EVs ARE affordable, and it is prime time to become a leader in EV sales

While some EV-related news coverage has taken a pessimistic tone recently, the data on EV sales and lease volumes for 2023 is telling a much different story. EV sales grew 50% year over year in 2023, accounting for 37% of total auto sales growth in the United States, according to J.D. Power E-Vision Intelligence data. Sales of ICE vehicles, by contrast, rose just 2% for the year.

It’s true. Dealer EV inventories have increased, and it’s taking dealers longer to sell EVs than their ICE counterparts. To move these EVs more rapidly, hefty incentives and rebates are being offered.

This is a major opportunity to rise to the top in EV sales.

“Affordability is up to the highest level we’ve seen since tracking was initiated three years ago,” said Elizabeth Krear, VP of the Electric Vehicle Practice at J.D. Power, in an April 2024 Sales Forecast. “This means that, on average, EVs are more affordable than comparable gas-powered vehicles in terms of total cost of ownership.”

But still, consumers have the perception that EVs are unaffordable. Without the ability to identify which vehicles qualify for EV rebates, it’s impossible to promote all the available cash to be used at point-of-sale and other valuable discounts and benefits that an EV buyer can benefit from.

Now is the time to take leadership in EV sales, and all you need is one thing – EV incentives data.

We have recently integrated EV Incentives into our ChromeData Lender Desk API to provide all factory, lender and EV rebates in a single API call with the ability to present the guaranteed and conditional offers available by vehicle. Our new service identifies EVs that qualify for rebates by content and production requirements and then delivers available rebates based on consumers’ registration zip codes. These offers are on new and used EVs that qualify and are shown to the consumer during research, shopping, vehicle/payment comparisons and at the time of transaction.

Be the first to advertise, market and create accurate pricing and payments for EVs using our extensive set of EV rebates and conditional offers – including all federal, state and utilities.

Contact us at [email protected] to schedule a demo and get free access to our EV Incentives data for evaluation.

Start moving your EV inventory by reducing EV affordability concerns for your shoppers today.