Auto dealers go ‘all in’ on EVs

Economy

Published: June 14, 2022 10:50 am

By David Callaway, Callaway Climate Insights

(Bill Sternberg is a veteran Washington journalist and former editorial page editor of USA Today.)

WASHINGTON, D.C. (Callaway Climate Insights) — With automakers preparing to roll out dozens of new models of electric vehicles, attention is turning to how all those EVs will be sold and serviced.

Startups such as Lucid (LCID) and Rivian (RIVN) are following the Tesla (TSLA) direct-to-consumer model, which is putting them at odds with the influential National Automobile Dealers Association, or NADA, and publicly traded dealership companies such as Asbury Automotive Group (ABG), AutoNation (AN), Group 1 Automotive (GPI), Lithia Motors (LAD), Penske Automotive Group (PAG) and Sonic Automotive (SAH).

In a recent interview with Callaway Climate Insights at NADA headquarters just outside the Washington Beltway, President and CEO Mike Stanton and Vice President of Communications Jared Allen discussed the growing EV market in the United States and why they believe franchised dealerships will play a pivotal role in EV adoption. . . .

To read the full column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.

Callaway Climate Insights Newsletter

It’s Your Money, Your Future—Own It (sponsor)

Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.

If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.