J.D. Power Explores the Road for EV Skeptics to Become EV Buyers
As new electric vehicles continue to debut in the marketplace, addressing consumer concerns is crucial to turning them from skeptics to shoppers—and then buyers. J.D. Power experts discuss aspects of the electric vehicle ownership experience during the next “Golden Age of Used Vehicles Podcast” episode, including charging infrastructure and residual valuation, which remain areas of opportunity in the marketplace.
Jonathan Banks, Vice President and General Manager of J.D. Power Valuation Services; Eric Lyman, Vice President of ALG; and Stewart Stropp, Senior Director of Automotive Retail; join Jack Nerad, automotive author, journalist, radio host, North American Car of the Year Vice President and Motor Press Guild President in the series’ third episode and part two of “The EV Future and How We Get There.”
“What people want is an affordable vehicle. They want a car that is just like what they get from their current product offering (gas engines). As new product flows in, as people start to realize the benefits in other applications, I think we’re really going to see an explosion in demand.” – Jonathan Banks, Vice President and General Manager of J.D. Power Valuation Services
“What we see in people not considering EVs, is one in three say that it’s a lack of information that’s a key reason for why they’re not considering EVs. That’s really a very actionable opportunity for automakers, for retailers, other stakeholders to get more information out there to the car-buying public and help them get more confident in the technology.” – Stewart Stropp, Senior Director of Automotive Retail at J.D. Power
“The good news is that we’ve seen residual values strengthen for BEVs (battery electric vehicles). The bad news is because of the higher price point…we’re seeing that they’re still not holding the same calculation in terms of percent residuals.” – Eric Lyman, Vice President of ALG, a division of J.D. Power
Geno Effler, J.D. Power