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Understanding Consumer Perceptions of Hybrid and Electric Vehicle Technologies in India

Understanding Consumer Perceptions of Hybrid and Electric Vehicle Technologies in India

  • August 2017
  • 81 pages
  • ID: 5075864
  • Format: PDF
  • By Frost & Sullivan

Summary

Table of Contents

Customers are More Receptive to Full Hybrids Than EVs as a Better Alternative Propulsion System Offering

This research is based on a 2017 survey conducted in 12 key Indian cities to study consumer awareness, price perceptions, benefits, concerns, and willingness to purchase alternative fuel technologies-namely, electric vehicles (EVs) and full and mild hybrid vehicles.

Full hybrid vehicles resounded with customers better compared to other types of vehicles considered for the study. Compared to EVs and mild hybrids, customers were found to be more receptive to the full hybrid’s benefits of additional fuel economy; they consider full hybrids as a better alternate propulsion system offering.

However, the overall awareness of full hybrids is moderately low, with customers in the northern and western regions being relatively more aware of this technology, and customers in the south being the least aware.
The study also assesses general consumer willingness to pay for EVs, full hybrid vehicles, and mild hybrid vehicles as per the difference in a premium over the cost of a regular ICE-based vehicle, priced at INR 10 lakh.

Key questions that this study will answer:
• What are the key buying factors for vehicle purchase in the Indian automotive market?
• What are the customer awareness levels and perceptions about hybrid/electric vehicles present in the Indian market?
• What are the key perceived benefits, concerns, and barriers related to the purchase of hybrid/electric vehicle technology in India?
• What is the level of consumer willingness to purchase a car with hybrid/electric technology? What differences in price are consumers ready to pay?
• What are the changes needed to alleviate the key misconceptions related to hybrid/electric vehicle technologies?

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