Meet the typical electric-vehicle buyer: A wealthy millennial trading in a luxury gas-powered car
As more electric vehicles have hit the market, the buyer base for them is continuing to skew younger. Millennials continue to snap up the majority of battery-powered vehicles on sale, according to data provided by J.D. Power, with Gen X close behind.
The EV segment at the end of 2022 was also leaning more toward male buyers than in 2019, according to J.D. Power's data. Only 28.5% of EV buyers in 2022 were women, compared to 29.1% in 2019. "That doesn't surprise me since the marketing has been performance/tech-oriented," Jominy said. These performance-heavy ad campaigns are typically targeted at male buyers.
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