Park+ has released a report based on a recently conducted survey, revealing key findings from a survey focusing on the experiences of electric vehicle owners in India. The survey included responses from 500 EV car owners in Delhi NCR, Mumbai, and Bangalore. According to data from the Federation of Automobile Dealers Associations (FADA), nearly 91,000 electric passenger vehicles were sold in India during the Financial Year 2023-24.
Key findings from the survey:
A significant 88 percent of EV owners cited charging anxiety as a primary concern, surpassing the more commonly discussed range anxiety.Many drivers preferred to limit their travels to short intercity trips under 50 km due to these challenges.
Moreover, 73 percent of respondents, maintenance costs were a major grey area. Many EV owners find it problematic that even local mechanics find it difficult to fix and EV. The inability to obtain second opinions on repair costs further compounded their concerns. Besides that, a substantial fall in the resale value of EVs was a worry for 33 percent of respondents. While the resale market for EVs is still developing, the current lack of standardized tests to evaluate battery quality, which constitutes 30 percent of an EV’s value, makes it difficult to assess their true worth. This uncertainty contrasts sharply with the straightforward valuation of ICE vehicles based on age and mileage.
Key findings from the survey:
A significant 88 percent of EV owners cited charging anxiety as a primary concern, surpassing the more commonly discussed range anxiety.Many drivers preferred to limit their travels to short intercity trips under 50 km due to these challenges.
Moreover, 73 percent of respondents, maintenance costs were a major grey area. Many EV owners find it problematic that even local mechanics find it difficult to fix and EV. The inability to obtain second opinions on repair costs further compounded their concerns. Besides that, a substantial fall in the resale value of EVs was a worry for 33 percent of respondents. While the resale market for EVs is still developing, the current lack of standardized tests to evaluate battery quality, which constitutes 30 percent of an EV’s value, makes it difficult to assess their true worth. This uncertainty contrasts sharply with the straightforward valuation of ICE vehicles based on age and mileage.
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On average, EV owners reported lower satisfaction compared to ICE vehicle owners, primarily due to everyday hassles. Notably, 51 percent of the surveyed EV owners expressed a preference for returning to ICE vehicles for their next purchase.
Popular models among buyers:
The Tata Nexon EV emerged as the most popular choice among current EV owners, with 61 percent favoring it. It was followed by the Punch EV at 19 percent. BYD also attracted attention, but respondents noted its higher pricing and limited test drive availability as drawbacks.
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