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As Demand for EVs Increases, and EV Resale Values Hold Stronger Than Any Other Vehicle Class, MotorCloud Traffic Surges

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As Demand for EVs Increases, and EV Resale Values Hold Stronger Than Any Other Vehicle Class, MotorCloud Traffic Surges

August 18
22:00 2022

Broomfield, CO, USA – August 18, 2022 – With gas prices dropping but still high, and manufacturers continually releasing EV’s with greater range, better functionality, and more affordability, the EV category has become the most searched vehicle class. The trend has pushed MotorCloud.com website traffic to new highs.

With more new EV models in the market, like Ford’s Mustang Mach-E and F-150 lightning, Hyundai’s Ioniq 5, startups like Rivian and Lucid Air, Volvo making a bid with Polestar, and GM committed to being a serious player in the EV game, the EV market has never had a more attractive selection for potential buyers.

And shoppers are flocking. EV searches were up 89% in March since this time last year, according to Google, with “electric truck” jumping 123% in that time. MotorCloud reported increases of 119% on EV’s and 141% on electric SUV’s and trucks, since December 2021. Motorcloud.com continues to be one of the main online platforms for researching and buying EV’s, with more EV listings than any other automotive site. When you have a smaller set of vehicles (there aren’t as many EV’s in the market as more traditional vehicles), it’s even more important to be sure you’re searching the entire market.

“Ford is seeing incredibly strong demand for its EV models,” according to Electrek.com. The automaker responded by reopening orders for the F-150 Lightning, and upping prices by up to $8,500 for the highest trim level. Electric pickups are going for 200% of MSRP on some secondary markets. Tesla Model Y and Rivian R1T both had price increases as well.

Bringing EVs back within reach of most household budgets are more affordable EVs, like the 2023 Volkswagen ID4, Hyundai Kona Electric, Mini Cooper SE, Mazda MX-30, Chevrolet Bolt and Nissan Leaf. Additionally, the Inflation Reduction Act was just assigned into law, which provides a $7,500 tax credit for EV’s. The bill expands the credit to manufacturers including Tesla and GM which were previously excluded from tax credits because they sold over 200,000 units.

As EV’s grow as a segment of the overall car market, and more car buyers make the switch from gas powered vehicles, MotorCloud continues to be the largest platform for EV shopping.

MotorCloud is the first true automotive search engine. It has the most complete index of vehicles on the internet, and brings market analytic tools previously only available to dealers, to the public. Visit www.motorcloud.com for more.

Media Contact:

Ted Reckas
Email: [email protected]
Mobile: 805-901-1426

Related Links:

www.motorcloud.com

Media Contact
Company Name: MotorCloud
Contact Person: Ted Reckas
Email: Send Email
Phone: 805-901-1426
Country: United States
Website: http://www.motorcloud.com

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