Features
26 sep 22

Typical EV buyer is in their early 40s

 The typical premium EV buyer is a man or woman in their early 40s, says a new study by Savanta and AEHRA. This result contradicts earlier research, which found that the average premium EV buyer was a man his 50s. 

In other words: the average age of consumers interested in buying a premium EV has decreased by a decade, and the most interested demographic now is the Millennial generation. 

Gender-equal

Asked whether they would seriously consider a premium EV the next time they bought a vehicle, 53% of men and 51% of women said this was “highly likely” – showing the interest in purchasing premium EVs is now gender-equal.

Looking at the different generations, those saying they were “highly likely” to purchase an EV next time around included

  • 44% of Gen Z’ers (18-25 years old)
  • 61% of Millennials (26-49 years old)
  • 47% of Gen X’ers (50-64 years old)
  • 37% of Boomers and earlier (>65 years old)

Seven types

Other significant findings from the study:

  • There are seven distinct types of “highly likely” premium EV buyers:
    • The All-Around Aficionado (on average, a 42-year-old car enthusiast and luxury-brand centric).
    • The buyer and Chooser (typically a 37-year-old car enthusiast and luxury-brand centric, looking for a personal touch).
    • The Prestige Pursuer (a 37-year-old luxury-brand centric, looking for a personal touch).
    • The Custom Car Chaser (a 51-year-old car enthusiast).
    • The Wanting Aspirational (A 42-year-old consumer looking for a personal touch).
    • Someone with Old-Fashioned Standards (Average age 56, digging the appeal of EVs).
    • A Time-Trusted Traditionalist (A 53-year-old car enthusiast). 

 

  • The need for an omni-channel customer experience. Yes, the use of digital buying apps is on the rise; but this will still need to be complemented by physical retail locations. 

The survey was completed by market researchers Savanta for AEHRA, a new, ultra-premium EV brand from Italy. It aims to market the AEHRA SUV and sedan (pictured) in 2025. 

Image: AEHRA

Authored by: Frank Jacobs