Electric Vehicle Interest On The Rise;  Dealers Feel Unprepared

A lot of electric vehicle studies tend to focus on consumers and how they feel about the changing automotive landscape.  But a new study is revealing some interesting insights into not just how consumers feel about EVs, but also how dealers feel about electrification.  It shows a large gap in future EV readiness between consumers and dealers.

Consumer and Dealer EV Perspectives

From a consumer perspective, the Cox Automotive study finds that consumer EV interest is growing faster than EV sales. From a dealer perspective, the study reveals a lack of EV readiness among U.S. automotive dealers regarding sales and service.  

“Education for both consumers and dealers remains a critical factor in driving widespread confidence and adoption of electric vehicles,” said Kayla Reynolds, Manager of Research & Market Intelligence, Cox Automotive Mobility. “For dealers specifically, preparation is paramount, and our findings emphasize the urgency of equipping dealers with EV sales and servicing capabilities to meet the needs and demands of EV buyers.”

The new research can be found in Cox Automotive's 2023 Path to EV Adoption: Consumer and Dealer Perspectives study.  

The study's four big takeaways are:

1. While EV interest is growing rapidly,  EV sales are growing more slowly.
2. More consumers than dealers feel EVs (53% vs 31%) are the vehicles of the future.  
3. Franchise dealers also feel they need more support and guidance from automakers.
4. Dealers don't feel fully prepared to handle the specific needs of EVs. Concerns include the need for more EV technicians and more DC Fast Chargers.

You can view the entire study with graphics here →

All-electric 2023 Lexus RZ 450e. Photo: CarPro.

2023 Lexus Rx 450e. Photo: CarPro.