Business View Magazine | Volume 9, Issue 2

62 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 2 buoy dealership profitability in the face of declining revenues. While the industry grapples with continued supply chain pressures, that is not stopping the goals to bring more electric vehicles (EVs) to market. Our vehicle manufacturer partners have committed to spending more than 1/3 of a trillion dollars to develop and bring to market dozens of EV models. By the end of 2025, it is anticipated that there will be more than 100 new EV offerings and our members are excited to play a key role in the electrification of Nevada’s fleet. Dealerships across the state are investing millions of dollars in tooling, training, and battery charging infrastructure and will continue to be one of the nation’s leaders in the growth of alternative powertrain vehicles. According to the 3rd Quarter Nevada Auto Outlook report, Nevada was ranked fifth out of the top 15 markets for growth in electric/plug-in hybrid market share. NFADA expects this growth to continue due to expanded charging opportunities as a result of legislation recently passed by the Nevada State Legislature which directed the state’s major electric provider to invest $100 million in electric charging stations across the state. This will prove to be a vital part of the industry’s efforts to bring more EVs – both new and used – to our customers. While our industry is certainly facing unprecedented challenges, NFADA is bullish on the future of the automotive market. Our dealer members and their more than 11,000 employees will continue to work hard to ensure the nearly 220,000 vehicles they sell are safe and our customers will always have a trustworthy advocate for their automotive needs. Focus on the consumer has served Nevadans well for decades and will continue to for decades more.