ARTICLE · 03 APRIL 2023

Why 2023 Promises Great Expectations In A Value-driven EV Market

Vendigital

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Price remains a key factor for consumers considering buying an electric vehicle, but there are a range of strategies that manufacturers can adopt to increase their market share.

United KingdomTransport

Vendigital Ltd.

Dominic Tribe is a Partner and Automotive sector specialist at Vendigital. He recently shared his insights with E&T.

Price remains a key factor for consumers considering buying an electric vehicle, but there are a range of strategies that manufacturers can adopt to increase their market share.

It may still seem as if electric vehicles (EVs) have made little progress in the wider market, with reports showing only two models in the list of the UK's top-selling cars for 2022. Based on data from the Society of Motor Manufacturers and Traders (SMMT), this could be the result of different factors that are currently affecting the automotive industry, including rising inflation and cost of raw materials. With the cost-of-living crisis also influencing consumers' approach when shopping for a new car, what can EV manufacturers do to differentiate their offerings and win market share in 2023?

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