There has been a lot of discussion in the media recently regarding Electric Vehicles (EVs) from changes in government policy, to infrastructure requirements through to batteries freezing in cold weather. In a world where the wheels of change are always turning and environmental issues are becoming increasing front and centre of peoples minds, the spotlight likely to continue to be on Electric Vehicles.
So what is the current size and potential growth of the market, a recent UK wide survey (conducted by Nortstat in Quarter 4 2023) revealed that 11% of those who bought a car in the last 12 months purchased a fully electric version and 12% of those leasing chose the electric option. In the future, the same survey suggested that would increase to 35% of those buying and 23% of those leasing opting for a fully electric version. So it would seem that the market will continue to grow at a significant pace.
And what is the picture in Northern Ireland?… Here at FN Research, we recently conducted our own online poll to gauge the pulse of our local audience, asking a simple yet pivotal question: “The next time you change your car, would you consider an electric vehicle?”
It would appear there is also a considerable appetite for EVs in NI matching the levels in experienced across the wider UK with 34% suggesting they would opt for an electric car and further 21% still undecided.
Cracking the Code: What Influences Your Decision?
We delved a little further in our own survey to understand the motivations for peoples choices to find out what was propelling them towards electric vehicles or acting as a roadblock.
Barriers
There were 2 main barriers that emerged, they were
- The Cost Conundrum A significant portion of respondents voiced a common concern – the upfront cost of purchasing an electric vehicle.
- Charging Ahead or Holding Back? Another prevalent barrier was the scarcity of infrastructure and charging points.
Motivators
The main but significant motivator was an environmental one. The green motivator with a noteworthy number of participants highlighted the positive impact on the environment as a significant motivator for considering an electric vehicle.