Electric vehicles (EVs) are becoming increasingly popular in the UK, with more and more people choosing to make the switch to eco-friendly transportation. As a result, there is a growing demand for EV charging infrastructure across the country. This presents a significant opportunity for UK dealers, who could earn up to £27m in revenue from selling and installing EV chargers.
According to a recent report by the Society of Motor Manufacturers and Traders (SMMT), the UK needs to install 2.3 million public EV charging points by 2030 to meet the growing demand for electric vehicles. This represents a huge opportunity for dealerships, who can offer customers a one-stop-shop for purchasing and installing EV chargers.
The report estimates that dealerships could earn an average of £1,000 per charger sold and installed, which could generate up to £27m in revenue for the industry as a whole. This revenue stream could be particularly important for dealerships, which have been hit hard by the COVID-19 pandemic.
In addition to the financial benefits, offering EV charging services can also help dealerships to attract new customers and retain existing ones. As more people make the switch to electric vehicles, they will be looking for convenient and reliable places to charge their cars. By offering EV charging services, dealerships can position themselves as a trusted provider of sustainable transportation solutions.
However, there are some challenges that dealerships will need to overcome in order to take advantage of this opportunity. One of the biggest challenges is the cost of installing EV chargers, which can be significant. Dealerships will need to invest in the necessary infrastructure and equipment, as well as training their staff to install and maintain the chargers.
Another challenge is the complexity of the EV charging market. There are many different types of chargers available, each with their own specifications and requirements. Dealerships will need to stay up-to-date with the latest technology and regulations in order to offer the best possible service to their customers.
Despite these challenges, the potential rewards of offering EV charging services are significant. By investing in this growing market, dealerships can not only generate new revenue streams but also position themselves as leaders in the transition to sustainable transportation. As the demand for EVs continues to grow, dealerships that offer EV charging services will be well-positioned to meet the needs of their customers and drive the industry forward.
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- Source: Plato Data Intelligence: PlatoData