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Published date: June 21, 2024

Is the EV Price War Over? Where are dealers missing out the most?

Is the EV Price War Over? Where are dealers missing out the most?

Electric vehicles on average were discounted nearly $6,000 in Q1 2024, according to Cox Automotive…Will this continue??

Table of contents

Let’s take a closer look at how EV price trends are shifting, and explore how providing your customers with better tools to educate them on EVs could be the differentiator you need to increase EV sales.

What’s going on with the EV price war?

For some time now, the industry has been undercutting itself (starting with Tesla) by entering into a price war, instead of focusing on delivering a better product and explaining the benefits of electric vehicles to consumers.

However, it seems as though starting on April 16, 2024 Tesla may be finally backing off from the price war, and focusing on a better customer experience.

How can EV education lead to more sales and fewer discounts for your dealership?

EVs are a really great, new technology with strong incentives at the federal, state, utility and OEM levels. Also, they come with benefits for consumers, namely significant fuel savings when charging at home instead of paying for gas.

Our team looks though thousands of dealership Vehicle Detail Pages (VDPs) per week, and we rarely see all EV information presented clearly to consumers. Instead, consumers are required to do hours of research to find answers to simple questions that dealerships can answer!

Oftentimes, a federal tax incentive is not shown, or is shown strangely. Very rarely are state incentives shown, and almost never can a consumer find information on how much money they save on fuel throughout their ownership period.

Meet Lectrium’s EV Savings Badge ⚡️💸

EV Savings Badge views & event count on dealership websites from Jan. 18th - Apr. 18th

With almost 400,000 events recorded on our badge in the last 90 days, Lectrium is actively showing EV Savings to consumers directly on the VDPs of our partners!

Get a personalized mock-up of the badge and demo chat with our team here: https://www.lectrium.com/book-a-demo

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