![Global: Do consumers toss out their eco-friendly car buying preferences amid budget constraints?](https://ygo-assets-websites-editorial-emea.yougov.net/images/pexels-cesar-baciero-8349487_lRWb9Ta.original.jpg)
Global: Do consumers toss out their eco-friendly car buying preferences amid budget constraints?
Electric cars are known to have a higher initial cost than all-petrol/gas cars. So, how do consumers react to buying eco-friendly cars when their household budget is squeezed due to inflation?
On average around two-fifths of global consumers say they are likely to cut back on buying environment-friendly products if their household budget is squeezed, with eco-friendly consumer electronics the likeliest to be met with spending cuts at 48%.
But environment-friendly cars like EVs and hybrids are not that far behind (45%) on the spending cuts list. This is slightly more than sports gear (41%) like biodegradable golf balls or vegan boxing gloves and healthcare products (40%) like washable diapers, menstrual cups, or eco-friendly toothbrushes.
Nearly two-thirds of urban Indonesians say they are likely to cut back on buying environment-friendly cars if their household budget is squeezed (63%). Over half of urban Indians also say the same (57%).
UAE and Spain also demonstrate notable change in eco-consciousness in this category, with 52% and 50% of respondents respectively saying they are likely to cut back on buying eco-friendly vehicles.
Meanwhile, countries such as Germany and the United States exhibit relatively lower percentages, with about three-tenths saying they would cut back on eco-friendly cars. Denmark and Great Britain follow closely behind with around a third of consumers saying the same (32% and 35% respectively).
Around two in ten consumers in Australia (20%), Canada (19%), France (24%) and Germany (22%) are either somewhat unlikely or very unlikely to cut back on purchasing EV or hybrid cars.
Explore our living data – for free
Discover more Automotive content here
To receive monthly insights about the automotive industry register here.
Make smarter business decisions with better intelligence. Understand exactly what your audience is thinking by leveraging our panel of 20 million+ members. Speak with us today.
Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 511 and 1,999 for each market. All surveys were conducted online in May 2023. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.
Image: Pexels.com