Study Results: Interest in Electric Cars Decreases, Global Consumers Look Back to Gasoline Engines

JAKARTA - The transition of the automotive industry to electric vehicles (EV) turns out not to be as smooth as imagined. Global consumer sentiment actually shows the opposite direction.

Recent studies reveal that more and more prospective car buyers are looking back at internal combustion engine (ICE) vehicles. As a result, some of the momentum of the EV that had been strengthened is now beginning to erode.

A report by professional services firm EY noted that the pace of electric vehicle adoption has slowed in various parts of the world. One of the triggers is policy changes in a number of countries, including the United States, which are considered to be more friendly to conventional vehicles.

As reported by Carscoops, Saturday, December 13, in a survey of consumers who plan to buy new or used vehicles in the next 24 months, about half of respondents said they intend to choose an internal combustion engine car.

This figure jumped 13 percent compared to the previous year, marking a fairly sharp shift in preferences. Not only that, interest in pure battery-based electric cars has also experienced a significant decline.

EY noted that consumer preference for EVs fell by 10 percent, so now it is only in the range of 14 percent globally. Hybrid models are also not immune from declining interest.

Consumer interest in hybrid vehicles has declined by 5 percent and is now at 16 percent. In fact, among consumers who are still considering EVs, about 36 percent say they are reviewing their decisions or delaying purchases.

Geopolitical factors are said to be one of the main reasons behind the wait-and-see attitude. This trend has the potential to continue as policy directions change.

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Less than a year since President Donald Trump began his second term, a number of policies that are more beneficial to internal combustion engine vehicles have begun to be implemented. These measures are expected to affect consumer behavior as well as the production strategies of automotive manufacturers in the next few years.

Earlier this month, the United States government officially revoked the Corporate Average Fuel Economy (CAFE) standard. The policy opens up room for manufacturers to produce more internal combustion engine models.

The manufacturers reasoned that this policy was in line with market demand, given that the majority of American consumers were still more comfortable with conventional cars than electric vehicles. Similar adjustments are also beginning to be seen in Europe.

Two years ago, the European Union announced plans to ban the sale of new fossil-fuel vehicles by 2035. However, recently, the discussion to loosen the rules has strengthened.

If realized, this relaxation will open up opportunities for hybrid vehicles as well as internal combustion engine cars that use synthetic fuels or e-fuels to continue to be sold after 2035. The impact, the sale of electric vehicles in the European region has the potential to be depressed, marking a new chapter in the dynamics of the global automotive transition.

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