Electric vehicle (EV) sales are on the rise and likely to make up the majority of new vehicle registrations by 2033.1 As capturing market share in this space becomes a higher priority for lenders, understanding EV consumer behaviors and demands will be critical to identifying, targeting and capturing the right buyers.
In a newly released study, TransUnion examines the current and growing EV landscape — including where most purchases are occurring, how buyers are financing their EVs, and whether EV brands appeal more to existing luxury or mainstream vehicle owners. Read our market brief to learn:
- How new EV market share has grown since 2020
- How credit profiles differ between mainstream EV owners and luxury vehicle owners
- Ways to identify EV financing opportunities and target consumers earlier in the sales funnel
- Strategies for getting ahead of the digital shopping curve