Electric vehicle (EV) ownership in Singapore is growing rapidly. EV registrations for the first five months of 2022 rose to 8.4 percent of all new car registrations nationally – twice the rate for all of 2021, and twenty times higher than the whole of 2020.
What are the top reasons driving Singapore consumers to purchase EVs right now? And which car brands do EV owners have the most favourable views of?
Why have consumers bought EVs in Singapore?
Latest data from YouGov Profiles reveals that environmental impact and running cost considerations are the top two reasons driving the purchase of EVs in Singapore.
More than two-fifths of EV owners say ‘protecting the environment’ would be one of their reasons for purchasing an electric car, while around a quarter of EV owners say lower running costs and fuel costs for EVs (such as lower car tax, lower maintenance and battery charging costs) are a factor.
Aspects of the driving experience – EVs offering a more silent ride (23%) and better acceleration compared to combustion engine vehicles (19%) – are the next most-cited reasons.
Notably, factors relating to the long-term viability of EVs relative to combustion engine vehicles (12%) – such as future proofing against the decline of petrol and diesel as fuel sources, and the depreciation of internal combustion engine (ICE) vehicles in Singapore (8%) – are among the least-cited reasons.
Which car brands do EV owners in Singapore view as leaders in sustainability and technological innovation?
When EV owners were asked about car brands that they consider to be leaders in sustainability and environmentally-friendly technology, American car brand Tesla came out tops with one in three convinced of their green credentials.
BMW from Germany was chosen by a quarter of EV owners in Singapore, while one in five acknowledged Japanese brand Honda. More than one in seven EV owners in Singapore also indicated Mercedes-Benz (Germany), Audi (Germany) and Volvo (Sweden) as leaders in eco-friendly motoring technology
Notably, BMW and Tesla are also the two car brands most considered to be leaders in general automotive innovation and technology, being acknowledged by a third of EV owners in Singapore.
Meanwhile, Honda, Mercedes-Benz and Volvo are some of the brands whose reputation for sustainable technology outstrips their standing for general innovation – perhaps making them the brands to watch when it comes to increasing market share in Singapore.
What are some motoring differences between EV and non-EV owners in Singapore?
Audience comparison data from YouGov Profiles also reveals that owners of electric vehicles are significantly more likely to say that they rely heavily on GPS navigation when driving (66%), compared to owners of non-electrical vehicles (53%).
Almost two-thirds of EV owners also say they can definitely change a car tyre on their own, compared to slightly over half of non-EV owners. Additionally, EV owners are more likely to say that they are able to fix their own car without help from a mechanic (36%), compared to non-EV owners (19%).
Want a more granular understanding of the demographic and psychographic profile of current and potential EV owners in Singapore and 48 other markets globally – and how they perceive more than 40 major automotive brands? Get in touch with us today.
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for Singapore is nationally representative and weighted by age, gender and race. Learn more about Profiles.