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How different is the psychology of the people from different countries in the EV market?

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Japanese consumers

  1. In a 2020 survey by the Japan Automobile Manufacturers Association, 90% of respondents are environmentally conscious and choose a car depending on such performance.
  2. As per Bain & Company, 2021 survey, 78% of Japanese car buyers tend to be risk-averse and value-proven technology. They prioritize reliability and safety.
  3. As per a 2019 survey by Marklines, 78% of Japanese consumers were worried about range limitations in Japan and its limited charging infrastructure.
  4. As per a 2021 Deloitte study, only 10% of Japanese consumers are ready to pay a premium for electric vehicles.
  5. Loyalty is strong among the Japanese towards domestic brands.

So, Japanese consumers are environmentally conscious and try to prioritize reliability and safety more.

Consumers in the USA:-

  1. As per a Pew Research survey, 79% of Americans indicate a climate change has more impact on choosing EVs.
  2. As per Cox Automotive research, Americans are willing to pay for an EV is $36,000. So we can say they are price-sensitivity
  3. As per an AAA study, 40% of Americans persist in the range and hesitate with limited charging infrastructure.
  4. As per the car sales review in 2021 per Edmunds, Pickup trucks and SUVs dominate the preferences.
  5. Tesla also shaped the EV market to be exciting, futuristic, and high-tech.

So, we can American consumers are more inclined towards affordability and familiarity.

German consumers

  1. As per various surveys, 90% of Germans are environmentally conscious.
  2. Germans are also appreciative of well-engineered, high-performing electric vehicles.
  3. Luxury brands are appealing to Germans such as Mercedes, BMW, and Audi.
  4. As per a study, 75% of Germany worries about EV range limitations.
  5. Government incentives also influence the adoption of EVs.
  6. Brand loyalty is also deep among the Germans to adopt the EVs for loyal customers.

So, we can say, that German consumers are highly environmentally aware, affinity for advanced engineering, and loyal to domestic automakers.

Norwegian Consumers

  1. A survey result shows 95% of Norwegians are concerned about climate change, driving EV demand.
  2. Numerous government incentives such as exemption from taxes, and road tolls for EVs are substantial.
  3. Charging infrastructure is robust to alleviate the range anxiety.
  4. 98% of Norway’s domestic electricity is from clean hydroelectric sources.
  5. Tesla brands are seen as eco-friendly and are excelling followed by Polestar,
  6. It is surprising but Automakers with oil industry connections such as Volkswagen are not as appealing as the pure electric vehicle, Tesla.

So, an environmentally progressive brand, with proper incentives resonates with the Norwegian consumers more. Norway consumers strongly support EVs because of ecological motivations, and clean grid energy.

Chinese consumers

  1. Around 70% of Consumers in China are concerned about air pollution in larger cities, showing an attraction to EVs to tackle such problems.
  2. Chinese consumers are selective, valuing brands with reputations for quality, safety, and performance.
  3. Luxury vehicles and premium brands are appealing to Chinese consumers as status symbols such as Tesla and Nio.
  4. Government incentives also boost the purchase of EVs.
  5. Nationalistic sentiments for domestic brands provide an edge over foreign rivals.

So, we can say, that the Chinese are eco-aware, proven quality, and status symbol appeals to them more.

Indian consumers

  1. As per Capgemini’s research, over 75% of Indian consumers are sensitive to cost.
  2. As per the EY report, 65% of Indians are environmentally aware and concerned about air pollution.
  3. As per Tata Motors’ study, 87% of Indian consumers are anxious about the range of EVs.
  4. Preference is more to proven, established vehicle technologies over innovations, not proven but observed.
  5. India’s FAME subsidy program, toll exemptions, and other incentives influence positively EVs.
  6. The key consumer priorities are frugality maximizing value and promoting operational cost savings through lower fueling rates resonating strongly.

So, it means, Indians are highly cost-conscious and choose to be with established vehicle technologies rather than trying innovations.

South Korean consumers

  1. A 2021 survey found over 80% of Koreans are willing to pay more for an eco-friendly vehicle.
  2. Koreans are tech-savvy and focused on early tech adopters.
  3. Over 80% of car sales in South Korea are from Domestic brands.
  4. Range anxiety is diminished due to heavy investment in the charging infrastructure.
  5. Government subsidy incentives lower the cost barriers and positively sway consumer perceptions.
  6. Limited parking and congestion influence compact car domination more and it is affordable more.

So, in all South Korean consumers are technophiles and not afraid to pay more for an eco-friendly vehicle.

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