Commercial feature from MOTORS
The automotive industry is experiencing a paradigm shift as recent electric vehicles (EVs) enter the marketplace at reduced rates. With the Government’s announcement of an electrical automotive grant scheme, which could reduce the upfront cost of recent electric vehicles by as much as £3,750, the impact on automotive buyers and dealerships is critical.
On this AM Supplier Insight, Chief Operating Officer at MOTORS, Phill Jones, offered his insight into the results of the grant – discussing changing attitudes to EV, implications on the used automotive market, and suggested areas of focus for automotive dealers going forward.
A significant presence within the UK’s automotive retail sector, the MOTORS website connects prospective buyers with used automotive dealers in a web based network, with hundreds of thousands of holiday makers every month.
With the prospect of reduced costs, the electrical automotive grant is already having an impact on automotive buyers and their attitudes to EV.
Jones explained: “We ran a snap poll the day after the grant was announced, and 38% of recent automotive buyers thought the grant will make them more more likely to buy an EV, and that was corroborated by increases in searches on Google.”
Cost is but one factor that buyers must consider when taking a look at EVs, with access to charging and vehicle range also proving frequent concerns. Nevertheless, Jones highlighted that measures taken to handle these barriers, added to the momentum around costs now not appearing so high as a consequence of the grant, improve the likelihood of prospective buyers feeling encouraged to contemplate EV cars.
Nevertheless, with the grant being geared toward recent cars, Jones expressed his frustration on behalf of the used automotive marketplace – maintaining that this segment of the sector requires more support.
“We expect it’s kind of naive to think that everybody could afford a brand new automotive because they can not,” he said.
Consumers, Jones noted, will likely see used EVs change into cheaper as recent automotive prices decrease, but dealers might be put right into a position of increased risk as they take care of stock that might be going back in price.
“There are risks of individuals being caught with stock on their forecourt, in the event that they have not priced it and move it to sell.”
With increasing numbers of potential first-time EV buyers, the importance of dealers and their ability within the showroom has only grown, with Jones explaining that 85% of individuals buy off the back of their showroom experience. Nevertheless, with automotive buyers bringing unique concerns to their EV purchase, understanding the nuances is crucial.
“I believe the sales teams must be product evangelists,” said Jones.
“Take a while to know what the buyer desires to do, how they’ll use it, think concerning the range anxiety and such. It just takes slightly bit more explaining. So, for those who can do this, I believe you’ll be able to get more people on the road and EV.”
This Article First Appeared At www.am-online.com
