We are always looking at trends, trying to determine what consumers want. It happens in every type of market, including car sales. One of the hot topics in recent years is how many car shoppers are buying electric vehicles. Are people buying them, and how much of the market share are EVs? Well, the news is good for dealerships with EVs to sell because the market share is up.
January’s Numbers Show Interesting Trends
The EV sales numbers for January tell an interesting story. New EV sales saw a drop in volume, which is not a surprise for January, but the market share was at a record high. January was the tenth month in a row, with over 100,000 new EV units sold.
If you’re in the market for a new electric vehicle, now is a good time to start shopping. The supply increased in January, giving lots of options to choose from.
The Used EV Market Continues to Grow
But the story doesn’t end with new EVs; used EV sales are also up. Increasing by 3.5%, which is the second-highest volume in history. While this is good news, it also means that the supply of used EVs is a little tighter than what we’ve seen in the past.
The high demand for used EVs is most likely driven by a few factors. They are more affordable than ever, and there are tax incentives for many used EVs. If you’re wondering about electric and hybrid vehicle service and maintenance, including the battery, most have warranties to give you some extra peace of mind.
What Does 2025 Hold for Electric Vehicles?
If analysts are correct, 2025 will be a pivotal year in the world of EVs. While there is still some uncertainty with the possible removal of the tax credit and potential tariffs, car buyers are still considering them. Total car sales are expected to grow by 3%, and EV sales are expected to grow, too.
What You Need to Know About Maintaining an EV
Maintaining any car is essential to staying safely on the road. Electric and hybrid vehicle service and maintenance is a little different than maintenance for gas-powered vehicles, and in many cases, it’s even cheaper. EVs, in general, require less maintenance than their gas counterparts because they have fewer moving parts.
Consider this: there’s no oil to change every few months when you drive an electric vehicle. With technology such as regenerative braking, the brakes tend to last a little longer. On the other hand, there are a few maintenance items that you still need to keep up with. Rotating the tires, replacing fluids, and changing cabin filters are a must, no matter what type of car you drive.
Are you considering making the switch to electric or hybrid power for your next vehicle? New and used models are becoming more affordable, and with manufacturers adding new models to their inventory every year, your options are increasing.
