Car Dealership Guy’s Post

Congratulations to Lectrium for launching their incredible new digital marketing tools - the EV Savings Badge and EV Sales Buddy! 💰The EV Savings Badge displays federal tax incentives, state rebates, and also enables online shoppers to calculate average fuel cost savings. 🤖 The EV Sales Buddy enables dealership sales teams to quickly and clearly answer questions around EV charging, range anxiety, and rebate eligibility. Learn more about the Cohort 14 startup’s exciting journey in the EV revolution: https://lnkd.in/dTvZutjY

Passenger vehicle (PV) volumes are expected to log 5-7 per cent growth, touching a new peak for the third straight time in the next fiscal driven by the SUV segment .This anticipated growth is expected to come on the back of an estimated high base of 6-8 percent this financial year even as demand for cars and exports remain muted. A significant change in consumer preference has cranked up demand for SUVs leading to its market share doubling to around 60 percent of total domestic volume this fiscal from around 28 per cent before the pandemic in fiscal 2019. This preference is expected to grow further, backed by a healthy pipeline of new model launches across price points, including electric variants, and normalised availability of semiconductors after a prolonged period of short supply. While the overall PV volume is seen rising 5-7 per cent next fiscal, the expected demand for SUVs to accelerate at twice the pace at over 12 per cent, driven by an array of feature-laden launches at competitive price points, varied technology options including hybrid and electric, and increased access to credit. #SUVDemand #AutomotiveTrends #DrivingForward #UrbanExploration #AdventureAwaits #RoadTripReady #VehicleTrends #ExploringOutdoors #NextGenDrivibg #OnTheGoLifestyle #mitaso #letsbuildthefuture #oem

The UK Automotive sector made more than one million vehicles in 2023   UK vehicle production hit 1,025,474 units in 2023, according to the latest figures published last week by the Society of Motor Manufacturers and Traders (SMMT).   A total of 905,117 cars and 120,357 commercial vehicles (CVs) were manufactured, reflecting a 17.0% increase compared to the preceding year. The surge in production can be attributed to the alleviation of pandemic-related challenges, ranging from chip shortages to lockdowns, as well as the heightened production of electrified models. This cumulative effect resulted in the annual output surpassing one million units, marking the first time since 2019.   The UK automotive sector also benefited from £23.7bn of private and public investment commitments being made in 2023, more than the previous seven years combined. Here's to an even stronger 2024!! #ukmfg #mfg #automotivemanufacturing #carproduction #manufacturing #ukeconomy #automotiveindustry

Veloz’s Q3 EV Market Report is now available and shows a substantial year-over-year increase in EV market share in California, with 26.75% of new cars sold being ZEVs as compared to 17.7% of new car sales in Q3 of 2022. This news comes on the heels of a slew of zero emissions announcements in the state, including the early installation of 10,000 fast chargers and California hitting its ZEV truck sales goal two years early. You can check out the full EV Market Report analysis here >>> https://lnkd.in/gBZDMj9Y Many thanks to Office of California Governor Gavin Newsom, California Energy Commission, and California Air Resources Board for working collaboratively with Veloz to make our #ElectricForAll goals a reality!

It's heartening to find that Ford is focusing some resources on developing more affordable EVs. All manufacturers must do this to address the increasing consumer demand for lower-priced vehicles. EV prices have come down over the past decade, and there are some models that are at price parity with similar gas-powered peers. However, more can be done to bring prices down to the low $20k range and to balance out the focus on large trucks and SUVs. https://lnkd.in/gkR9zBnV #DriveElectric

UK Light Commercial Vehicle (LCV) Sales Continue to Surge! 🚚⚡ In July 2023, LCV registrations in the UK rose by 44.2%, marking the best July since 2020. The demand for zero-emission commercial vehicles also grew significantly, with battery electric vans (BEVs) surging by 94.6% and capturing a 5.5% market share. In 2023, 10,292 BEVs were registered, showing a 16.1% year-on-year increase. An electrifying trend in the commercial vehicle sector! ⚡

UK Light Commercial Vehicle (LCV) Sales Continue to Surge! 🚚⚡ In July 2023, LCV registrations in the UK rose by 44.2%, marking the best July since 2020. The demand for zero-emission commercial vehicles also grew significantly, with battery electric vans (BEVs) surging by 94.6% and capturing a 5.5% market share. In 2023, 10,292 BEVs were registered, showing a 16.1% year-on-year increase. An electrifying trend in the commercial vehicle sector! ⚡

UK Light Commercial Vehicle (LCV) Sales Continue to Surge! 🚚⚡ In July 2023, LCV registrations in the UK rose by 44.2%, marking the best July since 2020. The demand for zero-emission commercial vehicles also grew significantly, with battery electric vans (BEVs) surging by 94.6% and capturing a 5.5% market share. In 2023, 10,292 BEVs were registered, showing a 16.1% year-on-year increase. An electrifying trend in the commercial vehicle sector! ⚡

UK Light Commercial Vehicle (LCV) Sales Continue to Surge! 🚚⚡ In July 2023, LCV registrations in the UK rose by 44.2%, marking the best July since 2020. The demand for zero-emission commercial vehicles also grew significantly, with battery electric vans (BEVs) surging by 94.6% and capturing a 5.5% market share. In 2023, 10,292 BEVs were registered, showing a 16.1% year-on-year increase. An electrifying trend in the commercial vehicle sector! ⚡

Demand for battery electric cars seems to be cooling here. The number of pure electric cars (BEVs) registered for the first time has fallen now for two quarters in a row. The figure (1048) for the final three months of 2023 was 20% down on the previous quarter (1308). By contrast demand for plug in hybrid vehicles has been relatively steady. One of the reasons for weakening appetite for battery electric cars is not hard to guess. Electric cars can cost up to £10,000 more than their petrol equivalents according to the FT. That can be offset to an extent by tax perks like salary sacrifice schemes and low benefit in kind charges. But there are only so many who can gain access to such arrangements. More charging points might help but I suspect that unless prices come down or grants to buy electric cars are reintroduced, demand for BEVs will remain sluggish.