Excerpt from Google’s Year in Search 2022 report »
Concerned about the future, people are looking for items and experiences that provide good value. But value goes beyond price point. It also covers brand trustworthiness as measured by reviews, product popularity, and sustainable options.
State-level incentives for going electric hold more power these days, with sustainable-car buyers actively looking for savings and benefits. U.S. search interest for “ev tax” grew by 115% YOY, “cheapest electric car” by 135% YOY, “electric vehicle tax credit” by 75% YOY, and “cost to charge” by 70% YOY.
The specific attention to affordability follows a surge in general curiosity about the market, with U.S. search interest for “ev cars” and “plug in hybrid” growing by 120% YOY and 115% YOY, respectively. Meanwhile, U.S. search interest for “electric pickup truck” rose by 45% YOY, a sign of how the market is expanding to meet more needs.
“The auto industry is one space that’s poised for brand loyalty to be upended, since by the end of 2025 there will be over 150 new electric vehicle models in the market versus the 30 that are available now,” said Thomais Zaremba, managing director of automotive at Google. “With the EV market expected to grow five times its size soon, auto marketers will need to start investing in brand marketing for these new models today to ensure they emerge well positioned and top of mind when EV options increase for shoppers tomorrow.”
Auto isn’t the only vertical reflecting consumer interest in both sustainability trends and the savings they can bring. The phrase “cheap alternative to” saw a 30% YOY increase in U.S. search interest with breakout searches like “alternative airlines” and “cheap flights.” People are also more curious about saving energy at home, with U.S. search interest for “is solar worth it” rising 40% YOY.
Thomais Zaremba, Managing Director of automotive at Google, made a similar point only a months ago.