Business View Magazine | Volume 9, Issue 1

50 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 1 locates the nearest available charger as part of their informational dashboard – which will ease consumers’ range anxiety. Today’s manufacturers have more than 80 new models of EVs and plug-in hybrids set for introduction in North America over the next five years. Additionally, the median range for EVs sold in 2021 is roughly 260 miles. This compares to an average range of only 90 miles in 2015. Advances in battery technology will continue to significantly benefit tomorrow’s EV drivers. Even as new EV models are hitting the dealership showrooms, the average age of the vehicles on the road today is approaching 12 years old. Accordingly, the gas-powered vehicles and related gas stations will remain a common fixture on America’s highways, well into the next decade. Nonetheless, new technologies combined with advances in battery technology will firmly position EVs as a viable consumer option in the near future. DEALERS WILL REMAIN A KEY PART OF THE CONSUMER TRANSACTION For more than 30 percent of consumers, the purchase of a new vehicle represents one of the largest, and most complex, transaction in their lives. Challenges such as selling the current vehicle, transferring insurance, and registering the vehicle with the local tax department or DMV are all services that will continue to be offered by dealers as part of the transaction. The local franchised dealership is the best trained, best equipped, and best prepared resource to assist consumers with the purchase and repair of tomorrow’s new EVs. In addition to the training, new equipment, and capital expenditures related to EVs, dealers will continue to competitively embrace and adopt digital processes that will allow consumers to complete many of the administrative tasks before setting foot in the dealership. These competitive practices will shorten the purchase