Do EV Cars Improve Brand Image?

August
20
23

ARE AUSTRALIAN
BUSINESSES OPTING FOR
ELECTRIC VEHICLES TO
ENHANCETHEIR BRAND
IMAGE?

A Small Business Loans Australia Study

About the study

Small Business Loans Australia commissioned a survey of 202 directors and decision-makers of small to medium-sized businesses to find out whether Australian SMEs are choosing to supply their business with electric vehicles (EVs) to improve their brand image

Respondents were asked to identify the factors motivating their business to purchase an electric vehicle, beyond government incentives (such as the EV benefit for novated leases) and environmental considerations (predominantly, fewer emissions). Respondents could select more than one of the responses listed below:

  • To boost my brand credibility and relevance
  • To meet customer expectations
  • To meet employee expectations
  • I want our people and brand to be seen as ‘early adopters’
  • Buying a new petrol car is a bad look now
  • Longevity: I think petrol cars now have an end date, whereas EVs do not.

Respondents were also asked whether they believe electric vehicles will assist in solving the climate change issue.

Why are businesses investing in EVs?

Small Business Loans Australia found an equal 39 per cent of SMEs would choose to invest in EVs to meet customer and employee expectations.

Furthermore, 31 per cent believe that petrol cars now have an end date, and therefore, rather invest in an EV. This is followed by:

  • 30% who would look to invest in EVs to boost their brand credibility and relevance
  • 28% who want to be seen as 'early adopters'.
  • 16% who believe buying a petrol car is a bad look.

Besides helping the environment and cashing in on Government rebates, would your business choose an electric vehicle (over a petrol vehicle) for any of the reasons below?

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By State.

Across the states, businesses in Western Australia and NSW are equally likely to invest in EVs to meet customer expectations, at 50 per cent each. This is followed by:

  • 35% of Victorian businesses
  • 35% of South Australian businesses
  • 28% of Queensland businesses

Business owners in NSW and Western Australia are equally as likely to invest in EVs to meet the expectations of their employees, at 42 per cent each. This is followed by an equal 40 per cent of Victorian and South Australian businesses and only 28 per cent of businesses in Queensland.

Victorian and South Australian businesses are equally likely to believe that buying a petrol car is a bad look (40%). They are also likely to invest in EVs to boost their business's relevance and credibility (33%).

Thirty-seven (37) per cent of Queensland businesses are likely to invest in EVs because they have a longer life span than petrol vehicles. A similar consensus was shared across the four other states.

Businesses in NSW are the most likely to want their brand to be seen as 'early adopters', at 34 per cent. This compares with:

  • 19% of Victorian businesses
  • 19% of South Australian businesses
  • 16% of Queensland businesses
  • 16% of West Australian businesses

Besides helping the environment and cashing in on Government rebates, would your business choose an electric vehicle (over a petrol vehicle) for any of the reasons below? (By State.)

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Do businesses think EVs will help solve the climate crisis?

Small Business Loans Australia found 71 per cent of businesses believe EVs will help solve the climate change crisis - with 44 per cent believing EVs will have only a small impact and 27 per cent believing EVs will help reduce emissions significantly.

Only 29 per cent of businesses do not believe EVs will help in solving the climate change issue.

Do you think electric vehicles will help solve the climate change issue?

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By State.

Business owners in NSW are most likely to believe EVs will contribute to solving the climate crisis, at 78 per cent. This is followed by:

  • 77% of South Australian businesses
  • 73% of West Australian businesses
  • 68% of Victorian businesses
  • 65% of Queensland businesses.

More specifically, 41 per cent of businesses in Western Australia believe EVs will 'significantly' help solve the climate change crisis. This is followed by businesses in South Australia (31%), Victoria (29%), Queensland (28%) and NSW (21%).

Fifty-seven (57) per cent of NSW businesses believe that EVs will only contribute a small amount to solving the climate change issue. This compares with:

  • 46% of South Australian businesses
  • 39% of Victorian businesses
  • 37% of Queensland businesses
  • 32% of West Australian businesses

Do you think electric vehicles will help solve the climate change issue? (By State.)

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