The electric vehicle (EV) market has been growing at an impressive rate in recent years, and it shows no signs of slowing down. With advancements in battery technology, greater public awareness of sustainability, and more incentives for green energy, consumers are becoming increasingly drawn to EVs. At inride, we’re witnessing a surge in EVs listed on our auction platform, and this influx presents a unique opportunity for dealerships.
Dealers looking to enhance their used car inventory and drive revenue should take note: EVs are not only here to stay, but they’re also proving to be money-makers in the used car market.
As more consumers populate the electric landscape, they’re trading in their old EVs for new models, leading to a greater supply of pre-owned electric vehicles on the market. This opens the door for dealerships to take advantage of this rapidly growing segment by offering a diverse range of electric cars to consumers who may not be ready to make the leap to brand-new EVs.
The platform’s data shows a significant rise in EV listings over the past year, with models ranging from luxury electric sedans, like the Audi e-tron, to compact and affordable electric SUVs like the Nissan Leaf. By leveraging inride’s auction site, dealers can stock their lots with these high-demand vehicles, benefiting from both competitive pricing and growing consumer interest.
Dealerships that invest in EVs now will be ahead of the curve in capturing a segment of the market that’s set to expand. While new EVs can carry a hefty price tag, used EVs are becoming more accessible to a broader range of consumers. This makes used EVs a lucrative opportunity for dealerships, allowing them to tap into buyers who want to go electric without breaking the bank.
Consider these key advantages of investing in EVs through inride:
High Resale Demand: EVs are not only a popular choice for new car buyers, but the demand for used electric vehicles is also on the rise. Consumers interested in sustainability, cost savings, and avoiding fuel costs are eager to find used EVs.
Tax Incentives and Rebates: Many used EVs still qualify for state and federal tax incentives, some up to $5,000. Dealers who are knowledgeable about these programs can position used EVs as even more attractive to buyers. Dealerships are also one of the only ways for interested buyers to take advantage of certain incentives, meaning you could position yourself as the go-to for EVs in your area.
Lower Operating Costs: Electric vehicles aren’t just green in the ecological sense. They’re also known for their lower operating costs, thanks to fewer moving parts and the absence of an internal combustion engine. There’s also the comparative value in charging over standard gas that makes EVs very desirable for many drivers – not just eco-conscious ones. Dealerships that stock EVs can leverage this in their marketing efforts, highlighting the long-term savings buyers will experience.
Increased Foot Traffic: Carrying EVs can draw in environmentally conscious buyers or tech-savvy consumers who may not have previously considered visiting your dealership.
inride’s EV Auction Highlights:
Here’s a sneak peek of a few of the electric vehicles that were made available on inride’s auction platform:
2021 Tesla Model 3 – A highly sought-after electric sedan with autopilot capabilities and a 263-mile range.
2020 Chevrolet Bolt EV – Known for its affordability and 259-mile range, this compact hatchback is a favorite among city drivers.
2019 Nissan Leaf – A pioneer in the electric vehicle space, offering a smooth ride and a range of up to 150 miles.
2022 Ford Mustang Mach-E – This electric SUV combines performance and style, with up to 305 miles of range and a sporty design.
2021 Audi e-tron – A luxury electric SUV that offers impressive performance and advanced tech features.
These are just a few examples of the EVs that have been posted on inride. By browsing the auction platform regularly, dealers can stock up on the latest in electric vehicle offerings.