- AutoPacific found that nearly half of all three-row crossover and SUV buyers surveyed would consider buying an EV.
- 8% of all three-row crossover buyers surveyed fully intend to buy a full EV.
- AutoPacific predicts that three-row crossover segment will grow to nearly 400,000 units sold per year by 2029.
It’s unfortunate that it feels like the EV revolution is stuttering. Yet, this lull feels more manufacturer-related. Everything’s a compact semi-luxury crossover rather than what the people really want: cheap EVs, and, according to AutoPacific’s latest study, three-row crossovers. The analyst group just released its 2024 Future Vehicle Planner, showing that a surprising number of three-row crossover shoppers would consider an electric version.
The survey asked more than 14,000 vehicle shoppers and found that “nearly half” of all three-row SUV and crossover buyers would consider going full EV. About 8% of those buyers said they intend on buying a full EV three-row crossover, something the study says is actually impressive considering the lack of three-row options on sale. Currently, there are only seven models on the market: The Volvo EX90, VinFast VF9, Tesla Model X, Rivian R1S, Mercedes-Benz EQS SUV, Mercedes-Benz EQB SUV and Kia EV9. Leave out those that are expensive, unproven or have tiny third rows and you’re left with… just the Kia. There are more coming; the Cadillac Escalade IQ, Lucid Gravity and Hyundai Ioniq 9 are on their way next year.
This strong desire for EV three rows shows that there’s real room for growth in the segment, especially for cheaper models. AutoPacific found that 59% of three-row crossover and SUV buyers intend to spend less than $50,000. The only three-row EVs that get close to that price are the Mercedes-Benz EQB and Kia EV9. The EQB’s tiny third row might not be what families are looking for, but if judged by the fairly healthy sales of the Kia EV9, AutoPacific might just be onto something here.
The firm predicts that if trends continue, the three-row EV segment will grow from 100,000 units sold in 2024 to almost 400,000 units by 2029. “All-electric three-row SUVs and crossovers are set to become one of the most important growth segments in the EV space,” says Ed Kim, AutoPacific’s president and chief analyst. Perhaps it wasn’t so wise for Ford to kill off its three-row EV crossover.
The study also says that the ideal buyer of a three-row EV SUV is a single female who lives in a single-family house and drives less than 30 miles a day. This person is aware of the need for home EV charging but doesn’t think it’s too hard to get installed (or they have it done already). They like the convenience of a three-row vehicle, love the tech gadgets inherent to a modern EV and like the idea of an environmentally-friendly car. But, they don’t want to make any concessions to get any of that stuff. It’s not an easy target for any manufacturer to hit, that’s for sure.
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