Look for the color purple to find EV buyers

1200px-2016_Presidential_Election_by_County_(Red-Blue-Purple_View).jpgInterestingly, but perhaps of no surprise, is that there is a correlation between EVs and political party affiliation with our research indicating that registered Democrats purchase more EVs than those that claim their political affiliation as a Republican. For example, roughly 40% of EV buyers (heavily influenced by Tesla) that were surveyed in the fourth quarter of 2018 claimed they leaned left politically, 43% in the middle and 17% to the right. Overall, roughly 70% of all EV sales occur in blue congressional regions. 

In addition to political beliefs, blue regions generally have a higher concentration of affluence and urban areas, which also contribute to a higher demand for EVs. Wealthier consumers have the ability to pay the higher prices associated with EVs and the urban areas have better charging infrastructure to support them and drivers that incur fewer miles.

 

EV sales distribution in the United States:
 
Blue congressional regions              68.2%
Red congressional districts              31.8%
                  
(Plug-in/Plug-in hybrid vehicles only/Excludes other alternative powered vehicles)

Iceology BEV Buyer Pulse, December 2018

 

While blue regions generate substantial sales for EVs, it’s the regions that are moving from red to purple that will provide the most opportunity for future sales growth. Purple regions are generally clustered in the Southwest and Southeast where population growth is booming with transplants from blue regions on the west and east coast. These transplants are generally younger and are working for a variety of employers that have also transplanted from these regions in a bid to escape the rising cost of conducting business. 

 

Want to know more about how we can help you and your business? Check us out at iceology.com

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