A report from McKinsey, however, suggests
that purchase intent is on the up, especially
amongst higher-income households, although
they add that all regions other than China are
looking to spend less on their car than before
COVID, which could put a dampener on electric
vehicles which are traditionally expensive.
Interestingly, their report also revealed digital
is becoming more important in the purchasing
funnel, with younger drivers not only more
interested in EVs than their parents but more
interested in buying online rather than in-
person, a new direct-from-manufacturer model.
With brands like Tesla perfecting this approach,
it’s clear the industry is on a new path.
Perhaps one of the most concerning statistics
for automotive giants, however, is mobility. 52%
of respondents said that they’ll travel less than
before COVID-19 in the future, with walking,
biking, and micro-mobility likely to become
more popular as a result of lockdowns and a
renewed focus on health and wellbeing. It’s
not all bad news, though: more than a third of
consumers say that they value constant access
to a private vehicle more than ever before,
preferring to travel in their own vehicles than
use public transport or rely on Ubers.
EXCITING LAUNCHES FROM
ESTABLISHED BRANDS
Keen to tap into the growing demand for
electric-powered vehicles, manufacturers are
readying the release of dozens of new models
in the coming months. Gas may be cheap and
the economy might be unstable right now, but
automakers are hedging their bets on new EVs
which were designed for modern consumer