A new survey published by Deloitte finds that consumer interest in purchasing an electric vehicle has picked up in recent months.
Government officials and some experts like to question the demand behind the electric car revolution, but new data from Deloitte shows that demand has never been stronger.
According to the survey, up to 1 in 3 Americans and almost half of Europeans would prefer their next car to be electric.
Besides this general interest, Deloitte has found some other vital trends that show just how strong the demand for electric vehicles is.
First, Deloitte found that many consumers had been nervous about owning an ICE internal combustion vehicle for a long time.
The survey found that more than half of all respondents were concerned about the "residual value risk" of owning an ICE vehicle.
While Deloitte's findings may seem extreme, results found in other surveys, especially those focused on younger audiences, corroborate the new findings.
Moreover, this intention appears to have led to actual purchases around the world, as automakers like Tesla have seen a boom in electric vehicle sales in recent months.
But what are the factors that have contributed to the recent push of consumers towards electrification?
Ignoring the regulations that were put in place to ban internal combustion engine vehicles by the mid-2030s in most parts of the Western world, the macroeconomic conditions for electric vehicles to thrive were also created.
Fuel prices in Europe and North America remain high compared to late 2020, electric vehicle incentives in many parts of the world are still in place to help consumers, and new incentives for suppliers have been put in place, helping to make electric vehicle production cheaper than ever.