Survey: 18-24 and 25-34 Year Olds Most Likely to Buy an Electric Vehicle Within the Next Year

4 years ago by Eric Loveday 11

Census Shows Both of Those Age Groups Are Growing in the US

Census Shows Both of Those Age Groups Are Growing in the US

Survey says…

Zpryme Survey Says...

Zpryme Survey Says…

In September, Zpryme conducted (in cooperation with Central Texas Fuel Independence Project and Austin Energy) an electric vehicle survey, the results of which have now been made public.

According to the survey, nearly 7 percent of US consumers in a nationally representative sample (1,000 adults) stated that they were “very likely” or “somewhat likely” to purchase or lease a plug-in vehicle over the course of the next 12 months.

Further survey results show that the age groups most likely to consider purchasing a plug in were 18-24 and 25-34, so definitely what we’d consider the younger crowd.

Finally, Zpryme’s survey show that suburban (not urban) residents were most likely to purchase a plug-in vehicle within the next year.

Oh…one more point of interest.  Zpryme says that there was a direct correlation between high gas prices and the desire to purchase a plug in.  Since the survey was conducted over several months, Zpryme’s data shows that in the Summer (when gas prices are typically the highest), there was a significant spike in the percent of respondents who stated that they were “very likely” to buy a plug in.

Press release below:

While automakers led by Tesla Motors and Nissan continue to add plug-in electric vehicle (PEV) models in the U.S., new research from Zpryme asks what combination of age, gender, region, or residency will help identify what demographic will drive 2014 PEV sales.

In the INFOgraphic, U.S. PEV Consumer Perceptions Survey, with partners Central Texas Fuel Independence Project (CTFIP) and Austin Energy, a Zpryme nationally representative sample of 1,000 adults surveyed monthly from February to September yielded several interesting results. For example in September a combined (6.9%) of U.S. consumers will “very likely” or “somewhat likely” purchase or lease a PEV over the next 12 months. More poignantly the age groups most likely to purchase a vehicle within the next year were (18-24) and (25-34) and citizens taking up residency in suburban areas ranked highest (4.7%). Additionally, the August poll received the highest spike in consumers “very likely” to buy or lease a PEV; reinforcing the correlation between high summer gas prices and need for improved fuel economy.

“Zpryme’s research continues to validate strong interest in plug-in electric vehicles by an ever expanding demographic,” stated Karl Popham, Austin Energy Manager of Electric Vehicles & Emerging Technologies. “PEVs are quickly emerging from a niche product for early adopters to a serious choice for many car buyers.”

“Across the board, these data points provide insight into the near future of the EV market. This study helps us to identify characteristics of those that are very likely to buy an EV in the near future. The high rates of young and old buyers, and suburban buyers, indicates to me that interest has gone beyond “early adopter” phase,” stated Andrew Johnston, Central Texas Fuel Independence Project. “Locally, that means our markets are not just in Austin and San Antonio but all around our region. The diversity of EV enthusiasts in age, and geographic region is a sign of a broadening market. Populations are opening up to electric vehicles.”

“With California being the nation’s largest plug-in electric vehicle market and the overall sweet spot for owners settling in around 35-44 it’s not surprising that the Zpryme survey pointed to the (South) as well as age groups (18-34) as “very likely” to purchase a PEV in the next 12 months – it simply boils down to consumer education and affordability,” stated Mark Ishac, Zpryme Managing Director. “PEV charging accessibility, income levels, and adequate education all play a significant role in plucking consumers from the showroom floor and dropping them in the driver’s seat; Zpryme has monitored these PEV trends since 2010 annually (now monthly).”

Other results from September survey (very likely to buy/lease over the next 12 months):

About CTFIP

Gender: Male (4.7%), Female (3.3%)
U.S. Region: Northeast (5.3%), South (5.3%), Midwest (4.6%), West (1.5%)
Residing: Suburban (4.7%), Urban (2.7%), Rural (2.6%)

The goal of the Central Texas Fuel Independence Project (CTFIP) and its diverse group of contributors is to support adoption of plug-in electric and natural gas vehicles and accelerate the implementation of fueling infrastructure for Central Texas. CTFIP is supported by the US Department of Energy and housed at Austin Energy.

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11 responses to "Survey: 18-24 and 25-34 Year Olds Most Likely to Buy an Electric Vehicle Within the Next Year"

  1. GuyMan says:

    Perhaps I missed it, but is there a link to the source survey.. I just like to read all the pesky math and statistical details…

    1. Eric Loveday says:

      I’ll add in the press release…the actual survey results are only accessible to press and members (requires membership that you must pay for…and who in the world would pay to see survey results?)

  2. pjwood says:

    Anyone have the 18-34 unemployment figures handy?

    Demographics are a troubling topic.

    1. Ocean Railroader says:

      There was a topic I remember reading about how there is not going to be enough to young people to keep the system afloat and at the same time there wasn’t going to be enough young people to replace all the aging people’s jobs. Five minutes later I remember reading a different story that most of the young people are unemployed at 20% and 50% in Europe and large numbers where unemployed in the US. Which meant the two stories counterattacked one another. If ether one of these things where true or not wouldn’t the young people not be unemployed if their where large numbers of people retiring that out number the young people?

      I really think the recession in Europe is what is killing EV sales along with the Recession here.

      1. pjwood says:

        Because of the damage done to baby boom retirement plans (aka 55-60 y/o’s who were ~80% in stocks, in ~2007), they won’t be leaving the workforce as expected. That’s one possibility. It all gets policital, really fast. Somewhere between austarity and high inflation lies the solution, I think.

        1. scott moore says:

          Mcdonalds introduces the “mcflat”, a micro apartment ajoining current mcdonalds restaurants offering only space enough for a bed and a tv. This is offered free to their employees that work in the same stores. Mcdonalds introduces the “supermac” store that is Walmart size and consists of a giant cafeteria and general store with mcflats. Mcdonalds employs more than %50 of 20-29 year olds. Mcdonalds adds the “mcuniversity” where their employees can get a mcdegree in 2 years.

  3. kdawg says:

    I would have liked to see the same people write down the amount they expected to pay for their next car.

  4. scott moore says:

    Well, it backs up what the Motley Fool dude said (and everyone yelled about), that a key mover is a cheap 15,000 EV whose range is not particularly relevant. 20 somethings are motivated for alternative cars, more interested in short travel times, and highly price sensitive.

    The Spark, a Spark lite, or something like it that uses the next generation of battery technology to reduce price (and weight) instead of extend range is the perfect car for them.

    I’d get one for my wife too, so that she would stop looking at my leaf.

    1. io says:

      Used Leafs should start appearing in greater numbers as leases run out. Pricing on those may be appealing…

  5. Spec9 says:

    They are the most likely to say they’ll buy an EV . . . but they don’t have the money to actually buy one.

  6. Nate says:

    There are young people with the money to buy cars. Many people in this demographic are less interested in buying new cars compared to previous times, but that doesn’t mean it is because they are all broke. Many urban areas have invested in bike lanes and public transport. There are also car share options that weren’t around a couple decades ago. If you can get by fine without one, why put your money into a depreciating asset?

    It is not all doom and gloom in the job market. I’ve been employed with the same company since 2009 and we have not laid anyone off due to the economy. The company I work for is expanding due to some new projects. We plan to hire 20+ people very soon. We are in competition with many other tech companies for talent in the Portland metro area. There are good jobs with small start-ups, mid size companies like the one I work for, and large corporations like Intel and Nike. We have some great employees that fit the demographic that people are criticizing here.