When will electrification of the car parc impact your business?
The 2030 ban on the production of ICE vehicles may seem like a problem in the distant future but the market is changing now. So, whether you already stock EVs or have never even had one on your forecourt, we want to support you on that journey. To help you, we’ve launched a new Retail Performance Masterclass which takes you through all you need to know about Retailing Electric Vehicles.
In this free masterclass, you’ll discover our latest top tips and hear from other retailers already winning in this area who will share some tips and tricks they have picked up along their EV journey way.
How will the 2030 ban impact you?
The reality is that the effects of the 2030 ban will be felt by retailers long before we reach the end of the decade. So let’s take a look at the road map from now until 2030 to see when it’s likely to impact your business.
By the end of this year, 22% of 0-1 year old cars in the parc will be electric and the market share of new ICE Vehicles (Including mild hybrids) will drop from 60% to 49%. Last year 92% of independent retailers didn’t stock any EVs, don’t miss out on this profit opportunity in an ever-growing market. If you’re just starting out on your electric journey this 90 minute masterclass will help you prepare for when an EV lands on your forecourt: Where to start
In just two years from now, we expect 45% of new car sales to be EVs and in 2026 over half of new cars registered will be electric. This means that if you are a franchise retailer, EVs could account for around 50% of the stock on your forecourt. If you’re an independent retailer, it’s likely that this stock will have already started flowing through onto your forecourts. So, make sure you’re prepared as more of your forecourt becomes electric and your sales teams are well equipped to answer concerns and questions about EV’s. Check out the ‘Education and upskilling’ masterclass.
By 2027 we forecast that 41% of 1-3 year-old cars in the parc will be EVs and ICE vehicles will only account for 20% of new car registrations.
Let’s say you have a stock mix of vehicles three years old and under, you’ll really start to see the transformation of your forecourt becoming more electric. You can use the Market Insight tool to see what’s in demand in your area and stock the right vehicles that consumers are looking for.
We’ve reached the end of our road map and we expect that by 2030 there’ll be around 8.2 million EVs on our roads. That would account for 90% of new car sales. We also forecast that 20% of 5-10 year old cars will be electric, meaning even if you stock older vehicles 1 in 5 available to you will be an EV. ICE vehicles will still be in the market, however, there will be a much higher demand for EVs. With the electric car parc continuing to grow each year, don’t get left behind and limit yourself in this area.
You can use data and insight to see what’s in demand and complete our Retailing Electric Vehicles module to be equipped for those EV consumers.
We also recently hosted a webinar dedicated to your questions and concerns about the EV market and were joined by award-winning EV retailers Martin and Estelle Miller, Founders of EV Experts who shared their experiences with having a fully electric forecourt. Catch up now if you missed it: Has the EV market collapsed?
All data quoted is Auto Trader’s internal data