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Targobank study: Interest in electric cars stagnates - Majority against combustion engine ban

Petrol cars remain popular, image of electric cars improved. Skepticism regarding e-cars from Chinese manufacturers. Green mobility is particularly in demand as an employee benefit. The EU plans for more traffic safety are well received - as is the speed limit. 66 percent oppose the ban on combustion engines.

The environment does not take the lead: Environmental factors play a subordinate role in purchasing decisions, with price playing a significantly larger role. | Graphic: Targobank
The environment does not take the lead: Environmental factors play a subordinate role in purchasing decisions, with price playing a significantly larger role. | Graphic: Targobank
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Johannes Reichel

The financial service provider Targobank has once again surveyed Germany's drivers about the current sentiment and found an almost stagnant interest in purchasing an electric car. The latest survey shows: The popularity of combustion engines remains high. If purchasing a car, 31 percent (+1) of the respondents would prefer petrol engines. The preference for diesel engines also slightly increased, with 13 percent of respondents (+3) favoring it. It fits that 66 percent (+2) reject the combustion engine ban coming into force in 2035. The popularity of alternative drives has decreased again compared to the previous year: 29 percent (-7) of the respondents who currently drive a diesel or petrol car plan to switch with their next car purchase.

The popularity of hybrid and hydrogen cars continues to decline among all respondents: 15 percent (-3) can imagine choosing such a drive. For hydrogen cars, the share is now 3% (-3). The preference for pure electric vehicles remains nearly the same compared to the previous year: 17 percent (+1) would consider a pure electric drive. 21 percent are still undecided about the drive type. When asked how they plan to pay for their new vehicle, a good half (51 percent, +1) mention cash, while just over a third (37 percent, -3) rely on financing or leasing. Since 2016, the Düsseldorf-based bank has annually commissioned the survey institute Forsa with a car study. This year's focus of the study again included the decision criteria for car purchase, the attitude towards different types of engines, as well as general views on current transport policy issues and measures.

"Whether it's the mobility transition, technical developments in the automotive market, or transport policy decisions: the choice of a suitable vehicle depends on various factors." The aim of the survey is to find out which issues consumers are currently particularly concerned about, says Markus Häring, Head of Targobank Autobank.

Image of Electric Cars Improves

The perception of the environmental friendliness of electric vehicles has improved slightly for the first time since 2016: 43 percent of respondents consider e-cars more environmentally friendly than combustion engines (+4). Some of the concerns mentioned in the survey regarding e-cars are based on sustainability aspects: 52 percent (-5) criticize the environmental impact of batteries, and 48 percent (-1) the limited lifespan of batteries. 57 percent (-6) cite the insufficiently developed charging station network, and 63 percent (-3) the inadequate range as arguments against purchasing an e-car. The top argument is cost: For 67 percent (+3), the comparatively high purchase price speaks against an e-car. Hybrid vehicles continue to offer a good compromise between low environmental impact and range for the majority – nevertheless, as in the previous year, their popularity is also declining by a few percentage points: Only 54 percent (-3) still consider hybrids a good alternative.

Purchase Incentives Barely Influence Purchases

The discontinuation of government subsidies for hybrids and e-cars has only influenced the purchasing behavior of 9 percent (-1) of respondents: They have either expedited or postponed the purchase of a vehicle because of this. General approval for financial incentives for electric cars remains stable: 48 percent (-1) of respondents still consider them appropriate despite the already decided discontinuation, while 46 percent (-1) are opposed. Only 29 percent now consider the use of tax money for purchase premiums appropriate (-6). However, far more respondents support such an incentive if it is specifically directed at low-income households: 41 percent approve in this case.
 

E-cars from Chinese manufacturers are mainly an alternative for the younger generation

Although costs are cited as the top argument against e-cars, the majority (57 percent) of respondents currently cannot imagine buying a model from a Chinese manufacturer, which are often more affordable. However, 36 percent would consider it. A clear difference between age groups is evident on this question: While 51 percent of younger respondents (18-29 years old) can imagine purchasing a Chinese-made vehicle, only 28 percent of those over 60 years old can. The top argument for a purchase is most frequently the price (87 percent), followed by positive reviews/tests (27 percent). The top argument against buying a Chinese e-car is the government subsidies granted by the Chinese state, which are also discussed on a political level (42 percent). Forty-one percent have concerns about local customer service, and 39 percent about the build quality.

Green mobility is in demand as an employee benefit

Even though the breakthrough in the popularity of e-cars is still pending, sustainable mobility is a topic for respondents and is appreciated, for example, as an employee benefit. Seventy-five percent of employees want a free charging infrastructure for e-cars and e-bikes at the workplace. Sixty-five percent find the offer of a company bike option attractive. Sixty percent want employers to cover the costs for the Deutschlandticket as a "job ticket." More than half of the respondents (52 percent) say employers can score points by promoting the private switch to e-cars with a financial subsidy for chargers. Forty-two percent wish for corporate carsharing, i.e., the provision of vehicles for discounted community use, including for personal use.

Price Sensitivity regarding the 49-Euro Ticket

23 percent of the surveyed car drivers report that they have purchased a 49-euro ticket at least once since its launch in May 2023. More than half of the buyers (55 percent) subsequently reduced the use of private cars, scooters, and motorcycles. 91 percent state that they would like to continue using the 49-euro ticket at the same price in the future. A potential price increase of the ticket, as being discussed on a political level for 2025, has a significant effect on this rate according to the survey: with an increase from 10 to 59 euros, only 63 percent state they would continue using the ticket. A price increase from 20 to 69 euros makes the ticket attractive to only 26 percent.

EU Plans for More Traffic Safety Well Received - Like Speed Limits

The driver license reforms being discussed at the EU level are mostly met with broad approval: 71 percent of the surveyed support a regular fitness-to-drive check for all drivers from the age of 70. 67 percent are in favor of a medical examination for all at the time of driver license acquisition. 87 percent of those surveyed support the recognition of driving bans or license revocations in all EU countries. In contrast, only 48 percent consider a digital driver’s license on a smartphone to be sensible.

With regard to the traffic transition, the introduction of a general speed limit on highways in Germany remains a recurring topic. The survey results have remained consistent with the previous year: 63 percent agree with a general speed limit, while 35 percent oppose it. The perceived appropriate speed limit remains almost unchanged from the previous year, with 133 kilometers per hour (+2).

Translated automatically from German.
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