Deloitte survey: Gen Y buyers love hybrids

Gen Y consumers heavily favor hybrid gasoline-electric vehicles (57 percent) over pure battery electric vehicles (2 percent).

 

“Gen Y” consumers, defined as those ranging in age from 19 to 31, could be “the generation that leads us away from traditional gasoline-powered vehicles,” according to a recent survey by market research firm Deloitte’s. 59 percent of respondents said that they prefer an “electrified vehicle” over any other type. However, Gen Y consumers heavily favor hybrid gasoline-electric vehicles (57 percent) over pure battery electric vehicles (2 percent).

While it’s encouraging to see that young folks prize fuel efficiency (89 percent are considering a vehicle that gets better mileage), it’s plain to see that most of the respondents are still not clear on how electric vehicles work. According to Deloitte, “Gen Y respondents are married to the convenience of traditional gasoline-powered automobiles, strongly preferring powertrains that do not require plug-in recharging. Even with their overall preference for hybrids, Gen Y consumers still prefer a non-plug-in hybrid by a margin of more than two-to-one over a plug-in version.”

“Gen Y consumers also view hybrid technology as proven and reliable,” says Deloitte spokesman Craig Giffi. “Almost 6 in 10 Gen Y respondents prefer a hybrid over any other type of vehicle, while a mere 2 in 100 prefer a pure battery electric vehicle – demonstrating that Gen Y is familiar and comfortable with hybrid technology, but not so much with battery-only technology.”

The annual survey canvassed 1,500 consumers in the US, as well as 250 Gen Y consumers in China and 300 Gen Y consumers in Western Europe.

 

Image: Chevrolet