How Mastermind’s New EV Behavior Driver Gives Dealers a Competitive Edge
It’s early in the year, but EV sales are already accelerating at a steady pace.
According to NADA data, in 2023 battery electric vehicle (BEV) sales topped 1.1 million units for the first time, representing 7.2% of all new light vehicles sold. NADA, December 2023.
But even as sales increase, many dealers are still experiencing slow customer adoption, with their EV inventory outpacing demand.
Looking to the end of 2024, there will be nearly 100 BEV models available, according to S&P Global Mobility. That’s double the number of models available in 2022, covering several more segments, competing for customer attention and taking up space on dealer’s lots.
This influx of new electric vehicle models represents both opportunities and challenges for dealers. To stay ahead and thrive in this changing landscape, dealers need to take a proactive approach to targeting and engaging prospective EV buyers.
How Dealers Can Appeal to Future EV Buyers
Understanding the reasons why a customer may be interested in purchasing an EV is key – especially as EVs remain mostly an additive purchase. According to S&P Global Mobility data, 7 in 10 EVs join an ICE vehicle in the driveway instead of replacing one.
By leveraging predictive and personalized marketing to proactively engage prospective EV buyers, dealers can engage and convert customers based on their unique buying preferences.
Mastermind’s new EV Behavior Driver enables dealers to discover who is likely to buy an electric vehicle and navigate sales pitches effortlessly with talking points tailored to each buyer based on factors including:
● Current vehicle they own
● Demographic information
● Location information
Mastermind’s New EV Behavior Driver
To simplify the process of proactively identifying and engaging buyers, Mastermind’s EV Behavior Driver provides a scored prediction of how likely a customer is to buy an electric vehicle. The higher the EV Behavior Driver score, the more likelihood the customer will purchase an EV.
This score is paired with personalized talking points based on actionable insights, such as
a customer’s estimated driving pattern or annual gas savings, helping dealers confidently discuss EVs with customers to successfully move that inventory off their lot.
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By harnessing the power of predictive analytics to anticipate customer preferences, Mastermind enables dealers and OEMs to redefine automotive retail sales by seamlessly blending data and intelligence with personalized insights. Building on these capabilities, these new enhancements empower dealers to discover which customers are most likely to purchase an EV and maximize the profitability of their available inventory.
Want to learn how Mastermind can help your dealership identify and engage future EV buyers? Request a free demo.
