Americans still prefer gas vehicles over hybrid or EVs, study shows

(Reuters) – Americans still prefer to buy a standard gas vehicle over a hybrid or an electric vehicle even with the same price and features, a KPMG study said on Thursday.

Only one-fifth of people surveyed said they would purchase an EV over a gas-powered vehicle or hybrid vehicle.

The show of preference comes amid a global slowdown in demand for electric vehicles, resulting in global automakers such as Ford, General Motors and Mercedes rethinking their EV plans.

The study shows a gap in expectations between U.S. consumers and auto industry executives for EV charging times during road trips.

Sixty percent of U.S. consumers want charging in 20 minutes or less compared with 41% who are willing to wait longer according to auto executives, the study said.

The study also found fewer consumers are likely to pay for self-driving features and entertainment as compared to safety, Wifi and charging locator.

KPMG’s American Perspectives Survey includes auto insights as part of a broader KPMG cross-industry survey of 1,100 U.S. adults nationwide on the economy and changing consumer preferences.

(Reporting by Kannaki Deka in Bengaluru; Editing by Arun Koyyur)