Deloitte Vice Chairman and Automotive Practice Leader Craig Giffi (pictured) has claimed that ‘generation Y’ consumers have demonstrated a marked enthusiasm for hybrid cars, car more so than pure EVs. According to a survey released by Deloitte, members of generation Y (those aged from 19 to 31) demonstrated a marked preference for hybrid gasoline-electric cars: 57% of respondent favoured hybrids over both gasoline-only and pure electric vehicles, favoured by 37% and 2% of respondents respectively.
The survey, currently in its fourth year, canvassed consumers across the United states and China from both ‘generation y’, ‘generation x’ and the ‘baby boomer’ generation. Commenting on the report, Craig Giffi noted that American ‘generation y’ members represent one of the biggest domestic automobile buying market segments and the largest consumer segment since the baby boomers. According to Deloitte projections, 40% of vehicles sold over the next decade will be bought by a ‘generation y’ consumer.
Better mileage was a key attraction of hybrid cars, with 89% of respondents citing it as a factor. 49% of generation y consumers were prepared to pay $300 for each mile-per-gallon improvement delivered by a hybrid car, only $50 less than the $350 mile per gallon premium that hybrid cars currently carry, according to Deloitte.
Unveiling the preliminary results of the survey at the Shifting Gears conference in Detroit, Giffi noted that the popularity of hybrid vehicles far exceeded that of vehicles powered solely by electricity. "Almost six in ten Gen Y respondents prefer a hybrid over any other type of vehicle, while a mere two 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," he remarked.
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