1. Know Your Market
While consumer adoption of EVs also reached new heights
in 2020, not every market saw the same interest. San
Francisco for example, saw EVs grow to 11% market share
in 2020, while Chicago led the Midwest region at 1.5%.
With consumer adoption varying from market-to-market,
it's critical dealers understand their unique audience
to effectively market and sell EVs. To identify prime
prospective buyers, start with your obvious options: repeat
buyers. IHS Markit finds 50% of EV buyers return to the
market for a second EV.
Target previous EV buyers with personalized messaging
based on the specific factors predicted to influence
their purchasing decision, such as early trade-in offers or
attractive OEM incentives on new electric models.
4 Ways for Dealers to
Embrace an Electric Future
Fueled by growing infrastructure, government support and a steady increase in consumer demand, a
once-niche segment is now top-of-mind for OEMs: electric vehicles.
While mass EV sales may still seem far off, some dealerships are discovering the future is now as more
automakers mandate their dealers commit to selling EVs and invest in retrofitting their facilities – or stop
selling the brand.
The time is now for dealers to think ahead and embrace their electric future. Get started with these four tips:
"The automotive industry is on the verge of a 'step change' - a personal
transportation evolution the likes of which has not been seen since
internal combustion engines replaced the horse and buggy."
IHS Markit, March 2021
Globally, EV sales are
forecasted to
grow by 70%.
IHS Markit, January 2021
In 2021, U.S. sales
of EVs are expected
to exceed a 3.5% overall
market share.
