the squeeze of living costs, with 71 percent planning to keep their current cars for longer. Also, 67 percent think governments should offer more incentives for people to switch to EVs.

Interestingly, the survey showed that people are willing to pay about 8 percent more for an EV compared to a petrol car.

Overall, the survey shows that more Australians are considering EVs, driven by environmental concerns and increasing fuel prices. However challenges like high costs and limited charging spots are still holding back widespread adoption.

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