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McKinsey – Mobility Consumer Pulse 2024 | Global Trends in EVs, Shared Mobility & Autonomy
Uncover McKinsey’s Mobility Consumer Pulse 2024 with insights from 36,000+ consumers across 15 countries. Explore trends in electric vehicles, shared mobility, autonomous tech, and evolving consumer preferences shaping the future of mobility.
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McKinsey – Mobility Consumer Pulse 2024 | Global Trends in EVs, Shared Mobility & Autonomy
- 1. CONFIDENTIAL AND PROPRIETARY Anyuse of this material without specific permission of McKinsey & Company is strictly prohibited June 2024 Media Presentation McKinsey Mobility Consumer Pulse
- 2. McKinsey & Company2 McKinsey Mobility Consumer Pulse investigates global consumer perceptions around core future mobility trends 15 countries since 2021 across the globe, covering more than 80% of global sales volumes Questions on the industry-shaping mobility trends & disruptions 200+ 30,000+ respondents who regularly use mobility allowing for detailed consumer profiling and segmentation Source: MCFM Mobility Consumer Insights Solution The most comprehensive view on mobility consumer trends… Shared mobility insights Electric vehicle buying behavior Corporate mobility benefits ADAS technology insights Micro- mobility consumer insights Bicycle rider insights Two- wheeler mobility insights Car owner journey insights Mobility trends & outlook Customer experience benchmarks Automotive aftersales customer insights Connec- tivity & digital car experience Mobility ownership & financing EV charging customer insights Urban mobility infra- structure & regulation Shared autonomous mobility Mobility consumer segments Used car buyer insight …and many more Regular MCFM consumer survey 5+ years of historic data Countries in 2024
- 3. McKinsey & Company3 10 key numbers from the 2024 McKinsey Mobility Consumer Pulse 29% Would like to replace their private vehicle completely with other forms of transport in the next 10 years 38% Of electric vehicle buyers consider to get their next car online 59% Of EV buyers want to use more digital connectivity services in the future Of car buyers consider autonomous driving functionalities as key buying factor for their next car Of electric vehicle owners consider to switch back to a traditional combustion engine car Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Of respondents who do not have an EV yet, consider a BEV1 or PHEV2 as next car 37% 21% 27% Of European EV buyers open to considering a Chinese brand for next purchase 9% 29% Consider current electric vehicle charging infrastructure to be sufficient Global insights 1. BEV = Battery electric vehicle 2. PHEV = Plug-in hybrid electric vehicle
- 4. McKinsey & Company4 Over the past 12 months market cap of mobility companies has grown mostly with OEMs Source: S&P Capital IQ New Mobility Top 10 OEMs 521 585 100 85 13 12 Apr 23 10 9 Apr 24 646 688 6% p.a. 222 376 83 81 54 80 53 70 74 69 61 78 48 46 48 21 Apr 23 51 49 44 42 Apr 24 726 924 27% p.a. Top 10 suppliers Market capitalization $ Billions 45 50 15 15 15 14 14 10 8 7 8 4 5 Apr 23 13 12 10 7 7 3 3 Apr 24 130 134 3% p.a.
- 5. McKinsey & Company5 Contents Electrification intent and EV buying EV charging Connectivity Autonomous driving technologies General mobility patterns, urban and micromobility
- 6. McKinsey & Company6 Global purchase intent for electric vehicles continues to rise, however more slowly Powertrain consideration for current non-EV owners Share of respondents who do not have an EV yet, globally 18 20 17 14 10 21 December 2021 February 2024 Additional Insights Top reasons given by people who don’t want to switch to EV: December 2022 16 21 17 13 11 21 Interest in BEV from respondents who drive premium/luxury segment vehicles ~2x higher than from those who drive volume/entry level cars Too expensive Driving range concerns 45% 33% Charging concerns 29% Countries 14 17 14 18 12 24 Next vehicle is BEV Next vehicle is PHEV One more new ICE One more used ICE A few more ICE before switching to EV Do not want to switch to EV Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for:
- 7. McKinsey & Company7 27% of European consumers say they are likely to consider a Chinese electric vehicle brand How likely are you to buy an electric vehicle from a Chinese car brand some time in the future? Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: 23 31 21 33 25 33 EV considerers EV owners Older consumers Young consumers Volume brand owners Premium brand owners Ø 27 +57% +32% +35% Likelihood to consider purchasing an electric vehicle from a Chinese brand Share of European respondents who own an EV or consider to do so in the future stating (very) likely
- 8. McKinsey & Company9 EV buyers are younger, more urban and more tech-savvy Buyers who consider an electric vehicle at next purchase… ...have higher disposable income EV considerers EV skeptics 4,235 6,230 Average monthly pre- tax household income in USD ...tend to live urban/downtown Share of respondents by living area 34 34 47 51 20 EV considerers 15 EV skeptics Suburban Urban Rural ...are significantly younger EV considerers 50.8 42.0 EV skeptics Average age in years ... drive longer distances ... can charge at home Average annual mileage in km 10,035 14,735 EV considerers EV skeptics Share of respondents who are able to charge at home 84 49 EV skeptics EV considerers ... are more tech-savvy customers Share of respondents who like diving into new technical systems 68 30 EV considerers EV skeptics Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Global insights
- 9. McKinsey & Company10 Highest barriers for electric vehicle adoption are low familiarity with the technology and high perceived cost More than 1 in 4 EV skeptics have concerns around insufficient range or charging infrastructure – in China 42% Range anxiety Reasons for consumers not wanting to buy an electric vehicle… 29% 45% of EV skeptics perceive cost of ownership as too high, except for customers in Norway (29%) and China (9%) Cost of ownership Familiarity with EVs 1 in 2 EV skeptics have never heard about EVs or don’t think they can explain what it is, with lowest familiarity in Japan and France 28% of EV skeptics say they have no ability to charge at home, highest in Japan (43%) and lowest in Brazil (15%) Ability to charge at home More than half of EV skeptics say they don’t like to occupy themselves with new technology, in Australia even 63% Technology skepticism Petrol heads 14% of EV skeptics just enjoy driving a combustion engine car, mostly in Germany (28%) and US (18%) 46% 60% 29% 55% 14% Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Global insights
- 10. McKinsey & Company11 29% of EV owners globally likely to switch back to ICE, mostly because of difficulties with charging 49 46 38 28 24 18 18 15 13 Ø 29 Likelihood of current EV owners to switch back to ICE Share of EV owners (very) likely to switch back to ICE Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Reasons to switch back to ICE Global respondents 35 34 32 24 21 16 13 Charging infrastructure in public not yet good enough for me Total costs of ownership too high Driving patterns on long distance trips too much impacted Cannot charge at home Needing to worry about charging is too stressful Changing mobility requirements Do not like the driving experience
- 11. McKinsey & Company12 The current economic situation is heavily impacting car purchase behaviors – online buying is becoming more important Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 , US N = 4,112 Data available for: Configure Search Test drive Schedule service Negotiate/ clear questions Order Preferred purchase channel for next electric vehicle Share of US respondents who consider to own an electric vehicle in the future 50% prefer to order online Phone / e-mail Online / App In-person ~80% want physical test drive Expected adjustments to next car purchase given current economic situation Share of respondents (very) likely Postpone switch to electric vehicle Extend holding period of current car Trade down at next purchase 34 53 EV buyer ICE buyer 58% 44%
- 12. McKinsey & Company13 Electric vehicle buyers consider in-car technology more important than the average car buyer Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: EV buyers All car buyers Main purchase factors Most important factors for car purchase decision, often driven by external constraints such as budget (price/ cost of ownership) and needs (vehicle size, range) Rounding out factors Factors that influence the purchase decision, after basic requirements are met → central playing field for differentiation Non-essential factors Elements that do not influence car purchase decision 100 98 96 94 80 79 78 58 57 55 50 49 47 47 46 37 34 31 31 28 22 Size of on-board multimedia screens Purchase price Vehicle consumption / efficiency Vehicle brand Technology-enabled safety Driving performance and handling Connectivity offerings Sustainability Size and functionality of the vehicle Maturity of driver assistance systems Total cost of ownership Driving range of the vehicle Discounts/subsidies received Zero-carbon car Cutting-edge technology in vehicle Experience this vehicle type/ brand Exterior design, look and colors Premium materials used Interior design In-car assistant / voice control Reputation and status 100 99 90 89 82 88 75 65 57 64 49 49 56 47 53 40 35 37 37 32 26 Global insights In-car technology much more important for EV buyers Key decision factors for next car purchase Relative importance of factor indexed to 100
- 13. McKinsey & Company14 Contents Electrification intent and EV buying EV charging Connectivity Autonomous driving technologies General mobility patterns, urban and micromobility
- 14. McKinsey & Company15 Satisfaction with charging availability has improved slightly, but still has a long way to go 49 44 48 20 21 20 24 26 24 8 9 8 Along highways and main roads In (other) major cities In your close proximity Still missing chargers Enough charge points for today but not future Getting close to having enough charge Well set up in terms of charge points Perception of charging infrastructure readiness Share of respondents globally Trend since 2022 40 35 38 21 24 24 27 29 28 11 12 11 Along highways and main roads In (other) major cities In your close proximity EV considerers EV owners Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Global insights
- 15. McKinsey & Company16 Battery range expectations have been increasing over time – up 30% over last 5 years BEV battery range expectations historically and by segment For respondents considering to get an electric vehicle, in miles 289 306 Entry & Volume Premium & Luxury Range expectations have been increasing over time (+ ~30% in the past 5 years) and are outpacing actual range improvements: Since 2022 consumers demand 5% more range, while actual range increased by only 2% What are the minimum range expectations (based on one full charge) for you to consider getting yourself an electric vehicle? 221 230 249 271 291 2019 Today 20 22 21 Consumers who want to buy an EV as a secondary vehicle have almost identical range expectations as those who are looking for a primary vehicle 47% of EV considerers say that current EV driving range prevents them from purchasing one Source: MCFM MEM, IHS, MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: ~220 miles avg. range1 1. Real life range with assumed mix of city, country and highway driving Range expectations are similar across segments and approx. 30% above real-life average range on market today Additional Insights Global insights
- 16. McKinsey & Company17 EV skepticism and age are strongest influencing factors for battery range expectations Battery range requirements for customers to be willing to switch from ICE to EV Battery range in miles, global average battery range requirement of 291 miles 308 288 Rural Urban 289 306 Volume/ Entry Premium 290 289 305 277 Millenials GenZ GenX Boomers Rural customers ~7% more battery range Premium brand buyers ~6% more battery range Boomers substantially less battery range BEV intenders less battery range overall 297 286 Primary HH car Secondary HH car Multi-car households ~4% less battery range 286 292 291 322 One or a few more ICE BEV intender Skeptics PHEV intender 1 of 2 of EV considerers says they are anxious about buying an EV because of limited driving range Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Global insights
- 17. McKinsey & Company18 Contents Electrification intent and EV buying EV charging Connectivity Autonomous driving technologies General mobility patterns, urban and micromobility
- 18. McKinsey & Company19 Consumers looking to increase usage of digital services in their car significantly – yet only 20% are satisfied with today’s offering Future usage of in-car connectivity solutions Share of respondents Pain points of digital car solutions and connectivity offers Share of respondents 26 22 20 16 14 13 13 13 13 9 8 It distracts me from driving It’s too complicated to use I’m happy with connectivity on my car I don’t use the features often Missing features on my vehicle Dealer didn’t show me the features Not familiar with existing features on my car I feel reluctant to the technology Smartphone is more than enough Feel it’s a trick from manufacturers The connectivity feature doesn’t have any value to me only 20% of consumers are satisfied with their current in-car connectivity offerings 48 40 12 Use more than today Use similar to today Use less than today 59 29 12 Traditional car buyer Electric vehicle buyer Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Global insights
- 19. McKinsey & Company20 Majority of car buyers anchors on smartphone integration systems as default connectivity experience Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: 42 29 30 Yes - buy without Yes - if configurable against a fee No - would not buy without Would you buy a car that has no automatic smartphone integration interface as part of its base vehicle specification? EV buyers Traditional car buyers 1 out of 3 car buyers would not buy a car without smartphone integration, another 20- 30% is open to pay for it 47 17 35 Only 35% of customers would switch to using native system if smartphone integration was cut – 14% at risk for switching brand 35 52 14 Switch to using native systems Keep using smartphone only Switch to other brand at next purchase Keep current brand At risk What would you do, if smartphone integration was no longer available in your car to project your smartphone content? Global insights
- 20. McKinsey & Company21 Contents Electrification intent and EV buying EV charging Connectivity Autonomous driving technologies General mobility patterns, urban and micromobility
- 21. McKinsey & Company22 Driver assistance features as core purchase factor for 21% of global car buyers Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Importance of driver assistance features for car purchase Share of respondents 51 38 17 17 13 10 11 9 9 21 34 44 63 57 44 46 51 51 43 48 15 18 20 25 43 44 38 40 48 31 Brazil Norway China Japan France Germany Australia Italy USA Global Non-essential purchase factor (15-21) Main purchase factor (1-7) Rounding-out purchase factor (8-14) Fans Mature driver assistance features are among main purchase factors Considerers Driver assistance features are rounding out purchase factors, car purchase decision is determined by other factors Agnostics Driver assistance features are non-essential purchase factors 3 groups of car buyers regarding driver assistance features
- 22. McKinsey & Company23 Overall readiness to adopt autonomous driving technology varies across markets, safety is the biggest concern Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Agreement to government legalization of fully autonomous cars on the roads Share of respondents Yes, already today Yes, but only in a few years No, never 31 29 17 15 12 11 11 10 9 Ø 16 USA Germany China Brazil France Italy Japan Australia Norway 66 64 60 62 57 54 48 58 64 Ø 59 3 8 23 23 31 34 41 32 28 Ø 25 53 35 33 32 30 25 18 17 17 14 10 10 9 More regulations Safety has to increase Improved road infrastructure Flexible operating system where I can still intervene if needed Need to test it myself Car manufacturer to give more information on technology I need to read more about it in the news Pilot AV project with 1 million miles Pilot AV project with 1000+ customers Friends/family test it Companies/employers allowing it Entirely different car designs (e.g., car as cinema on wheels) Other players should offer autonomous driving Main roadblocks to adopt autonomous driving technology Share of global respondents Safety >50% more important than next factor Assessment of driver assistance features today is hindered by lack of true experience
- 23. McKinsey & Company24 Majority of urban mobility users is open to using shared autonomous shuttles Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Consideration to use shared autonomous shuttles Share of urban respondents 72 14 14 Overall Yes No - privacy concern No - travel time concern 75 71 75 76 67 75 61 78 69 15 12 8 13 22 8 17 10 15 9 17 18 12 11 17 22 12 16 Mobility mode replaced by shared AV shuttles Share of global urban respondents who consider using AV shuttles 22 22 21 14 14 4 2 Private vehicle Public transit Micromobility New trips only Car sharing Ride-hailing / Taxi Walking Would you share a Robo-shuttle service with 4-8 passengers if it would add not more than 10-15% to your travel time and saved you 50% of the cost? Which transport mode are you currently using for the trips that you plan to use a robo-shuttle for in the future?
- 24. McKinsey & Company25 Consumers are open towards autonomous taxi services and most expect to pay less than for a traditional taxi Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Consideration to use autonomous taxis Share of respondents 41 48 27 28 32 24 Completely driverless With operator on board (Very) likely Rather likely Not likely Provided the technology is safe and service operations are reliably established, how likely are you to use autonomous taxi services? Price expectation for autonomous taxis vs. traditional taxi Share of respondents who consider using 48 22 30 Expect to pay more than for traditional taxi Expect to pay less than for traditional taxi Same price Global insights
- 25. McKinsey & Company26 Consumers are open towards autonomous taxi services and most expect to pay less than for a traditional taxi Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Consideration to use autonomous taxis Share of respondents 41 48 27 28 32 24 With operator on board Completely driverless Rather likely (Very) likely Not likely Provided the technology is safe and service operations are reliably established, how likely are you to use autonomous taxi services? Global insights 44 53 25 27 31 20 With operator on board Completely driverless 39 44 28 28 33 28 With operator on board Completely driverless Average Men Women
- 26. McKinsey & Company27 Contents Electrification intent and EV buying EV charging Connectivity Autonomous driving technologies General mobility patterns, urban and micromobility
- 27. McKinsey & Company28 29% want to replace their car by other forms of transport in the future – driven by cost and sustainability concerns Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: “Within the next 10 years, I will replace my private vehicle completely with other forms of transport.” Share of respondents, who own a car 6 6 11 14 12 18 December 2021 December 2022 February 2024 20 18 29 Completely agree Agree 30 29 24 23 17 15 11 10 8 Car becomes too expensive Live a more sustainable lifestyle Switch to home office, no commute any more Car will be obsolete by then Expect shared mobility available at scale Don’t feel safe driving anymore Use ride hailing services instead I do not like driving Expect regulatory car bans in cities Main reasons to replace car entirely in the future Electric vehicle owners: 34% Urban car owners: 37% Groups with highest rate Share of respondents, who own a car Global insights
- 28. McKinsey & Company29 Stop counting cars and start counting users – classical ownership shifts to an access and usership mindset Source: MCFM Mobility Consumer Insights, Annual MCFM Mobility Consumer Survey 2024, dated February 2024, global N = 36,954 Data available for: Consumer sentiment on flexible mobility ownership Share of respondents 38 27 35 Overall Within the next 10 years, I want flexible usership models to be in place so that I only pay for the rides I take with a private vehicle. Do not agree Rather agree (Completely) agree 46 27 27 27 27 46 Younger generations Older generations …by generation 27 38 23 28 50 34 Traditional car buyer EV buyer …by powertrain 50 27 27 26 23 48 Urban Rural …by living area Global insights
- 29. McKinsey & Company30 The McKinsey Mobility Consumer Pulse listens to the consumer heartbeat across the main future mobility themes McKinsey & Company 30 On-demand mobility consumer insights 100,000+ consumer data points each year to gauge future mobility consumer sentiment Regular primary consumer research using online panels: thematic deep dives every two months, one big annual survey Collecting more than 100,000 consumer data points each year – covering wide range of mobility topics across B2C/B2B ecosystem Working together with world-class consumer research agencies Regular global mobility consumer pulse Tableau-based analytics interfaces for rapid data access Tableau Workbench tools as flexible data exploration and analytics interface to rapidly work with mobility consumer data Integrated MCFM consumer data lake One data lake with harmonized data structure and labeling across the best of our MCFM consumer knowledge Central access to historic trajectories of more than 5 years on selected dimensions to capture consumer trends and speed of mobility evolution McKinsey Mobility Insights Portal A product of the McKinsey center for Future Mobility Mobility Consumer Insights Eco-conscious complementors Autonomous driving & technology Select area of interest Electrification Shared mobility services Ownership preferences Connectivity services Willingness to pay … Autonomous driving & technology perceptions … Understand the methodology Choose your use- case Sizing the opportunity Explore consumer groups What they tell us What they do Consumer insights