{"id":223210,"date":"2024-04-12T12:47:35","date_gmt":"2024-04-12T12:47:35","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/12\/detroits-ev-miscalculation-revealed-buyers-want-cheap-sedans-not-expensive-trucks\/"},"modified":"2025-06-25T17:18:44","modified_gmt":"2025-06-25T17:18:44","slug":"detroits-ev-miscalculation-revealed-buyers-want-cheap-sedans-not-expensive-trucks","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/12\/detroits-ev-miscalculation-revealed-buyers-want-cheap-sedans-not-expensive-trucks\/","title":{"rendered":"Detroit\u2019s EV miscalculation revealed: Buyers want cheap sedans, not expensive trucks"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/04\/GettyImages-2113290933-e1712925240556.jpg?w=2048\" \/><\/p>\n<div data-cy=\"article-content\">\n<p>Compatibility problems may be to blame for the\u00a0<a href=\"https:\/\/www.emergingtechbrew.com\/stories\/2024\/04\/04\/q1-2024-auto-sales-evs-tesla\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">recent bumps<\/a>\u00a0on the road to an electric future.<\/p>\n<div class=\"paywall\">\n<p>That\u2019s the takeaway from the 2024\u00a0<a href=\"https:\/\/www.edmunds.com\/car-news\/consumer-expectations-of-evs-clash-with-market-realities.html\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">Edmunds EV Sentiment Survey<\/a>, a new report that identified \u201ca significant disconnect\u201d between what car shoppers want from an EV versus what today\u2019s market has to offer.<\/p>\n<p>Edmunds found that:<\/p>\n<ul>\n<li><strong>Car buyers are looking for\u00a0<a href=\"https:\/\/www.emergingtechbrew.com\/stories\/2024\/02\/28\/EV-prices-falling-KBB-Tesla-Cox\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">more affordable options<\/a><\/strong>: 47% of respondents reported seeking an EV below $40,000, while 22% said they were interested in EVs below $30,000. The rub is that \u201cthere are no new EVs with an average MSRP below $30,000, and there are only four below the $40,000 mark,\u201d per the report.<\/li>\n<li><strong>The market isn\u2019t aligned with the types of models buyers are looking for<\/strong>: Edmunds reported that 43% of respondents who were interested in an EV want a sedan, and 42% \u201cwould consider an SUV\/crossover,\u201d while \u201conly 10% would consider a truck.\u201d The EV market, meanwhile, has a glut of electric trucks on offer, from the Tesla\u00a0<a href=\"https:\/\/www.morningbrew.com\/daily\/stories\/tesla-delivered-cybertrucks-claimed-bulletproof\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">Cybertruck<\/a>\u00a0to the\u00a0<a href=\"https:\/\/www.emergingtechbrew.com\/stories\/2023\/08\/16\/ford-s-ceo-hits-route-66-picking-up-ev-charging-etiquette-and-insight\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">Ford F-150 Lightning<\/a>. Edmunds dubbed the electric truck market \u201cbloated.\u201d<\/li>\n<li><strong>Some of the car brands that consumers trust the most don\u2019t have many EV offerings on the market<\/strong>. <a href=\"https:\/\/fortune.com\/company\/toyota-tsusho\/\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">Toyota<\/a>, for example, was ranked third by respondents when asked which company they trust the most. But the Japanese automaker sells just one EV in the US.<\/li>\n<\/ul>\n<p>Bottom line?<\/p>\n<p>\u201cThe electric vehicle market is growing, but consumers have enough reservations about the current options and\u00a0<a href=\"https:\/\/www.emergingtechbrew.com\/stories\/2024\/03\/25\/us-ev-adoption-slow-jato-flo-charging\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">charging infrastructure challenges<\/a>\u00a0to limit more significant growth in the short term,\u201d Jessica Caldwell, Edmunds\u2019 AVP of insights, wrote.<\/p>\n<p>Meanwhile, another recent report identified a gap in EV owners\u2019 knowledge of local utility programs that could support their at-home charging experience.<\/p>\n<p>That\u2019s one finding from J.D. Power\u2019s 2024 US Electric Vehicle Experience\u00a0<a href=\"https:\/\/www.jdpower.com\/business\/press-releases\/2024-us-electric-vehicle-experience-evx-home-charging-study?_hsenc=p2ANqtz-_iLlU8Bu_F7f-QZG5kCq-lm0Q5eAddZEs-Id5yAnnn5pw4gjFzZAtzk1ip0lim7LpZTDpjmvPqX06aXNAjzt95jB9ipQ&amp;_hsmi=299868931\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">Home Charging study<\/a>, which surveyed 15,617 owners of battery-electric and hybrid vehicles on their satisfaction with three different types of home chargers.<\/p>\n<p>The survey found that nearly half of respondents were \u201cunaware of the programs offered by their electric utility.\u201d J.D. Power noted that it\u2019s \u201cin the interest of both automakers and home charger manufacturers\u201d to educate consumers on utility programs such as ones that offer financial incentives for installation.<\/p>\n<p><em>This report was <a href=\"https:\/\/www.emergingtechbrew.com\/stories\/2024\/04\/11\/edmunds-ev-sentiment-survey-2024-jd-power?utm_source=fortune&amp;utm_medium=syndication&amp;utm_campaign=feed\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">initially published<\/a> in <a href=\"https:\/\/www.emergingtechbrew.com\/\" target=\"_blank\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">Tech Brew<\/a>.<\/em><\/p>\n<\/div>\n<div class=\"sc-83cd12c6-0 gjLFAy article\" data-cy=\"subscriptionPlea\">Subscribe to the new Fortune CEO Weekly Europe newsletter to get corner office insights on the biggest business stories in Europe. <a href=\"https:\/\/fortune.com\/newsletters\/ceo-weekly-europe?&amp;itm_source=fortune&amp;itm_medium=article_tout&amp;itm_campaign=ceo_weekly_europe\" target=\"_self\" rel=\"noopener\" class=\"sc-d963e821-0 eclfSM  \">Sign up<\/a> for free.<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/fortune.com\/2024\/04\/12\/electric-vehicles-what-buyers-want-cheap-sedans-not-trucks\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Compatibility problems may be to blame for the\u00a0recent bumps\u00a0on the road to an electric future. That\u2019s the takeaway from the 2024\u00a0Edmunds EV Sentiment Survey,<\/p>\n","protected":false},"author":1,"featured_media":223211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[149],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/223210"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=223210"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/223210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/223211"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=223210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=223210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=223210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}