US: study sees EV buyers richer and younger than hybrid customers image

Data from a new study has revealed that hybrid owners tend to be older and less affluent than electric vehicle customers, with one in five usually having an income higher than $175, 000.

The new findings fall in line with other studies which revealed that Tesla’s Model S luxury electric sedan is usually bought by customers living in the nation’s wealthiest cities and regions.

“At first glance, one would imagine that consumers purchasing either a hybrid or electric vehicle would be nearly identical; both are environmentally conscious, are of similar ages and have higher income levels,” said Melinda Zabritski, senior director for Experian Automotive.

Still, according to the data-tracking firm, the differences are rather surprising: north of 50% of customers who buy a battery operated vehicle fall in the 36 to 55 years category, with only a quarter older than 56. On the other hand, close to half of the hybrid buyers tend to fall in the latter category.

“One possible reason for the disparity could be the growing popularity of the higher-end luxury electric models available,” says Zabritski.

That’s because the study found out that 21% of all electric vehicle owners have a household income that surpasses $175,000 – while hybrid buyers in this category only rise to 12%.