Information

In recent years, the electric vehicle (EV) revolution has transcended borders, reshaping the automotive landscape on a global scale. As nations around the world embrace sustainable mobility solutions, the spotlight shines brightly on EVs as a pivotal catalyst for change. Our journey begins with an exploration of consumer sentiments towards EV adoption, offering insights into the driving forces and aspirations shaping the future of mobility.

*The data collected from Z.com Research’s members is based on 1,048 samples.

Demographic data

In our survey encompassing 1,048 respondents, a balanced representation of gender was observed, with 58.6% identifying as male and 41.4% as female. The age distribution revealed a diverse mix, with the majority falling in the over 40 years old category (30.2%), followed closely by the 30-34 years old group (20.8%).

Monthly Household Income

Financial prudence remains a guiding factor in automotive decisions. A significant proportion of respondents (36.3%) reported monthly household incomes below 50,000 INR, while 35.2% fell within the 50,000 to 100,000 INR bracket.

Ownership patterns revealed a diverse mix, with 47.6% of respondents owning both cars and motorcycles, followed by 31.0% owning motorcycles and 9.9% owning cars. Additionally, 31.0% of respondents exclusively own motorcycles, highlighting the enduring popularity and versatility of two-wheeled transportation in India's urban and rural landscapes. Notably, 11.5% of respondents reported owning neither, underscoring the diverse mobility preferences in the Indian market.

 

EV Brand Recognition

In the realm of EV brand awareness, Tata Motors emerged as a frontrunner, capturing the attention of 65% of respondents. Mahindra Electric and Hyundai also garnered significant recognition, with 50% and 45% respectively.

Advantages and Drawbacks

From the survey responses, the top 3 advantages of driving an EV were:

1. Fuel cost savings (75%)
2. Eco-friendly (65%)
3. Less noise pollution (63%)

On the other hand, the top 3 drawbacks of EVs were:

1. Long charging time (65%)
2. Limited range of movement (60%)
3. Poor operational capability (39%)

Interest in green and sustainable technologies

Our data echoed a resounding chorus of interest, with consumers expressing a strong inclination towards green and sustainable technologies. A staggering 83.6% of respondents expressed keen interest in EV manufacturers implementing green and sustainable technologies, underscoring a growing appetite for eco-conscious solutions.

 

Buying an EV

Despite the burgeoning interest, only 58.9% of respondents expressed plans to buy an EV in the near future, with an additional 26.0% considering a purchase further down the road. Factors such as good price (53%) and convenience (47%) emerged as primary influencers in the decision-making process.

Conclusion

Our exploration of the Indian EV market unveils a landscape brimming with potential and nuanced preferences. As the automotive industry undergoes electrification, understanding these insights will serve as a compass, guiding stakeholders towards a sustainable and electrifying future.