According to a survey by Castrol Europe, the EV market in the UK could be worth £13 billion by 2025, just 4 years away.
However, 3 tipping points need to be met to achieve this. But are these tipping points real objections or just perceived concerns that require a little context?
- Price – 68% of UK consumers state that EVs are beyond their budget, with the ideal price tag identified as £24,000.
Objection - “the average EV is £5,000 over my budget”
Response – “Considering that many will buy on a finance plan, often on a PCP with a GFV, surely the most important figure is the monthly payment? Or even more importantly, the whole of life cost? Once VED, fuelling costs, maintenance and servicing are taken into account, perhaps your total monthly outgoings on an EV will pleasantly surprise you!”
- Charge Time – 69% require their charge time to be 30 minutes
Objection – “it takes too long to charge”
Response – “Around 80% of EV drivers charge at home, usually overnight, meaning charging times here are largely irrelevant. If you do need to charge when you are out and about, it is unlikely that you will need to spend more than a few minutes waiting to get enough charge to finish your journey”
- Range – 60% expect a range of 282 miles from a single charge. Range anxiety is still a big concern with the average consumer.
Objection – “I may run out of charge”
Response – “In reality, how many times a year does the average UK driver do a trip of 282 miles or more, let’s look at your typical journeys on a daily or weekly basis and see how often you would need to charge…”
Remember, it’s not just the features and the benefits that are important with these tipping points. It is the reassurance, confidence and know-how from the salesperson that will become more relevant. The need to have a voice with the market know-how, not just the brand know-how is what the average consumer is going to look for – and expect.