Electric vehicle sales is surging in Europe as Norway, Denmark, and Luxembourg are leading the way in the adoption and support of EVs. However, some countries are lagging behind as a recent study has found that Cyprus, Turkey, Poland, North Macedonia, and Bosnia and Herzegovina have the lowest adoption rates of EVs in the continent. Cyprus, in particular, has met its goals to increase the number of electric and hybrid vehicles, but the country is still facing challenges that are slowing down mass EV adoption.
Since EVs are still viewed as niche products in certain parts of the world, electric vehicle manufacturers and their marketing teams should come up with a strategy to educate consumers so they can be confident about making a new vehicle purchase. Addressing main issues in EV adoption and highlighting this eco-friendly vehicle’s benefits can help to increase sales and build trust in EVs at the same time. Here are some marketing strategies to drive growth and overcome challenges in the EV sector.
Cost of Electric Vehicle Ownership
According to a 2023 survey, the high cost of electric vehicles is one of the reasons why Cypriots are unsure about getting an EV. The poll reveals that those who are in the market for a brand new vehicle were willing to pay €20,000 for an EV, but 46 percent of EV owners ended up paying more than €40,000. While it’s true that battery-powered vehicles are more expensive than gasoline-fueled cars, there are several factors that make EVs more cost effective in the long run.
To boost sales, electric vehicle manufacturers and dealerships should emphasise that EVs have lower maintenance and overall costs. The World Economic Forum states that buying an EV saves an average of $4,780, or around €4,402 over a typical seven-year period of ownership. Electric vehicles are also cheaper and simpler to maintain since they don’t require oil changes or gasket replacements, among others. What’s more, EV drivers are estimated to spend 60 percent less each year on fuel costs compared to drivers of conventional cars.
When shopping for new electric vehicles, consumers can further save on their car purchase by checking for efficiency. This is measured by how many kilowatt-hours of electricity the car consumes per 100 miles. Although top-of-the-line EVs like the Tesla Model 3 and Porsche Macan are known to be some of the most energy-efficient EVs on the market, budget-friendly models like the 2024 Nissan Ariya and the Hyundai IONIQ 5 aren’t far behind and can cover a lot of ground on a single charge.
Battery Range
Many EV drivers experience range anxiety, which is the fear that their vehicle may not have enough energy to take them to their chosen destination. This fear is valid, and it’s real– after all, no one wants to be stuck on a lonely highway in the middle of nowhere just because their EV battery ran out of power. Regardless of their destination, drivers should be able to trust in the reliability of their EV batteries.
Car manufacturers should make it a point to address range anxiety to promote the adoption of electric vehicles. Most people who drive short distances can charge at home. While some may balk at the thought of having high electricity bills, they can be advised to charge during off-peak hours to save on energy costs. In Cyprus, for instance, the off-peak hours will depend on which tariff you’re on. If you’re on the 2 rate, the off-peak hours are from 11PM to 9AM, so charging between these times is highly recommended.
Another factor that’s stopping people from investing in EVs is the lack of charging infrastructures in their area. Knowing where public charging stations are located not only alleviates range anxiety in people who drive more than 40 miles per day, but it also gives them the confidence to go anywhere in their new vehicle. Using apps like Electromaps can help people determine the number and locations of charging stations in a country or city. For example, in Cyprus, the app states that there are currently 132 charging stations in the country, with Limassol having 36 charging stations. It’s also crucial to let people know that more charging infrastructures are in the works as the EU is committed to reaching net zero carbon emissions by 2050.
Consumer Education Programs to Market EVs
Digital marketing has been instrumental in educating consumers about EVs. But nothing beats seeing the vehicle and experiencing it in real life, so if you’re working for a dealership or an EV manufacturer, plan on having in-person promotions to attract a diverse market. Interactive EV demonstrations can be highly beneficial to get the message across. Offering attractive incentives and financing options can also help to boost sales and make it easier for people to choose EVs over gas-fueled cars. Enhancing the buyer experience through test drives, providing assistance from knowledgeable staff, and having special events featuring EV experts can all raise awareness of electric vehicles and let people know why they’re the better choice in the long run.
It’s plain to see that most consumers who are intrigued by the idea of owning an electric vehicle have fears and concerns that are stopping them from making a purchase. But by helping customers understand the value of EVs, you can build trust and promote EV adoption within your community.
