Kiwis Hold Off Buying Electric Vehicles
People are worried that the battery of an electric car wouldn’t last long enough.
29 October 2021
A new survey shows concern over battery life is the main reason Kiwis are putting off purchasing electric vehicles.
Only 11 per cent are lining up an electric vehicle (EV) for their next car purchase.
Of those who aren’t planning on buying one, 41 per cent said their top concern was battery life. The cost of the car was a concern for 18 per cent of those surveyed, and overall reliability put off 12 per cent of them.
Some 550 Kiwis took part in a survey by Trade Me Motors focusing on the future of motoring.
Kiwis are slow to convert
Electric vehicles have been on the scene here for about five years, but the survey shows many New Zealand motorists are still hesitant about electric vehicles, says Alan Clark, the head of Trade Me Motors.
“While we’ve seen recent findings suggesting that Kiwis will consider an EV, when it comes down to it, only 11 per cent of people said they would pull the trigger and buy an EV as their next vehicle.”
Clark says the cost is a “clear deterrent” to buying an electric vehicle.
“The average cost for an EV on-site in July was NZ$24,000, while the average price for a car on Trade Me was just NZ$16,000.”
There were few charging stations in New Zealand, particularly in the regions, and it also cost money to set up a charging station in your garage, Clark says.
But he expects sales to increase over time.
“There’s been a 71 per cent increase in the number of EVs being added to members’ watchlists on Trade Me in the last year,” he says.
First published 15 August, 2018
JUNO does not contain financial advice as defined by the Financial Advisers Act 2008. Consult a suitably qualified financial adviser before making investment decisions. This story reflects the views of the contributor only. Content comes from sources that JUNO considers accurate, but we do not guarantee that the content is accurate.
Informed Investor's content comes from sources that Informed Investor magazine considers accurate, but we do not guarantee its accuracy. Charts in Informed Investor are visually indicative, not exact. The content of Informed Investor is intended as general information only, and you use it at your own risk.