Sunday, December 10, 2023

What we are prepared to pay for the use of a used electric car like this – Fuel pain threshold 3.24 E/Litre


For the Finns, when it comes to electric cars, the most important thing is still the maximum range of kilometers between charges.

According to the Finns and Swedes in Car Shops 2023 study commissioned by Kamax, which specializes in used cars, 58 percent of Finns consider range to be one of the most important features of an electric car.

57 percent of respondents also mentioned longer battery life.

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Apart from battery life, fast charging time (53%) and low operating cost (52%) are also important. Along with these, Finnish motorists particularly value ease of use (26%) and energy efficiency (26%).

21 percent of respondents considered driving as ecological as possible as one of the most important features.

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There are significant differences between age groups. 36 percent of 17-24 year olds consider ecology an important factor. In responses from young adults, it surpasses, for example, ease of use, energy efficiency and engine power, says Jani Koivu, country manager for Kamax Finland.

Environmentalism weighs the least on 45-54 year olds, only 16 percent of whom consider it important. Instead, they emphasize energy efficiency and engine power.

In their responses, women refer to ecology more often than men.

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According to Koivu, the research results show that practicality and reasonable operating costs are still important in electric cars for Finns.

However, motorists are now willing to pay more than last year to charge an electric car.

According to a survey conducted in 2022, the maximum monthly amount to download was 126 euros on average. This year, the amount increased to 153 euros.

This is also influenced by the fact that people are well aware of the power price fluctuations and have a realistic attitude towards the matter, thinks Koivu.

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In particular, motorists among young adults aged 17-24 would be willing to pay up to twice as much for costs related to driving a car: the maximum monthly budget for charging an electric car would increase to £395. Is. Euros on average, while for example the pain threshold for 55-64 year olds is 91 Euros.

Young drivers will now spend a maximum of 328 euros on fuel for an internal combustion engine car.

Regardless of the car’s power source, the maximum volume reported by men is slightly higher than that of women on average. Based on the research, however, men would switch to an electric car slightly more sensitively than women due to an increase in the price of fuel.

Regarding the pain point of price, Kamaks’ study noted that if the price of 95-octane gasoline were to stabilize at 3.24 euros, switching to an electric or hybrid car would be a possible option for many Finns. Various age groups are fairly unanimous about this.

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Research done like this

Data collection for Finns and Swedes in the Car Shops 2023 study was carried out from 12 to 23 January 2022 as an online survey at M3 Panel created by Billendi Oy.

The target group were Finns and Swedes between the ages of 17 and 70 who have a driving license, have a car in their household and are responsible for household car purchases, either alone or with a family member.

The study sample was weighted according to age, gender and residential area to match the country’s population. The study’s final target group consisted of 1,029 Finnish and 1,017 Swedish respondents.

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