Europe’s EV market is expected to see a new growth led by high-end customers. According to a study by the Boston Consulting Group (BCG), 38 percent of consumers who plan to buy a car worth 80,000 euros or more in the next year will consider an electric vehicle, if their expectations for the product experience The main concern for electric car buyers is the price and range experience. The survey found that 46 percent of respondents were concerned about the availability of express buses, potential wait times and the cost of installing private buses. Range concerns, especially regarding battery performance in cold weather, were a concern for 44% of respondents. However, these concerns diminish significantly among those who have already driven an EV: worries about charging time decrease by 24%, and concerns about range drop by 34%. Kathrin Pannier, a partner and managing director at BCG, emphasized that EV manufacturers have a chance to attract high-end consumers if they offer vehicles with the right features at competitive prices. “These consumers are interested in exploring the EV market, but they are also digitally savvy and value-driven,” she said. To appeal to this market segment, manufacturers must address charging and range issues while also meeting high-end buyers’ priorities of safety, comfort, sustainability, and advanced technology features. Addressing these criteria will be crucial for capturing the interest of these potential EV buyers.
