It’s ‘In’ to Plug-In

Turns out younger and richer consumers are getting the biggest charge out of electric cars. An analysis conducted by Experian Automotive in Schaumburg, Ill., shows that 55 percent of electric vehicle buyers are between 36 and 55 years old and nearly 21 percent have an average household income of $175,000 or more. By comparison, 45 percent of those choosing hybrid-powered models are 56 or older, with only 12 percent having an annual income of $175,000 or higher. “At first glance, one would imagine that consumers purchasing either a hybrid or electric vehicle would be nearly identical, but our research shows that there are differences between the two,” says Melinda Zabritski, senior director for Experian Automotive. “One possible reason for the disparity could be the growing popularity of the higher-end luxury electric models available.” The data helps explain the raging success of the costly Tesla Model S sedan and could bode well for other upscale automakers - including BMW, Cadillac and Mercedes-Benz - who are now debuting their own EVs for affluent environmentalists.