48 Percent of Consumers Interested in Purchasing a Plug-in Hybrid Electric Vehicle

Plug-in hybrid electric vehicles (PHEVs) are one of the most highly anticipated new product categories of recent years. Promising dramatically improved fuel economy over standard internal combustion engines, PHEVs are expected to drive significant benefits in the form of reduced carbon emissions and lesser dependence on foreign oil. According to a new survey from Pike Research, prospective consumer interest in the category is solid, with 48% stating that they would be “extremely” or “very” interested in purchasing a PHEV with a 40-mile range on a single charge.

“Plug-in hybrids match the driving requirements of most consumers we surveyed,” says managing director Clint Wheelock. “82% of respondents drive 40 miles or less per day, with an average daily driving distance of 27 miles.”

Other key findings of the survey are as follows:

• 85% of consumers stated that improved fuel efficiency would be an important factor when choosing their next vehicle.
• 65% of survey respondents interested in PHEVs expressed a willingness to pay a premium price, over and above the price of a standard gasoline vehicle, with an average premium of 12%.
• Consumers indicated that the availability of workplace, private, and public vehicle charging stations in their local area would be very important.
• 79% of consumers would be interested in investing in a fast-charging outlet for their home; however, willingness to pay is out of line with industry expectations.