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Following the untimely demise of the $7,500 federal EV tax credit on September 30, some analysts are taking an optimistic tack. They anticipate that automakers and dealerships will offset part of the loss with better deals and new incentives. That could help send EV sales ticking upwards again, but it’s not so simple. With so many different deals and incentives to choose from, how can prospective EV buyers be sure they get the best car for the money?
Nonprofit Has A Plan To Restore EV Sales Momentum
To be clear, the collapse of EV sales in October does not bode well for the future, at least over the near term. Rivian and General Motors are not waiting around for the dust to settle, either. According to news reports, both automakers have already started laying off workers at their EV facilities in the US.
Still, the nonprofit organization Veloz is among those pointing out that the vast majority of current EV owners will stick with electric when they buy their next car. That should help sustain the EV market for the time being, at least to a modest degree.
In a best-case scenario, EV sales will also get a boost from bargain-hunting gasmobile drivers who are new to the electric experience. These EV-curious drivers can use any number of online tools to figure out if their next car should be electric or not, but Veloz aims to level up the exercise with new resources that provide individual car owners with information specific to their area and driving habits.
“With these new resources, we’re giving drivers an interactive, trusted way to learn, stay informed, and gain the confidence to make the move to electric,” Veloz Executive Director Josh D. Boone observed in a press statement.
“Data shows that once drivers make the switch to an EV, they don’t go back to gas cars,” Boone emphasized. “The combination of lower costs, reduced maintenance, and a more enjoyable driving experience makes EVs not just practical but genuinely fun to drive.”
New Tools In The Vehicle Electrification Toolkit
Veloz is not your ordinary EV advocacy group. The organization, which launched in 2017, received $43.5 million from Volkswagen’s Electrify America venture earlier this year. The funds were poured into a new public awareness campaign under Veloz’s ElectricForAll.org online portal, which now serves as host for the new EV search tools.
The main attraction is a new gas and maintenance savings calculator. Aimed at underscoring the TCO (Total Cost of Ownership) advantage of EVs, the calculator drills down into specific details relevant to each user.
“Using highly precise data modeling, the interactive calculator forecasts an individual’s potential fuel and maintenance savings from switching to an EV, based on key real-life variables,” Veloz explains. Those variables include estimated miles of driving per year, type of car preferred, and the cost of gas in a driver’s area. The calculator also factors in the extent to which a driver anticipates using a home charging station or public chargers.
Veloz also describes two additional tools:
Used EV Finder: Drivers can enter their zip code in this user-friendly tool to instantly shop and compare used EVs available within a specific budget and geographic location on their device of choice.
EV Chat: This AI-powered assistant offers personalized conversations and answers questions about EVs, including topics from budget needs to addressing real-world concerns on what it is like to own an EV in your location.
A DIY Angle On The EV Sales Recovery
As for whether or not any of this will make a difference in EV sales over the coming months, that remains to be seen. Ford and GM are among the automakers planning to introduce more affordable EVs that tip the TCO balance farther over to the side of electric drive, but those models won’t be rolling off the assembly line anytime soon.
While Ford and GM represent a traditional sales and service model, the US startup Slate Auto is venturing into new territory that could also support an uptick in EV sales.
Slate aims to attract car buyers in the DIY automotive ecosystem. Earlier this year the company unveiled its first offering, the stripped-down, customizable “Blank Slate” two-door electric pickup truck.
In the latest development, on October 28, Slate announced that the Yelp-affiliated platform RepairPal will provide its customers with recommendations for certified service centers in their area.
“Slate’s OEM partnership with RepairPal’s nationwide network of service centers will give Slate customers peace of mind, while empowering independent service shops to provide accessorization and service,” explained Slate COO Jeremy Snyder in a press statement.
Although Slate encourages its customers to DIY their own customizations, most of them are more likely to seek help, and that’s where RepairPal comes in. “Slate believes that customers deserve the power to customize, accessorize, and repair their own vehicles, backed by the support of RepairPal’s network of highly skilled service technicians,” Slate explains.
In particular, Slate anticipates that trained staff at RepairPal shops will take care of electrical and battery-related issues. “Over 200 locations across the U.S. are already certified by RepairPal to handle high-voltage repairs on electric vehicles,” Slate notes.
Finally, An Affordable Tesla … JK!
Of course, no story about EV sales in the US is complete without a mention of industry leader Tesla. The company’s brand reputation is circling the drain alongside the ongoing, Nazi-adjacent antics of CEO Elon Musk, but it still accounts for the biggest single slice of EV sales in the US, at nearly 50%.
That share may go down as other EV makers edge closer to the more affordable mark of $25,000. Musk teased a $25,000 Tesla back in December of 2023, but such a creature hasn’t materialized. Though, rumors of a more affordable Tesla resurfaced again recently.
The forthcoming car, if it ever comes forth, is known by the codename Project Redwood, which is … an interesting coincidence! Redwood Materials is the name of the EV battery recycling startup launched by Tesla cofounder and former CTO JB Straubel.
In the latest news from Redwood (the battery recycler, not the EV project), the company has just nailed down a Series E funding round of $350 million, with the firm Eclipse in the lead along with other participants.
“This is a pivotal time for both Redwood and the United States, as curtailment in international supplies overlaps with intense domestic demand growth for these same materials and energy products,” Redwood stated.
Hmmm … that sounds like an endorsement of the idea that the demand for EVs is not going away. If you have any thoughts about that, drop a note in the comment thread.
Image (cropped): Electric vehicles and EV charging station courtesy of US Department of Energy.
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