Home » The EV Adoption Curve May Be Slowing

The EV Adoption Curve May Be Slowing

Morning Dump Ev Adoption
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The process of EV adoption has been hard over the past decade, but it could get even harder over the next few years. Recent data suggests that underneath overt EV polarization, genuine consumer consideration for an EV as their next purchase is shrinking, and the fundamental reasons for the latter are incompatible with the current state of the electric car market in America. We’ll break down the latest Deloitte survey for you, condensing it into some key insights you should know about.

Oh, and speaking of things powered by electricity, CES is going on right now and Mercedes has teamed up with will.i.am to get weird once again. Add in a recent report about Super Bowl ads from Stellantis, and we’ve got ourselves a nice variety of stories for The Morning Dump. Let’s dive into it.

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Going Electric: Now For The Hard Part

Deloitte Bev Preference 2

It’s 2024, and the electric vehicle segment is at a crossroads. At this point, early adopters have EVs, and the big challenge now is getting the average consumer aboard. Judging by the results of a recent Deloitte survey, that will be a difficult path to walk. As per Deloitte:

High interest rates and elevated sticker prices may be causing consumer interest in EVs to soften in some markets. Despite automaker price cuts and government incentives designed to make them more affordable, a variety of other challenges continue to stand in the way, including range anxiety, charging time, and availability of charging infrastructure.

If we look at historical survey data from Deloitte on the American market, battery-electric vehicle consideration is down two percent of total survey share since 2022, plug-in hybrid consideration is down three percent of total survey share since 2022, and series-parallel hybrid consideration is down four percent of total survey share since 2022. So what’s going on with this possible flattening of EV adoption sentiments?

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Deloitte Bev Range 2

Lets dig into some of the concerns and sentiments revealed in this survey, starting with range anxiety. America is a geographically gargantuan country, so it’s no surprise that range is a big concern. However, some respondents just aren’t down with the current reality of EVs. Nine percent of Americans surveyed expect a driving range of between 500 and 599 miles, 14 percent of Americans surveyed expect a driving range of 600 or more miles, and 17 percent of Americans surveyed “Would never consider acquiring a BEV.” There are zero 600-plus-mile EVs on sale in America, the only one to pip the 500 mark is the expensive Lucid Air, and no means no for the last 17 percent of people. Add all those numbers up, and the overwhelming majority of current EVs aren’t a consideration for 40 percent of Americans surveyed. Now that’s troubling for EV adoption.

Interestingly, America isn’t the only country with a high percentage of total disinterest in electric cars. A whopping 23 percent of Japanese respondents said they’d never consider a BEV, which is massive. Granted, the Deloitte report doesn’t break down how much EV adoption disinterest is ideological versus pragmatic, although it does claim that 43 percent of Japanese respondents didn’t have a way of charging an EV at home. Intriguingly, American respondents weren’t that far behind, with 40 percent citing lack of home charging.

Bev Survey Concerns 2

Here’s another interesting tidbit: Price sensitivity around EV adoption seems like it may be primarily a Western phenomenon. Only in Germany and America was EV pricing a top-three concern, not reaching the podium of concerns in China, India, Japan, Korea, or Southeast Asia. Considering China has a ton of cheap EVs, Japan is starting to get electric kei cars, and entry-level options are targeting emerging markets, the Deloitte data suggests automakers’ approach to focusing on premium EVs in Western markets is a misguided one. Forget being the next Tesla, someone needs to be the next Hyundai circa 1993.

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Let’s Get It Started In Here

Mercedes Benz Auf Der Ces 2024 Mercedes Benz At The Ces 2024

The Consumer Electronics Show is on right now in Las Vegas, and automakers are still rolling out tech at CES rather than traditional auto shows. We’ve already seen Volkswagen announced ChatGPT integration in Vegas, but Mercedes-Benz is also plumbing new depths in software shenanigans. The automaker has teamed up with Black Eyed Pea and guy who made his record debut on Eazy-E’s Christmas song will.i.am for what it calls Sound Drive, an app that lets drivers remix songs as they drive using their Benz’s primary controls. As will.i.am told TechCrunch:

Right now, still today, in 2024, people make music as if they’re still playing CDs, as if the main source of listening to music is vinyl,” he said. “Beyoncé and Taylor Swift told the world that live music is where the business is, and the only way to actually listen to live music is to go to a concert.” With Sound Drive, he said, that dynamic music experience will come from you — and your ride.

Mercedes’ Sound Drive app isn’t digital music production, but instead more like DJ-ing while driving. It’s an interesting concept that expands on what new and novel sounds we can expect electric cars to make, but I want to see automakers go harder. Who’s going to port a digital audio workstation like FL Studio over to their infotainment system first? Not only would music production be a great way to kill time while charging, being able to easily mix and master in a car, the place where a ton of people listen to the majority of their music, could have interesting results for amateur producers.

Stellantis Just Pulled Out Of The Super Bowl

If you’re looking forward to seeing cars in between seeing some of the best football players in America go HAM with a pigskin, I’ve got some bad news for you. The Detroit Free Press reports that all three Detroit Automakers — Stellantis, Ford, and GM — are pulling out of Super Bowl advertising for 2024. Stellantis is the last of those three companies to not run ads during this year’s big game, and it’s reportedly part of a big spending re-evaluation. As per the Freep:

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It’s the latest move by Stellantis to cut costs, following announcements that it won’t participate in upcoming shows like CES in Las Vegas or the Chicago Auto Show.

Of course, the official statement from the automaker is a bit longer than that. Stellantis spokesperson Diane Morgan told the Detroit Free Press:

With a continued focus on preserving business fundamentals to mitigate the impact of a challenging U.S. automotive market, we are evaluating our business needs and will (make) the appropriate decisions to protect our North America operations and the Company. In light of this assessment, we will not be participating in the Big Game this year.

I’m not saying massive oversupply of several models has something to do with Stellantis driving to cut costs, but not moving enough metal may have something to do with it. Chrysler, Jeep, Dodge, Ram, Fiat, Alfa Romeo, and Maserati have run some absolutely epic Super Bowl ads in the past, from that one for the Ghibli to Dodge’s “Wisdom” spot to Chrysler’s famous “Imported From Detroit” commercial with Eminem, so we’ll miss the auto group’s presence in between plays. Mind you, with the cost of Super Bowl advertising in the millions, it’s hard to blame the company for deciding to skip this year.

What I’m Listening To During TMD Construction

Sometimes you need a morning pump-up song, and Pusha T’s magnificently malevolent “Let The Smokers Shine The Coupes” is as good as they come. With hard-hitting maximalist production from Pharrell and Ojvolta, and Pusha’s grimy yet opulent cocaine cowboy bars, it’s safe to say this track goes crazy.

The Big Question

Will you miss Detroit automakers’ presence during the broadcast of the Super Bowl? Although big-budget ads were smash-hits a decade ago, the impact of these obscenely expensive productions might not be the same today, and I’d love to hear your thoughts on it.

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(Photo credits: Deloitte, Mercedes-Benz)

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Dan Bee
Dan Bee
9 months ago

Of course the rate of EV adoption is slowing: while the BEVs on the market are great, there are holes in the market that lack affordable options or practical ones (although the Ram Ramcharger PHEV is about to enter the chat).

Bottom line: of the 25 best-selling vehicles in the U.S. today, how many have an affordable plug-in option or equivalent across all 50 states?

StalePhish
StalePhish
9 months ago

Nine percent of Americans surveyed expect a driving range of between 500 and 599 miles, 14 percent of Americans surveyed expect a driving range of 600 or more miles

They keep moving the goalposts it seems. I wonder if they even know the range of their current vehicle. Have many of these people even owned a gas powered vehicle with a 500 or 600 mile range? I sure haven’t, and I’ve owned over a dozen cars. I currently own 4 cars, two EVs and two gas (one 4 banger and one V8), and all of them have an EPA rated range in the 300s.

I see enough anti-EV stuff spread across social media that gives the impression that the average consumer still thinks EVs take multiple hours to charge, cost $60k+, and need a $20k battery replacement every 4 years if it doesn’t burn to the ground sooner.

Drew
Drew
9 months ago
Reply to  StalePhish

I own a PHEV with a 500+ mile range total, and when I really use that range (or anything above about 300), I end up feeling it in my entire body for a day or two. 300-400 miles seems like the sweet spot for range. Plenty to travel a good distance between stops, not so much as to require massive batteries/tanks, and encourages you to stop often enough to stretch and feel a little better.

Sure, I could learn to stop for my own good, but I know that’s not going to happen.

StalePhish
StalePhish
9 months ago
Reply to  Drew

Pretty much the longest I can drive before my bladder explodes is 3.5 hours (and even that can be pushing it), which is how long I need to go between charges in our new Model Y which has an EPA range of around 330 miles, so it works out great. I have definitely noticed that I’m not worn out as much after a 7+ hour drive these days, and early on it was especially noticeable in my forearms, so sitting down to eat a sandwich at the charging station versus bringing something in the car definitely helps the body.

Vic Vinegar
Vic Vinegar
9 months ago

I still see hybrids as the most overall practical way to spend my car dollar today. Use as little gas as possible, but still have the infrastructure available to refuel in a one stoplight town.

The Bolt is pretty much the only EV I’d consider, and even then the Prius looks like a more versatile package overall for the money.

MikeInTheWoods
MikeInTheWoods
9 months ago

How about solar generated Hydrogen for Hydrogen powered vehicles instead of all this throwaway and $$,$$$$ battery tech. My BEV is on it’s second pack and after that goes, the car is garbage. Why would I buy another?

Dinklesmith
Dinklesmith
9 months ago
Reply to  MikeInTheWoods

Hydrogen is less efficient and more expensive. It’s cheaper to just put the electricity directly into a battery. What are you driving that you’re already on battery pack number 2? Leafs are the only current EV with terrible batteries

MikeInTheWoods
MikeInTheWoods
9 months ago
Reply to  Dinklesmith

2016 Kia Soul EV. We are the second owner, but the first battery lasted from 2016-2023 and 40,000 miles. Thankfully the $14,000 bill went to Kia under warranty. But I can certainly say I’m not spending even half that for a replacement when it dies again. And it will. I feel like we have the car on borrowed time.

Dinklesmith
Dinklesmith
9 months ago
Reply to  MikeInTheWoods

That’s surprising, I didn’t know of Kia having battery issues outside of their LG recall. I would imagine that’s a fluke but I don’t blame you for being wary. If you have to foot the bill yourself, you can get junk yard or refurbished batteries for way cheaper

MDMK
MDMK
9 months ago

If the next generation of the U.S. middle class car buying public loses its interest in trucks and CUV’s while not going all in on BEV’s, Ford, GM and VW are screwed.

PaysOutAllNight
PaysOutAllNight
9 months ago

With the rise of streaming television and the way sporting events are slung across services I either have or don’t have a subscription to, I’m not even sure I’ll see any of the Super Bowl this year.

I’ll miss looking forward to it, but I expect that not watching the game will be no big deal for me.

WOV
WOV
9 months ago

S**t consumer consideration is only 3x supply!

Gene1969
Gene1969
9 months ago

If you want to expand the EV market to buyers, they need to make the automotive versions of Timex watches. They look and act like analog/windup watches but are fully electric.

Make a car with simple button and gages but runs on electricity and is as easy to recharge as an ICE is to fuel up, you got a winner.

MikeInTheWoods
MikeInTheWoods
9 months ago
Reply to  Gene1969

Exactly this, because I’m the guy who has had a Timex Ironman on his wrist for 20 years. The battery is able to be swapped out. Once there are standard EV battery packs that you can swap out at stations, it will be easy to transition over from a gas vehicle.

Gene1969
Gene1969
9 months ago
Reply to  MikeInTheWoods

Thank you.

Col Lingus
Col Lingus
9 months ago

The lack of US auto ads signals that they are watching controllable costs closely.
Big companies that do this often tend to be concerned with the overall state of the economy in general.
Read into this what you care to. But proceed with caution.

M K
M K
9 months ago

Regarding that 17% that wouldn’t consider an EV, I’m guessing we could dig up more than a few articles from 1908 that said the same thing about ICE vehicles. It always seems strange looking at a paradigm shift from within, but we’ll hit a point where that 17% stance seems as silly as an outhouse…So like an outhouse, ICE will still be around, it will still be useful in many specific situations, but given a choice, you wouldn’t use it daily unless you had to.

Space
Space
9 months ago
Reply to  M K

17% could be such a number as to encompass people over age 68 who don’t want to deal with EV and at this point in their life won’t have to.
And that’s OK.

Drunken Master Paul
Drunken Master Paul
9 months ago

“the Deloitte data suggests automakers’ approach to focusing on premium EVs in Western markets is a misguided one. Forget being the next Tesla, someone needs to be the next Hyundai circa 1993.”

This. Ford had a golden opportunity with the Lightning and completely shit the bed. I would not be surprised if all Ford execs are issued complimentary corporate branded brown bedsheets considering how often this is happening. They had the chance to OWN the basic EV work truck segment and opted for another rolling sports bar lounge few could afford, let alone take a chance on. Another poster pondered if Ford screwed that up on purpose, but don’t look for conspiracy when short sighted greed is right there waving at you.

China and Korea are going to completely eat everyone else’s lunch on EVs. I thought VW was going to Blue Danube up and clear the buffet, but they are making the same mista…OOO SHINY THING….kes. Dodge has a chance with the upcoming Ram Charger generator/battery setup to bridge the gap, but only if they start with a sub $40k version.

Seriously, when did the business model change from “let’s launch with the lower spec model and then people will upgrade when the premium version comes out” to ” Suffer you middle class peasants, only the Lords may purchase our wares. Forsooth!”

Last edited 9 months ago by Drunken Master Paul
My Goat Ate My Homework
My Goat Ate My Homework
9 months ago

People WANT the premium versions. They pass over the base models nearly all the time. Nobody I know chose a base model (and they had the choice). They want flashy, they want leather and Denali, they want the redline blackout edition, they want the lifted 4wd can tow a small home edition. It’s what people are buying. Nobody is buying basic, inexpensive stuff unless they absolutely have to, and even then, they will buy a used 7 yo escalade instead of a lower model.

I can find you an LT Bolt for like $32k BEFORE tax incentives, take it home today. That means like $25K out the door. I cannot find you a Yukon Denali or a Traverse Premier, that would need to be ordered, can’t keep those on the floor for more then a couple days.

DEcarTrouble
DEcarTrouble
9 months ago

If the Ford Maverick proved anything its that there is a group of people who are happy with base or just a step above. I see more base model Mavericks in my area than Lariat trim. Hyundai and Kia continue their rise because their premium is everyone else’s midgrade.

Caviar dreams on fish stick budget, isn’t always the answer.

My Goat Ate My Homework
My Goat Ate My Homework
9 months ago
Reply to  DEcarTrouble

I like those Mavericks. I haven’t seen one on the street with steel wheels yet though so no XLs around here unless they are all upgrading their wheels. If I didn’t need to tow a boat I would have liked to get one, or a Huyndai Santa Cruz.

I usually get less car with better options. More comfortable that way and I don’t need to supersize my ride to feel good about things. If I need to pull a house or take the entire soccer team out to a tournament I’m fine renting for a day.

DEcarTrouble
DEcarTrouble
9 months ago

I would love to get a Maverick and since I don’t tow often no a big deal for me. Would still upgrade the tow capacity because when I do 2k won’t cut it. The majority of the ones I see around me are the XLs, but have seen a few higher trim ones. I currently drive a Ram 1500 and the only reason I drive it and not get something better fuel wise is I got if on a killer deal (20K for a 2yo truck) and now it is paid off. I generally shoot for mid trim and option sparingly.

Pit-Smoked Clutch
Pit-Smoked Clutch
9 months ago

Isn’t that Ramcharger supposed to have a battery, electric drive system, engine, AND generator attached to that engine each capable of producing enough energy to pull like 10k lbs of trailer? It’s going to be $100k.

Drunken Master Paul
Drunken Master Paul
9 months ago

Yes. It’s basically the same design the diesel submarines, trains, cruise ships etc. have used forever. The ICE only generates electricity that the EV system uses for charging the batteries, driving the EV powertrain, or both. Upside is that there is no range anxiety and since the ICE only runs at optimal RPM it is more efficient. Downside is that there is a lot going on, it’s heavy, and as you point out it can be expensive. But unlike other plug in hybrids it will do 150 miles on electric only so most of the time the ICE won’t even be used, but if you still have a 600 mile range if needed and no charging station insanity to deal with. I agree, it will probably be $100k and we are again in Hard Pass territory. And Hyundai will shove a similar system in a Santa Cruz in 3 years and crush it.

TOSSABL
TOSSABL
9 months ago

So you can actually drive it with the ICE generating electricity to power the motors? I (perhaps mistakenly) understood that the ICE only charged the batteries, and the electric motor could not run while that was happening.

Dinklesmith
Dinklesmith
9 months ago
Reply to  TOSSABL

It’s the same system as the Chevy Volt, which is to say it’s just a series hybrid. Electric Motors drive the truck using electricity from the battery. The engine generates enough electricity to always keep the battery charged enough so that it’s not a problem. The battery maintains a small buffer to smooth out the gaps

TOSSABL
TOSSABL
9 months ago
Reply to  Dinklesmith

I was misinformed: thanks for setting that straight

Nathan
Nathan
9 months ago

They are taking an existing truck that costs $44k with the base engine and removing the 8 speed automatic transmission, which is a pretty expensive component no longer needed. Replacing that with a generator and electric motors that probably only cost slightly more. Then adding a $10,000 battery for which the government will pay $7500. My guess is $48,895 base advertised price, with the government portion being listed in the fine print.

Dinklesmith
Dinklesmith
9 months ago
Reply to  Nathan

The government doesn’t pay Ram though. The incentive is for the consumer and not everybody qualifies, especially if you’re wealthy enough to buy a full sized truck

Nathan
Nathan
9 months ago
Reply to  Dinklesmith

Technically the government pays the Ram dealer after the consumer signs a form stating that they do not make over the income limit

Dinklesmith
Dinklesmith
9 months ago
Reply to  Nathan

Technically the Ram dealer pays the government $7,500 less in taxes than they otherwise would have. The tax credit isn’t refundable, it just reduces taxes owed….which doesn’t make too much of a difference. Still, it’s not the automaker

Nathan
Nathan
9 months ago
Reply to  Dinklesmith

No dealer would participate if they had to wait until the end of the year. That is why the IRS made a special website for immediate payments.
“A licensed dealer will be able to receive advance payments 15 days after registering.”
https://www.irs.gov/credits-deductions/register-your-dealership-to-enable-credits-for-clean-vehicle-buyers

Pit-Smoked Clutch
Pit-Smoked Clutch
9 months ago
Reply to  Nathan

While I wouldn’t be too surprised for my off-the-cuff $100k number to be high, I think that’s optimistic. That transmission is made in volume, and you’d be shocked at just how much cheaper major powertrain components are to build in volume than to buy. Car and Driver projects that a base electric Ram with no range extender and the small battery will start at $58k. Ford’s cheapest electric truck is $55 or 60k, and there’s no range extender in that either. Adding any engine at all means there are going to be new materials costs for catalyst loading in the low 4-figure range.

Nathan
Nathan
9 months ago

The battery in the Ramcharger is still 1/2 the size of the small batter electric Ram. The engine being used is the old one that has been sold for nearly 20 years, and all of the engineering for fitting it into the truck has long been paid for. They are not making a range extender truck on a new platform. I could see them selling the base Ramcharger at the same $58k and getting better first year profit margins.

Attila the Hatchback
Attila the Hatchback
9 months ago

“Beyoncé and Taylor Swift told the world that live music is where the business is, and the only way to actually listen to live music is to go to a concert.”

I’m pretty sure people go to these concerts for the visual spectacle and being around other fans. Chances are, for a lot of these blockbuster artists in football stadiums, you are listening to a recording to begin with, not a live performance. Putting your car on cruise control and using your steering wheel to add record-scratchy sounds on top of your favorite Taylor Swift song does not seem like a winning proposition.

Trouthawk
Trouthawk
9 months ago

The increase in price for all vehicles is what steered me away from an EV last year. With new car prices getting so high, I ended up going to the used market to find something that met my needs. The idea of buying a 3-4 year old EV just makes me uncomfortable for a number of reasons, so I went ICE. Probably will be my last ICE though.

Dinklesmith
Dinklesmith
9 months ago
Reply to  Trouthawk

Just curious why that makes you uncomfortable? EV batteries routinely last 10-15, with liquid cooled typically being the latter end of that. A 3 year old EV is a hell of a deal right now

Ben
Ben
9 months ago

Won’t miss car company ads during the Super Bowl, both because Super Bowl ads peaked at least a decade ago and have been in steady decline ever since and because the car ads are almost universally cringey.

Mark E. Post
Mark E. Post
9 months ago

How many times does it need to be demonstrated, differently, that people don’t like to be told what to do or think, particularly when it comes from a government that can’t get their own shit in order? When EVs are available that make sense for more people, more people will buy them. Outside of a small minority that just “goes with the flow for the betterment of all humanity”, no one is biting their nose to spite their face. It’s that simple.

I don’t know why people insist this needs to be discussed ad nauseam.

DysLexus
DysLexus
9 months ago
Reply to  Mark E. Post

Strange thing is that people always want to tell everyone else what to do AND want the government to get involved for themselves.
“Now get off of my lawn or I’ll call the cops”

Drive By Commenter
Drive By Commenter
9 months ago

Everyone trying to out-Tesla Tesla is pointless and adds to the bloat. The infotainment doesn’t need all the bloatware that gets in the way of the car’s core mission: move my butt and my stuff from point A to B as efficiently as possible. Taking computing power to have food delivery on standby 24/7 or some ChatGPT weirdness means fewer electrons going towards shoving the car toward the destination. And one more point of failure. Recall the OTA infotainment update that bricked a bunch of electric Volvos. Just someone please make some well-sorted compact AWD CUV that happens to be electric!

As an aside, I’m really not a Luddite. I just can’t stand the current direction the EV market is going.

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