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Published date: June 20, 2024

Dealerships: The unsung heroes of EV adoption

Dealerships: The unsung heroes of EV adoption

On average, OEMs have mandated car dealerships to invest $258,000 to improve “EV-readiness” at the dealership level. With over 18,000 franchise dealerships, this represents a $4.6 Billion dollar investment from dealerships which has largely gone un-celebrated!

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Dealership EV charging investment

We have all seen dealerships with powerful, brand new Level 3 DC Fast Chargers which have been made available to not only dealer customers but the general public. These cost well over $100,000 on average, and some dealerships are adding upwards of four to five DCFC stations, and dozens more Level 2 EV Charging stations. This impressive commitment by dealerships represents a crucial milestone in supporting electric vehicle adoption and addresses one of the biggest hurdles Americans face regarding EVs: the lack of charging infrastructure.

Automotive Digital EV marketing

Dealerships are also investing time and resources to freshen up their websites to compete against Tesla. Better and newer information is required to answer EV related questions from consumers, and ease any EV doubts they may have. For example, nearly half of EV shoppers are not familiar with EV tax incentives, and successful OEMs are adding their own unique EV incentives into the equation as well. New factors such as EV savings, charging times, range, and battery size should be clear to dealer sales teams and customers alike to enable faster, more informed decisions. Luckily, Lectrium provides this information and various EV tools that dealers can use to improve the EV purchasing experience for their online shoppers. See Lectrium’s product suite here.

Best EV training for dealerships

While OEMs are bringing in their in-house resources to help dealerships with the transition to electric vehicles, many proactive dealers are also investing in resources and trainings for their staff on the specifics of selling and charging electric vehicles.

NADA EV resources and training

Every year, NADA invites exhibitors like Lectrium up on stage to present ideas, tools, and best practices in the EV adoption movement. In fact, NADA has created its own EV Solutions Center at the NADA conference to assist dealers hands-on. Further, NADA Academy has begun adding EV education to the curriculum as well.

EV lead generation and EV cost per lead at dealerships

The research and time it takes for a consumer to learn about and purchase their first EV is significantly longer compared to purchasing an ICE vehicle, which has caused some getting used to for dealership Marketing Officers. “Cost per lead” and “cost per sale” in the EV space are higher on average than for ICE vehicles, which means dealers are investing more marketing budget to educate shoppers before they convert to an EV buyer. As more people purchase EVs over time, we should see these numbers go down. However, for now, the better the information and data dealers have to educate their customers, the quicker their customers will be able to make a decision.

The big EV picture at dealerships AKA “The State of EVs”

So, how much money are dealerships investing into the EV transition? Currently, it is $258,000 on average, and with 18,000 franchise dealers, that is a cumulative $4.6 Billion!

For dealerships looking to improve their EV sales, let’s chat.

We have a list of best practices for dealerships transitioning to electric vehicles, and are always available to chat about these ideas, tools, and processes.

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