economics of buy a plug in hybrid electric vehicle

After two years of heavy public health messaging around social distancing, usage remains stubbornly below 2020 levels, despite the efforts of many city authorities and transportation companies. While overall levels of travel reported remain lower when compared to the pre-pandemic benchmark, the number of consumers who say constant access to a personal car is very important to them is rising, and for the first time more than half of those surveyed, 52%, who intend to buy a car say they intend to choose either a fully electric, plug-in hybrid or hybrid vehicle.Ĭonversely, consumers continue to avoid public transport when they can. The MCI survey - now expanded to encompass nearly 13,000 consumers across 18 countries - is a major global EY research program that has tracked consumer mobility patterns and buying intentions since the start of the pandemic in 2020. So, what is happening, and what will it mean for original equipment manufacturers (OEMs) and their suppliers and dealers, for transport authorities and policymakers? The headline findings from the EY Mobility Consumer Index (MCI) 2022 study (pdf) reveal that consumers are continuing to travel less than in pre-COVID-19 times but their preference for the car - and electric vehicles (EVs) in particular - is growing ever stronger. With many key markets consumed by the triple-whammy of shifting to an endemic COVID-19 strategy, whether to hold back or double down on climate change and the geopolitical challenges of the so-called “permacrisis,” perhaps it’s no surprise that the revival in consumer mobility hasn’t quite materialized as the industry might have wished for.

Economics of buy a plug in hybrid electric vehicle