EV Infrastructure Isn’t The Problem… Yet | New Car Buyer Demographics

New cars and truck buyers are a particular demographic group. In every group there is an exception, but by-and-large EV buyers and brand-new anything consumers are fairly alike and their market is important. Chances are, if you're purchasing a new vehicle, truck or SUV, you're a single family homeowner that can manage to set up a home EVSE. You're also most likely to be able to live with an EV without major life changes and have another non-EV around for road trips. What takes place on the utilized EV market? Well, that's a different kettle of fish …

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Posted

November 25, 2024

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Alex Dykes, Alex On Autos, car, cars, Detailed Review, Driven, ELECTRIC, ev, review, Road test

Comments

13 responses to “EV Infrastructure Isn’t The Problem… Yet | New Car Buyer Demographics”

luckycharms8282

January 27, 2023

Buying a $100,000 Model S on an income of $150,000 seems…like a bad financial decision. Didnt know the average tesla buyer has income that low. Porsche said the median annual income of a macan buyer is $440,000.

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1. Andrew Lay
  
  January 27, 2023
  
  Yeah humans are bad with money.
  
  Reply
EVing made EZ

January 27, 2023

Some names NEED to be named….(blame Canada)

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Mark Webb

January 27, 2023

Very believable statistics. I bought my first new truck when I was 45. Our first new fancy Lincoln was purchased last year when I was 65. I think these younger whipper snappers are living on the edge i they are buying new cars. Our Lincoln is a plug in hybrid. Not much range on battery. Probably will not have a great resale value when we sell it.

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Alien Drone Services

January 27, 2023

0:33 To some degree, new cars *_are_* designed for used-car buyers. This is because one of the factors considered by the new-car buyer is *_depreciation_* . Without deliberately designing for longevity and product-support at, say, the 10-year age point, new cars might suffer a 100% 10-year depreciation-rate. This would be a turn-off for new-car buyers. Even if Owner 1 plans on selling it at the 3-year point, the vehicle becomes a hot-potato as it ages, and no one wants to be left holding it at the Year 10 zero-value point, which reduces its value for any previous owner.
We saw this occur with the oil-futures market in April 20, 2020. No one wanted to be left holding that self-heating hot-potato as it got hotter and hotter.

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Dave

January 27, 2023

This is very interesting, not sure about the US, but in Australia home ownership is decreasing due to the very high cost of entry. I wonder what this might mean for new car sales overall?

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Goostrey

January 27, 2023

Great analysis. Yes, we have a family income at about the 97th percentile nationally but we drive a 13-y-o Prius and a 8-y-o Outback and I can’t imagine paying the median new car price of $48k for a replacement. Shows how screwed up the economy is. One thing I find really interesting that you could cover is the inflation-adjusted costs of cars in the 70s, 80s, and 90s. We think cars are expensive now but if you calculate the equivalent cost of cars from decades past they were more expensive still. (Tommy on TFL sometimes mentions the inflation-adjusted costs of the classics they own and that’s what alerted me to this fact).

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alliejr

January 27, 2023

Keep preaching!!! 👏🏽👏🏽👏🏽 but the focus hunt in this video is pretty annoying. Use a less shallow lens and just fix the focus. We don’t need bokeh for this kind of video.

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1. Real-Natural
  
  January 27, 2023
  
  Lumix haha
  
  Reply
2. Alien Drone Services
  
  January 27, 2023
  
  Or switch to Sony (and adjust the settings accordingly).
  
  Reply
Afzal Shaikh

January 27, 2023

This video is gold 🤯

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Radium3D

January 27, 2023

Just curious was the poll sent to just single family homes? Do you have a link to the source of your data?

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Bert Hogendoorn

January 27, 2023

Funny you should mention used Evs, I started the EV pruchase process with a offer from one of my normal dealers bringing in used Leafs to resale, and they were CA specials. Good thing I did not take any as they all had significant battery degradation (due to CA and AZ heat) and no Canadian warranty (warranties are country specific). Just happened that the same week I was about to make an offer, the dealer told me why not buy a brand new 2019 Soul EV (luxury model w/o glass roof). Kia was offering CAD$4,000.00 off list, and Canada just started it EV credit program of -$5,000.00 off new EV purchases and so did the BC Provincial Government another -$5,000.00 off (both are point of sale credits). At the end of the day I traded that car for a Brand New 2023 Ioniq 5 (Canadian Limited equivalent model) and they payed $4,000.00 over my cost purchase price! Not all is roses though, my 2023 Ionic 5 still cannot fast DC charge (that was the reason we bought it for long road trips) as we also have a 2020 Kia Soul EV Limited (64KWH) for local driving (it is actually ok for long trips but was being prudent as I was noticing line ups at the few DC chargers that were working, so waiting for a 18 minute charge is not painfull). So far the Hyundai dealer ordered a CCS / J1772 socket wiring harness assembly (it has what they though it needed a replacement DC pin temperature sensor), that took 10 weeks to order and install. next step is likely a CCU unit replacement Charging Control Unit, that will take another 8 weeks on order. Long story short, teh 2019 Kia Soul did not have maximum charge management so I had to buy a Level 2 WiFi smart charger to limit the daily charge to 80%, so as you gather I am a homeowner that had no issue with at home charging. Status of used Ev’s will become an issue in a few years, good point!

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