How Electric Vehicle Shoppers Justify a Higher Price Tag

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If your dealership is wondering how you can increase revenue from your electric car sales, consider this promising data: according to our recent EV Survey, consumers expect to pay more for an electric vehicle over a comparable (internal combustion engine) ICE vehicle. This doesn’t mean that car shoppers buying an EV are a done deal, though—these customers are willing to spend more based on certain benefits that electric vehicles offer.

By knowing and highlighting these EV benefits, your store can adjust your sales and marketing strategies to attract more in-market EV buyers and amplify electric vehicle sales.

Sales and Marketing Strategies to Overcome Electric Vehicle Sticker Shock

Just How Much Are EV Buyers Willing to Spend?

It isn’t only consumers interested in buying an electric car: all segments of survey respondents—Intenders, Undecided, and Reluctants—indicated the expectation that an electric vehicle will require a higher spend.

When asked how much more car shoppers expected to pay for an EV over an ICE vehicle of a similar size and quality, Intenders stated they’d expect an average price difference of $12,000, with around 50% of consumers expecting a price difference ranging from $5,000 to $15,000 more than an ICE.

The Benefits That Justify the Higher EV Costs

Some car shoppers may be aware of the many benefits that electric vehicles offer over ICE vehicles and are willing to spend more when they buy an electric car. For your undecided EV customers, you can help demonstrate the value that justifies the additional costs of EV ownership by highlighting the benefits consumers want most.

Across the segments, electric vehicle buyers valued the savings on gas, taxes, and maintenance as the main justifications for a higher EV purchase price. Here are the top benefits our survey generated (in order of importance):

  • Savings on fuel
  • Added tax credits
  • Lower general maintenance costs
  • Decreased environmental impact
  • Higher vehicle longevity
  • Convenience of charging at home rather than visiting a gas station
  • Lower costs of maintenance for brakes due to regenerative braking
  • Fewer chances of breakdowns or major repair needs

Focus on the Benefits in Your EV Sales and Marketing

If your electric vehicle sales and marketing efforts have been less than profitable, adjust your strategy to focus on the benefits that your ideal shoppers prefer.

EV Marketing: If you haven’t already, invest time into developing your electric vehicle buyer personas. These detailed customer segments—including the desired benefits mentioned above—will help make your marketing strategy more effective so your store can draw the best in-market buyers to your showroom.

EV Sales: Once your car shoppers are on your lot, ensure your sales strategies include a team that is equipped with the knowledge and tools they need to provide an excellent experience. By featuring the main benefits of EV ownership, your sales staff can help overcome the initial EV costs these car shoppers will encounter to close the deal.

Ready to Vitalize Your Electric Car Sales and Marketing?

Affinitiv Essentials, powered by Voltage for EVs, is the solution for your dealership marketing, helping you capture in-market car shoppers and keep them engaged. Our experts are here to guide you through the process, so your store can generate more revenue while keeping sales and marketing costs low. Contact us today to discover all our dealership solutions.


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