The People Have Spoken And Want An Apple Car - Apple (NASDAQ:AAPL), Ford Motor (NYSE:F)

Apple Inc.AAPL

has yet to admit if it is working on building the car of the future, dubbed an iCar. This fact doesn't appear to matter, as a survey of consumers who already own a hybrid or electric vehicle found that more than 75 percent of respondents would likely buy a car manufacturing by Apple. The

survey was conducted by market research and consulting firm Morpace and polled more than 250 owners of a hybrid or electric vehicle. Nine percent of respondents signaled they are "extremely likely" to buy an Apple car, 25 percent were "very likely" while 43 percent were "somewhat likely." Rounding out the survey, 13 percent of respondents indicated they were either "not very likely" or "not at all likely" to buy a vehicle manufactured by Apple. Price An Important Factor If an Apple car is manufactured, market experts and pundits are suggesting a 2020 release. By that time, Apple will be competing with Tesla Motors Inc TSLA's Model 3 sedan (expected to begin selling in 2017) with an expected 200-mile range capability and a price tag around $35,000. 64 percent of those surveyed who indicated they are leaning towards buying an Apple car would be willing to pay $30,000 to $50,000. However, only 22 percent of respondents would be willing to pay more than $50,000. Nevertheless, 53 percent of respondents (regardless of their intention of buying an Apple vehicle) agreed that the price for an Apple vehicle would cost more than its competing products in 2020. Finally, consumers named Tesla as the best partners for Apple to work with in developing an electric car at 42 percent. Ford Motor Company F ranked a distant second at 13 percent.

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