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Global Energy Advisory – 22nd June 2018

Global Energy Advisory – 22nd June 2018

Bottlenecks in the Permian are…

Millennials Reject Electric Vehicles In New Survey

Tesla

A new survey of 157,000 participants shows the millennial age group’s striking rejection of electric and self-driving cars, according to a new report by Driving Tests cited by Forbes.

Seventy percent of those surveyed said they did not want to buy an electric car, and preferred a vehicle with a traditional combustion engine instead. Similar results were obtained across all age groups, to the chagrin of many in the EV world who have banked on millennial support in the future.

Still, Tesla – the famed electric car manufacturer – was the favorite amongst 13 to 19-year-olds polled by Driving Tests. The driving test simulator site polled 157,000 unique visitors in March and April of this year regarding new trends in mass market vehicles.

Two-thirds of those surveyed also said they held “significant reservations” about riding in a self-driving car.

"We used the word 'striking,” Driving Tests founder and CEO Andrei Zakhareuski told Forbes via email, when asked about the results. "And it was striking, given a) all the hype around electric cars, and b) polls that show increasing consumer interest. It was also striking for its uniformity across all age groups. Any thoughts that millennials would be more favorably disposed toward electric cars than seniors were not supported by the evidence."

Most car manufacturers are designing hybrid and electric versions of their existing models to complete with the fully electric and affordable sedans, trucks and SUV’s that Tesla will deliver and roll-out over the next couple of years.

CEO Elon Musk’s announcement of an upcoming electric truck caused the company’s shares to jump by three percent last week.

Related: Could An OPEC Extension Normalize Inventories?

"Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level," Musk said in a tweet. "Pickup truck unveil in 18 to 24 months," he added in the next post.

The value of the car manufacturer’s stock has shot up 41 percent to record levels so far in 2017, making the Silicon Valley company a close competitor with General Motors for the biggest American automaker title.

By Zainab Calcuttawala for Oilprice.com

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  • Henry on April 18 2017 said:
    May I point out the obvious thru some very good quotes.

    “If I had asked people what they wanted, they would have said faster horses.”
    –Henry Ford

    “It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them.”
    — Steve Jobs
  • Kr55 on April 18 2017 said:
    Self driving cars will be for old people that are stuck at home in the present. Will be revolutionary for those people, being able to get out and about again without worrying about having to manually drive their vehicles. Young people want to drive, it's a right of passage. And young people also can't afford the EV premium, especially with people insisting oil and gas prices will be low forever, what is the point to getting an EV?
  • EH on April 18 2017 said:
    Self driving,,, not EV's! You journalists have alot too learn about FACTUAL REPORTING and WRITING. You mis information young minds with mis representation of TRUTH! For one,, we are NOT Americans,,,WE ARE United States Citizens of AMERICA! The Flag is not AMERICAN! IT IS THE UNITED STATES FLAG! But if you listen and read,,even our lustrous Politicians mis guide the YOUNG VULNERABLE public with there speeches,,, AMERICA goes North andSouth , it's a CONTINENT!

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