With most manufacturers actively releasing or planning to release new electric vehicle (EV) models, this category is now predicted to make up the majority of new vehicle registrations by 2033. Given this significant, competitive shift in the market, auto lenders must gain a better understanding of the EV consumer to devise effective marketing campaigns targeting these buyers.
To aid in this endeavor, TransUnion recently conducted a study (based on 33M US consumers originating new EV and internal combustion engine (ICE) vehicles between 2019 and 2021) examining market trends and future growth prospects.
Access our quick guide for key study findings, including:
- EV market share growth rates and consumer behavior insights
- When in the sales funnel to engage EV consumers
- How auto lenders can successfully identify, target and capture EV consumers