Despite headwinds, consumer confidence in EVs remains strong

Electricity costs are soaring, component shortages are hampering production, and wait times for new models are stretching into many months—today’s electric vehicle (EV) market is not without its obstacles. Despite the near-term challenges, many players remain decidedly bullish on the sector’s outlook.

For EY, much of that is down to consumer attitudes. The consultancy published its latest Mobility Consumer Index (MCI) in May 2022. The survey, which is now in its third year, tracks consumer mobility patterns and buying intentions. This latest version reflects feedback from nearly 13,000 consumers across 18 countries. For the first time, more than half of respondents (52%) who intend to buy a new car say they will choose either a fully electric, plug-in hybrid or hybrid vehicle. That number is up almost 11% from 2021’s survey, and almost 22% from 2020.