EY Mobility Consumer Index 2022 study - May 2022 EY Knowledge analysis
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EY Mobility Consumer Index 2022 study EY Knowledge analysis May 2022
Prepared by
Gaurav Batra Ankit Khatri
AM&M Analyst Team Leader EY AM&M Analyst EY Knowledge
Knowledge
Akshi Goel Menaka Samant
AM&M Analyst EY Knowledge AM&M Analyst EY Knowledge
Page 2EY MCI 2022 study
Launched in 2020, the EY Mobility Consumer Index (MCI) is an annual
study that provides unique insights on the shifts witnessed in travel
patterns and mobility mix in the post-COVID-19 world.
Based on a global survey of respondents, the MCI also aims to gauge
car-buying intent, analyze the pace of shift toward the adoption of
electric vehicles, and assess consumers’ car-buying journey.
Survey details
Conducted in
18 ~13k
Australia Italy New Zealand Sweden countries respondents March 2022
Canada India Norway UK
China Japan Singapore US Themes covered
France Mexico South Korea
Electric Car buying
Germany Netherlands Spain Mobility/travel
vehicles and and Retail analysis
behavior
sustainability powertrain
Countries added in the 2022 study
Source: EY MCI 2022 study, EY Knowledge analysis. Survey conducted in March 2022
Page 3Executive summary: EY MCI 2022 study
Mobility shift ahead Buying boom beckons Electric car’s the star
9% decline in overall travel compared with pre-COVID-19 45% of consumers intend to buy a car (32% prefer a 52% of car buyers prefer an EV* for their next
new car, 13% prefer a used car), up 12% points from purchase; there was a 3x growth in preference for fully
Overall travel Work travel Non-work travel
the 2020 study electric cars from 7% in 2020 to 20% in 2022
52%
50% 45%
33% 41%
-9% -8%
-11%
2020 2021 2022 30%
~2x growth in respondents working from home at 21%
16% 19%
least 3 to 4 times a week
63% plan to buy a car in the next 12 months 12% 20%
7%
63% 37% 7% 10% 10%
17% 31% 2020 2021 2022
Within 12 months 12 to 24 months
Fully electric / Fully Plug-in Hybrid
Before COVID-19 Now China, India and Mexico are expected to lead the car- plug-in hybrid electric hybrid
/ hybrid
Public transport saw the greatest decline in journeys buying activity
owing to heightened safety concerns China 75% Environment continues to be the top motivator for
Public transport -13% India 74% consumers buying an EV
Car rental 3% Mexico 66% Environmental concerns 38%
Car sharing/clubs -1% Spain 51%
Rising penalty on ICE 34%
Cab/taxi -6% United States 48%
Micromobility -9% South Korea 47% Lower cost of ownership 25%
Personal two-wheeler -10% UK 44% Monetary incentives 25%
Personal car -11% Norway 44% EVs now have longer range 24%
Source: EY MCI 2022 study, EY Knowledge analysis. *EV includes fully electric, plug-in hybrid and hybrid powertrains. Survey conducted in March 2022.
Page 4Executive summary: EY MCI 2022 study
Chargers aren’t home yet Physical touchpoints are here to stay Multi-channel on rise
A lack of charging stations replaced high upfront cost While digital channels are gaining prominence, in- Consumers are actively adopting digital channels
as the top inhibitor to purchase EVs personal experience will remain important for pre- seeking information, price transparency and enhanced
Lack of charging stations in purchase testing, final purchase (both new and used experience
34% cars) and aftersales services Use of digital channels for car purchase
your city/route
26%
Range anxiety 33% of car buyers prefer to interact with a 18%
Upfront cost 27%
63% salesperson at a dealership to gather
information
2021 2022
Absence of adequate home/ Digital sales and service models will continue to evolve,
26%
work charging infrastructure driven by tech advancements
of new car buyers prefer to purchase a
Charging/running cost 26% 64% vehicle from a dealership/showroom
of car buyers prefer to use
~80% of EV owners use home charging, indicating a
66% apps/websites/social media to gather
information about a vehicle.
strong need for home charging infrastructure
of used car buyers prefer to purchase a
28% 32% 21% 12% 7%
39% vehicle from a dealership/showroom
opted for a price calculator as the
59% most popular online tool.
Daily Multiple times a week
Once a week Occasionally
Never
51% prefer dealers for car servicing Potential EV buyers are more likely to use online tools
Shopping centers and retail locations emerge as the such as price calculators and car configurators
most preferred nonresidential charging location. compared with ICE buyers.
Source: EY MCI 2022 study, EY Knowledge analysis. Survey conducted in March 2022
Page 5Key takeaways: EY MCI 2022 study
Evolving role of dealerships and
Consequence of shifting mobility choices Key to achieving sustainable EV future
multichannel retail
• Overcoming the satisfaction gap is a major • To capitalize on strong consumer interest in • While dealers play a key role currently, to
challenge for city transport authorities, EVs, automakers and dealers need to remain at the front-of-mind will require a
with sustainable transport a key plank in rethink their dialogue with consumers and better understanding of the customer
climate change initiatives. develop new messages, relationships and decision journey.
tools to bring the EV experience to life.
• A “carrot and stick” approach may yield • OEMs and dealers need to develop new
results, with 46% of consumers saying that • Smart new finance packages and ownership ways of making the first contact – be it
free public transport would reduce their models are imperative to prevent the digital or physical - and smoothly manage
usage of private cars, and 38% saying that emergence of a damaging social divide, the transition between online and offline
urban traffic charges would lead them to providing affordable EVs for both low- and channels.
take fewer journeys by car. high-income groups.
• Dealers need to reinvent themselves as
• Many city transport authorities – under • Government, OEMs and charging providers trusted expert advisors, to not only
severe financial pressure after months of should collaborate to develop national maintain existing revenues but also take
reduced passenger revenues – may be charging plans. Greater interoperability and advantage of new opportunities as they
tempted by the revenue potential of road transparency will help allay related fears. arise.
usage fees, which could act as a hedge
against falling incomes from vehicle and • OEMs also need to focus on repurposing
fuel taxes as EVs become prevalent. and reconditioning of EV battery packs as
wheel-to-wheel sustainability calls for a
holistic focus on the EV lifecycle.
Source: EY MCI 2022 study, EY Knowledge analysis. Survey conducted in March 2022
Page 6Respondent demographics
Countries surveyed (18) Age group Income
China 1002
Gen Z 12% Low income 31%
India 1002
UK 1000
Millennials 29%
Australia 1000
Medium income 57%
Germany 1000
Gen X 25%
United States 1000
Canada 1000 High income 12%
Boomers 34%
Mexico 1000
Japan 1000
Spain 503 Area of Residence Gender
France 502
City center 32% Male 50%
Netherlands 501
New Zealand 500 Suburbs 19%
Norway 500 Female 50%
Italy 302 Small town/rural areas 20%
Singapore 302 Nonbinary/third gender 0.3%
Medium-sized city 19%
Sweden 300
I would prefer not to
South Korea Small city/town 11% 0.1%
300 answer
Source: EY MCI 2022 study, EY Knowledge analysis. No. of respondents: ~13,000. Survey conducted in March 2022.
Page 7EY | Building a better working world EY exists to build a better working world, helping to create long- term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com. © 2022 EYGM Limited. All Rights Reserved. EYG no. 004733-22Gbl CRS_CP_17950695 ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, legal or other professional advice. Please refer to your advisors for specific advice. ey.com
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