Understanding Indian Customers is always challenging but essential for business growth. Indian Electric Vehicle Customer Trends is a detailed report on the EV buyer’s pulse. It is more complex if it concerns Electric Vehicles. Many potential buyers are not well informed about this new technology. Still, there is a question of Product market fit. Now, we have changed from Product-Market fit to Product-segment fit. The ACG customer analytics team developed a customer success equation, successfully driving the EV Business’s growth.
Customer satisfaction and customer delight are two significant parameters for EV customer analytics. Customer delight buyers recommend their EV three times more than the customer satisfaction group.
Recently, ACG has conducted a survey, which is part of the Indian Electric Vehicle Customer Trends report. The success of an electric vehicle business depends on its customers’ success. ACG reports deep insight on how to achieve customer success. The following Electric Vehicle segments are considered:
- Electric Two Wheeler
- Electric Car
- Electric Truck
- Electric Bus
- Electric Three Wheeler
ACG has developed its specific survey methodology to read customers’ minds. Price is not a key challenge in adopting an EV; the key challenge depends on the vehicle segment.
Electric Car Customer Trends:
Electric car buyers have different expectations of their cars. Sixty percent of the Budget segment customer group is willing to pay six lakhs. 42% of Premium and 55% of Luxury EV car buyers are willing to pay 12 lakhs and 25 lakhs.
Luxury EV buyers expect a 10- 15-minute charging time. Their cars must also have advanced digital features. In the premium and luxury segments, 45 to 55% of buyers prefer SUV body types, while 53% of buyers in the Budget segment prefer Sedans and Hatchbacks.
Electric Three Wheeler Customer Trends:
Buyers of Electric Three-Wheelers have low academic achievements compared to other EV segments. However, this segment is highly populated. Some segments, like e-rickshaws, give better ROI and ease of driving. There are some pockets where only e-rickshaws have access, like Haridwar downtown. Some buyers are buying Electric three-wheelers due to their low operating cost and sufficient range in a small town. One reason is that the buyers need only minimal Product features and specs. The local manufacturers are providing cost-effective EV Three-Wheelers.
Electric Two-Wheeler Customer Trends:
Electric Scooters are also on the path to success. There are three major segments: Low-Speed Scooters, High-Speed Scooters, and Motorcycles. Low-speed scooters are suitable for a specific customer segment because they fulfill the requirements of that customer group. Customer groups like Retired people, School students, Females, and Courier delivery are satisfied with the Low-Speed Scooter.
Electric Truck Customer Trends:
Electric trucks have different market dynamics. 75% of customers prefer low operating costs and are interested in their fleet. 95% of these customers belong to Mini, pick-up, Light-Duty, and Heavy-Duty Tippers. Grain, Milk, and Vegetable Transporters are the significant segments. Mining and Tunnel applications are suitable for the current scenario.
Electric Bus Customer Trends:
City Applications are the primary uses of the Electric Bus. Thirty percent of Private Bus operators want to add Electric buses to their Fleet. Educational Institutes, Staff, last-mile delivery, and tourists are two of the primary uses that private fleet owners are looking for.
Large Market size, Low Operating cost, Short Duty cycle, and High Spending power are some of the opportunities that come with the above bus applications.
Key Highlights of the report:
- EV Customer Voice
- Based on Different parameters like Age, Income, Profile, Gender, Uses, and others
- Deep engagement with the customers
- Pricing, Branding, Marketing, and Expected from EV
- Customer journey
- EV Product roadmap
- Willingness to pay and
Please get in touch with us to get contain of the report
