Exploring Electric Vehicle Purchase Motivations and Aftermarket Opportunities

CTA has conducted this research to understand the electric vehicle (EV) market, including general sentiment, purchase drivers and opportunities for technology — specifically, aftermarket technology and services.

Specifically, this report aims to:

• Importance of EV purchase considerations (i.e., purchase price, safety, vehicle lifespan, tax incentives, stylish design, etc.)
• Purchase barriers (i.e., charging concerns, cost, reliability, safety, etc.)
• Functional needs, emotional needs and values that influence EV purchase decisions.
• Interest in aftermarket modifications, as well as perceived benefits of and concerns about adding features/upgrades post-purchase.
• EV enhancements and features consumers would like to see in the future, providing insight into potential aftermarket opportunities.

Published: October 2023

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