They’re EVerywhere: Electric Vehicles & the Automotive Aftermarket
Special tools. Special training. Special products. While they might have wheels and windshields, electric vehicles are nothing like their predecessors — and understanding their requirements is more essential than ever.
According to the International Energy Agency (IEA), over 500 electric car models are available worldwide and nearly 14 million new EVs were registered in 2023, highlighting a 35% year-over-year increase in sales.
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Here are three steps businesses in the automotive aftermarket can take to remain competitive as the EV market shifts into overdrive:
1. Invest in Training and Education
As EV technology continues to evolve, aftermarket professionals need to acquire new skills related to advanced diagnostics, battery technology, high-voltage safety protocols, and more. While this is a must for technicians, wholesalers, distributors, and retailers will also benefit from expanding their knowledge in key areas of EV repair and maintenance so that they can best serve their customers.
Not sure which skills and information you need to stay competitive? AAPEX provides up-to-the-minute, quality education for aftermarket pros, both online and at the event.
2. Update Your Toolbox (or Inventory)
The 2023 Joint EV Trends and Outlook Forecast report from PwC and AAPEX revealed that small- to medium-sized service providers will need to invest between $80-270K in order to be prepared for the electrification transition, since EVs require unique equipment for tasks such as battery testing and software updates. By having the right tools on hand, repair professionals will enhance customer satisfaction and loyalty — and distributors can do the same, by making sure their offerings include the latest and greatest EV solutions.
Wondering which products you should be investing in now? AAPEX connects you to companies on the cutting edge of EV innovation, like Autel, Garage Gurus, Prestone, ZF, and more.
3. Watch for Regulatory Shifts
As the EV market matures, regulations will continue to change. Keeping up on topics like safety standards and licensing requirements for EV service providers goes a long way toward ensuring quality service, demonstrating expertise, and building trust with customers.
Looking for an efficient way to get up to speed on the latest EV developments and products? AAPEX 2024 will feature an entire EV Experience - keep an eye out for the stage lineup.