Toronto, Ontario — While more and more drivers are buying electric vehicles, the pace of the transition away from gas powered cars is slowing in some parts of the world, according to a new report from McKinsey and Company.
In its annual Mobility Consumer Pulse Survey, McKinsey examined consumer data that suggests the the path toward widespread EV adoption may be a wending one.
While EVs continue to make gains globally, sales growth has slowed in several key markets, even as Chinese EV brands surge in popularity with affordable, tech-forward models.
Consumer demand is still very much alive—especially among those who’ve already driven an EV.
In China, nearly half of respondents plan to buy a EV next, while in the U.S. and Europe, many are opting for plug-in hybrids instead, reflecting a more cautious transition.
In Europe, 23 percent of drivers reported wanting their next vehicle to be a battery electric vehicle. Additionally, seven percent intend to buy a plug-in hybrid electric vehicle.
In the U.S., just 12 percent of drivers say their next car will be a BEV and 25 percent say it will be a hybrid.
McKinsey found plug-in hybrids are seen as more practical than BEVs in areas where charging infrastructure is sparse. It also found households that already own an EV are far more likely to buy another than return to internal combustion engines.
