ADAC survey: Funding freeze has little impact on car purchase plans for electric vehicles
Despite the discontinuation of government subsidies, the willingness to acquire an electric car in the medium term has not decreased. At the same time, leasing remains a popular form of financing. This is shown by the latest survey* by ADAC SE, in which more than 3000 people were surveyed about the ownership, acquisition, and financing of privately used electric cars in February and March 2024.
The discontinuation of the government environmental bonus has no impact on the fundamental interest in an electric vehicle, according to the survey: 22 percent of those who want to buy a new car privately in the next three years are opting for an electric vehicle. This means the share for fully electric vehicles remains at the previous year's level. The share for hybrid and combustion engine vehicles also changes only slightly compared to the 2023 survey.
Current electric car drivers remain loyal to electric vehicles
Owners of electric cars who plan to buy a new one in the next three years mostly want to stay with electric propulsion, according to the survey. 79 percent of current electric car drivers want to choose an electric car again, and 10 percent each plan to switch from an electric car to a combustion engine or hybrid vehicle. "The loyalty among those who are already driving an electric car is high," explains Markus Groiß, Managing Director of Car Rentals and Financial Services at ADAC. "This is also due, in our assessment, to the fact that they have already aligned their cost calculations and infrastructure to the electric mobility system."
System Electromobility: Wallbox and PV System Considered
The current survey also confirms that an electric car is planned in conjunction with the necessary charging and power infrastructure: 80 percent of respondents who already drive an electric car privately today also have a wallbox at home, with another eight percent having an installation option. Around 70 percent of those who want to purchase an electric car and do not yet have a wallbox plan to install a home charging station within the next three years.
The integrated approach to mobility and energy supply is also evident when it comes to photovoltaics: 42 percent of electric car owners surveyed already have a PV system. Additionally, among those planning to purchase an electric car in the next three years, 24 percent already have a PV system. "Emission-free power generation and electromobility go hand in hand. The investment costs for a vehicle, photovoltaic system, and wallbox pay off faster the more one uses their own electricity," says Sascha Coccorullo, Head of Strategy, New Business and Research at ADAC SE.
Electric Car and Leasing Still a Popular Combination
Leasing as a form of financing remains more popular with electric cars than with combustion engines or hybrids at the beginning of 2024. When purchasing a private vehicle, 19 percent of those planning to buy an electric car want to use leasing as a financing option, while only 11 percent of those planning to buy a combustion engine vehicle consider leasing. "The combination of leasing and electric cars remains attractive," says Markus Groiß. "Our sales figures also confirm this: More than half of the leasing contracts concluded through ADAC Fahrzeugwelt in 2023 were for electric vehicles. This trend continues even after the subsidies were discontinued."
The online survey on "Ownership, Purchase Planning, and Financing Form of Purely Privately Used Electric Cars" was conducted on behalf of ADAC SE from February 22, 2024 to March 4, 2024. A total of 3232 representatively invited persons aged 18 and over were surveyed, in whose households at least one car is present and/or who plan to purchase a car within the next three years.
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