50% of Chinese consumers consider electric car purchase

On April 18, Deloitte released survey results that showed 50% of the Chinese consumers consider purchasing or leasing an electric vehicle, whereas only 12 percent in the United States, 16 percent in Europe, and 4 percent in Japan,

The demographic of these potential car-buyers are usually between 18 and 35 years old, and 80 percent of them have a bachelor’s degree or higher. Half of them are males who live in urban areas and are  affluent.

An interesting point to note  from the survey is that the the fuel prices strongly affect the popularity of electric vehicles. 66 percent of the Chinese consumers are more likely to consider an electric vehicle when the cost of fuel prices rises to 10 yuan per litre. This percentage increased to 85 percent if the fuel hits 12 yuan per litre.

Craig Giffi, head of Deloitte’s global automotive sector, said that as China is the largest auto market in the world and Chinese consumers are increasingly interested in electric vehicles, China undoubtedly has enormous attraction to electric vehicle makers. However, he said, “Current market offerings generally fall far short of consumers’ expectations for driving range, charging time and purchase price.”

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