Jason Ford

Report highlights consumer concern over electric vehicles

News

Consumer enthusiasm for electric cars has failed to ignite as concerns around the cost of running and maintaining the vehicles prove too high a risk for buyers, according to a new report from KPMG.

KPMG’s International 14th Global Automotive Executive Survey, which surveyed 200 auto executives from 31 countries, reportedly found that the cost of batteries and recharging the vehicles was a major barrier to those considering purchasing electric vehicles.

According to KPMG, 62 per cent said that instead, consumers wanted their vehicle to last for as long as possible, signalling a need for mature and sustainable technologies.

To meet consumer demand, automakers surveyed say they plan to optimise the petrol engine further and invest in hybrid plug-in fuel systems over the next five years.

‘There is an increasing realisation that the petrol engine has further scope for optimisation,’ said John Leech, KPMG’s UK head of automotive. ‘This is quite a turnaround in direction and a sign that some of the newer technologies are taking longer than expected to emerge. This will benefit the UK, which is the second-largest manufacturer of petrol-engine-powered cars in Europe and especially UK suppliers of turbochargers and direct-injection petrol-engine components.’

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