4 key elements that will influence the electric vehicle market – Liza Borches, Carter Myers Automotive

Carter Myers Automotive is working to bring more consumers to the electric vehicle market. On today’s show, we’re gaining insight with Liza Borches, President and CEO of Carter Myers Automotive. 

Borches begins the conversation by talking about embracing electric vehicles. She believes it’s going to be fascinating to watch over the next decade as more automakers jump into electrification. The industry is going to be filled with electric options very soon as 91 new EV models are scheduled to hit the market in the near future. Retailers continue to be contacted by manufacturers to prepare for the arrival of EVs by investing in charging infrastructure, proper training, and new tools. Retailers have to make difficult decisions without knowing how consumers will respond.

Borches then discusses four elements that will influence the market for electric vehicles in the near future.

The first factor is awareness and education about how EVs fit into the lives of consumers. Automakers have to strategically place ads that will showcase how EVs can meet the needs of all types of customers. Borches believes that new EV models will play a big role in bringing in new customers to the EV market.

The second element is the arrival and availability of new EV models that cater to consumers in the United States. To this point, customers have been limited by electric models that don’t meet their needs. However, new electric SUVs and pickup trucks that are expected to hit the market will give Americans the options they are looking for when purchasing a new vehicle.

The third element Borches expects to see is the difference in price point and additional rebates. In the past, EVs have been dramatically more expensive than traditional combustion engines. 

The last element Borches covers is charging infrastructure. The current infrastructure doesn’t give consumers confidence that they can rely on EVs to make their daily commutes. Borches believes federal and state initiatives will drastically change electric vehicle charging in the U.S. This will help reduce range anxiety for the majority of consumers.

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