Uncovering the Untapped Tire Retail Business Potential of the Electric Vehicle Boom
What does the electric vehicle boom mean for tire retail businesses? It’s no longer something in the future, but a change in the industry that’s happening right now. Data from BloombergNEF found that, in 2022, 13% of passenger car sales around the world would be electric, fuel-cell, or plug-in hybrid. Germany had the most at 26%, while the UK had 24% and China had 23%. More so, 50% of all new cars sold across Europe by 2030 will be BEVs.
It’s Increasingly Important to Get the Right Tires
While those concerns may be factors for consumers, the right tires can offer a solution. It is more important than ever for consumers to be able to find the right set of tires for their electric vehicles.
Today’s modern EV tires can do a much better job. They are designed to handle more of the instant torque demands of these electric motors at a more efficient and safe level than regular tires. They are also more durable overall. They also tend to offer a nice level of noise reduction to help drivers and passengers enjoy a quieter cabin ride. The key concern here is that special EV tires are also more expensive.
To meet these demands and ensure the proper pricing is in place, it’s critical to ensure each vehicle owner gets the right tires for their car. They must get the proper tires to minimize wear and tear and costs. One way to do that is to empower drivers by ensuring they can scan their own tires to find replacements. This allows them to be 100% confident that they are only purchasing tires that are perfectly designed to meet the demands of the electric car. The incorporation of a tire size scanner on a retailer’s website can help with this. This is a simple resource available through Anyline that can change the game for retailers.
Building customer loyalty is a big factor in doing well through the EV boom. The key here is not just to take advantage of the higher demand for vehicle tires but also to build brand awareness and customer loyalty while doing so.
One way to do this is to digitize, something many tire manufacturers and retailers are already doing. Tesla is a great example. The business strives to centralize operations, including invoicing, distribution, and logistics. Customers can upload their personal documents without interacting with a salesperson after digitizing the entire system. That is just one example of why Tesla vehicle owners are so equipped to handle the needs of their cars. Tesla managers do vehicle handovers in five to ten minutes, whereas traditional automakers do so over a 30-minute period to handle all of the customer-facing and administrative tasks required.
Digitalization enables more efficiency, reliability, and speed. That is something that EV owners want and expect. It helps to build a stronger customer experience and helps encourage a good relationship between the retailer and the customer. That way, they are encouraged to come back to have all of their needs met on a consistent basis.