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.
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)
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.