Arthur D. Little (ADL) released its worldwide automotive market report. Key findings are that desire for car ownership remains strong, especially among the young, and that drivers are considering a dramatic switch to electric and hybrid vehicles (EVs). This will impact manufacturer and supplier engine strategies and push for faster development of EV ecosystems, such as charging solutions.
Drivers are now much more willing to embrace alternative drivetrains, according to the study. Fifty-eight percent would accept paying more for hybrids and 50% for EVs. While the majority have gasoline or diesel-engine vehicles, this could change rapidly. Of those planning to replace their car, 48% said they’d consider an EV (BEV, hybrid, or plugin hybrid), 36% a gasoline-engine vehicle, and 12% diesel.