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Bosch survey: U.S. new car buyers believe full-electric vehicles are moving mainstream

Acceptance and expectations of full-electric vehicles
- The auto industry must address high buyer expectations
- Range, time to charge and affordability are top purchase criteria
- Era of choice for powertrain options still relevant

DETROIT Jan. 10, 2017 – There is a growing acceptance and desire for full-electric vehicles, but high expectations for the technology the auto industry must address. Bosch, a leading global supplier of technology products and services, released a research study today based on a survey conducted among 1,000 U.S. based new car buyers, aged 18 and older, who purchased/leased at least one vehicle within the last five model years, and intend to purchase/lease a new vehicle again.

New car buyers believe full-electric vehicles are coming…and soon
According to the study, new car buyers show an increasing willingness to adopt full-electric vehicles in the near future. Specifically,
- 62 percent of new car buyers believe they will own at least one full-electric vehicle in their household within 10 years or less
- Of those who anticipate having a full-electric vehicle in their household at any point in their lifetime, 71 percent believe all of their household vehicles will be full-electric vehicles within 15 years

Further, 62 percent of new car buyers would be interested in purchasing a fullelectric vehicle at an additional cost of $10,000 (after tax credits) over the same vehicle with a gasoline engine.

The auto industry must address the high expectations of new car buyers
While new car buyers are open to the idea of owning a full-electric vehicle, there are considerably high expectations that the auto industry must address. As the research showed, existing new car buyers’ perceptions do not match the current production of and options for full-electric vehicles as well as capabilities of today, particularly in terms of range and time to recharge.

- Expectation: New car buyers think today’s full-electric vehicles travel approximately 300 miles on a single charge
- Reality: Today’s full-electric vehicles travel less than 200 miles on a single charge
- Expectation: New car buyers want full-electric vehicles to travel approximately 400 miles on a single charge
- Reality: Today’s full-electric vehicles travel less than 200 miles on a single charge
- Expectation: New car buyers expect it takes eight hours to fully charge
an electric vehicle from a standard household outlet

- Reality: It takes eight-22 hours to fully charge an electric vehicle from a standard 110-volt household outlet
The top five full-electric vehicle purchase criteria
The survey further revealed new car buyers’ top purchase criteria for full-electric vehicles, which consisted of

1. Reliability
2. Distance between re-charging stops
3. Time required to re-charge
4. New car purchase price
5. Cost of repair/maintenance

These top five criteria were followed closely by costs to re-fuel and insure.

The era of choice remains

Despite the growing acceptance of full-electric vehicles among new car buyers, a significant subset of respondents, 32 percent, indicated they are not interested in purchasing or leasing a full-electric vehicle within the next 15 years, signaling a preference toward other powertrain options.

As consumers decide between traditional gasoline powered vehicles and fullelectric vehicles, Bosch is primed to continue offering advanced solutions for multiple powertrains. Ultimately, this allows consumers the freedom to choose what’s best for their lifestyle.

“For more than 130 years, we’ve been ahead of the curve in providing our customers with the most advanced powertrain technology,” said Mike Mansuetti, president of Robert Bosch LLC. “So whether customers desire a traditional internal combustion engine, a full-electric vehicle, or a hybrid of the two, automakers continue to turn to Bosch for the leading technologies for the powertrains of today – and the future.”

About Bosch
Having established a regional presence in 1906 in North America, the Bosch Group employs some 31,000 associates in more than 100 locations, as of December 31, 2015. In 2015, Bosch generated consolidated sales of $14 billion in the U.S., Canada and Mexico. For more information, visit www.boschusa.com, www.bosch.com.mx and www.bosch.ca.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of $78.3 billion (70.6 billion euros) in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at roughly 118 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”
Additional information is available online at www.bosch.com, www.bosch-press.com and twitter.com/BoschPresse.
Exchange rate: 1 EUR = $1.1095

Bosch NAIAS Research Release - January 2017

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