Digital Transformation Slows Down the Global Economy
Millennials Buys The Most Electric Vehicles In The United States
By Shubhendra Anand , 31 July, 2024
Electric vehicles are gaining momentum in 2024 due to the clean energy transition worldwide. Due to this transition, the energy market is experiencing new transformations at the industrial level. Adopting electric vehicles is one of the significant changes the automotive industry faces. Chinese electric vehicle production will grow at a faster rate in 2024. However, the United States ranks itself in a reputed position regarding the adoption rate of electric vehicles. Switching to different kinds of cars is technically and financially challenging for consumers. Industrial expectations are for electric vehicles to be on the road up to 80 percent by the end of 2025. Therefore, surveys found the acceptance rate of consumers regarding electric vehicles. According to the surveys in 2024, millennials are the emerging buyers of electric vehicles in the United States.
Electric vehicles currently face challenges in the industry due to various reasons. Lack of charging infrastructure and higher model prices lead to important challenges. However, a major challenge is the generation agreeing to adopt electric vehicles. The change from conventional to advanced electric vehicles and cutting-edge automotive technology attracts millennials and Generation Z the most. Based on a survey's data, these two consumers are buying the most electric vehicles in 2024. It is the present scenario of automotive advancement in the United States. Switching to electric vehicles requires ideological insights, too, leading to a generational change currently in the United States.
According to the data from surveys, 22 percent of United States consumers, comprised of those born between 1980 and 1994, prefer electric vehicles. This survey reveals that consumers born in this timeframe own electric vehicles, 10 percent of which are battery electric vehicles (BEV). Therefore, generational reason can be an essential factor affecting the sales of electric vehicles in 2024.
Electric Vehicles Sales In 2023
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Shubhendra Anand
Head Research
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