2022: The Year Of The EV

Written by Kimberly Topuzes

Electric Vehicles (EVs) of all types have made giant inroads into the mainstream this year, and we are here for it! Even the 2022 NADA Show is putting a spotlight on EVs at this year’s expo. Why all the attention on the EV segment? Well, for one, sales of EVs increased nearly 200% between Q2 of 2020 and Q2 of 2021.1 Numbers like that are bound to grab your attention!

Consumer Sentiment

We’ve talked about EVs on this blog before, but it’s worth noting that consumer sentiment is changing rapidly. For the longest time, consumers were scared to ask questions and they weren’t even sure they knew the right questions to ask. Today, consumers are asking a lot of questions. They want to know about battery life, trade-in value and the differences between BEVs, PHEVs and HEVs.

OEM Investments

Every car company is expanding their EV offerings right now. We have new models galore coming from both legacy brands and new kids on the block like Lucid and Rivian. These OEMs are also putting their money where their mouths are in terms of investments in infrastructure like building battery manufacturing plants and installing charging stations.

Government Incentives

The Build Back Better Act got stalled in congress, but there is still $7.5 billion in the new Infrastructure Investment and Jobs Act that is earmarked for a network of charging stations across the U.S. Tax credits of up to $7,500 are still available to some consumers and states are taking matters into their own hands with many across the nation offering their own set of low-emission and zero-emission regulations.

EV Audience Overview

Because this topic is so big and so exciting, we decided to put it into an easy-to-understand EV Market Overview for you. In this overview, we not only give you more detail about consumers, OEMs and government regulations, but we also give you granular information about the audience segments who are in the market for these EVs.

Download our EV Audience Overview and contact us if you have any questions. We’d love to tell you how we can match you to the consumers that are in the market and ready to buy an EV. And if you’re going to be at the NADA Show this year, let us know. We’d love to see you there!

 

 

1https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/a-turning-point-for-us-auto-dealers-the-unstoppable-electric-car?