With new apps available making investing an attainable option for anyone, young investors are increasingly attracted to the electric vehicle market – and to the surrounding conversation. Capturing customer experience analytics with social listening is critical, as their investment decisions mirror their buying habits. And next generation consumer and market intelligence helps us see how that looks behind the scenes!
Millennials’ Electric Love
Millennials love electric cars – and chief among them is, of course, Telsa. This is not surprising, as Telsa has been prominently referenced in the news for the past year or so, particularly in the electric car conversation. And its Cybertruck release gave the company, as well as its celebrity-status founder and CEO, Elon Musk, yet another boost in mentions.
Millennials are also being credited with helping Tesla’s stock price surge recently too.
But Telsa isn’t the only electric vehicle maker on the block, of course. And it’s not the only car company that Millennial investors are paying attention to – nor should they be.
Capturing Car Conversation
So, who else is capturing the electric vehicle conversation right now? Attempting to run Tesla off the road, we see the usual automotive major players:
- Volkswagen has the e-Golf and majority share in Audi and Porsche, which have each announced new electric cars in their line-up.
- Toyota has a few hybrid models
- Ford Motor Company hybrid and electric vehicles
- Hyundai has a fleet of alternative options
- Nissan offers the Leaf
- BMW offers a few luxury hybrids
- General Motors has its first of many electric options
- And Byd Auto’s electric taxi, targeting the enterprise
And then we see innovative, investment powerhouses like Mahindra & Mahindra, LG Chem and Migdal Insurance & Financial Holdings. With such an illustrious list of Who’s Who in the automotive and investment world seeking to lock in their share of this market, the stock price surge by those betting on Tesla becomes clearer.
By why do Millennials, in particular, love these electric vehicles so much? That’s the wrong question. They love ESG Investing, as a whole, and electric cars are just part of that equation.
Electric Car Craze Driven by ESG Investing
So what is ESG and why should brands care? – That is where the true insight lies. ESG stands for “environment, social and governance” investing.
ESG investing entails researching and factoring in environmental, social, and governance issues, in addition to the usual financials, when evaluating potential stocks for your portfolio. . . . Research is increasingly showing that this investing method can reduce portfolio risk, generate competitive investment returns, and help investors feel good about the stocks they own.
And we can see the conversational cluster in this investment area speak to precisely that. Investments that are sustainable, ethical and purpose-driven live here. And although Millennial stereotypes are typically a tad exaggerated, the one about them being environmentally conscious as a whole rings true – and finds support for both here. This, correspondingly, helps us understand their love for electric vehicles.
In fact, when measured as part of the overall investment conversation, it’s not just Millennials turning their attention – and passion – toward it. We see a small, passionate following active online. And it’s one that retailers of every ilk should be paying attention to:
Brand Messaging for Sustainability-focused Consumers
So, let’s connect back to electric cars and the conversations happening within this ESG subset. What are the top conversations about, exactly? And does it reveal buying habits that brands can learn from when it comes to creating their own products and messaging?
To answer this, we looked at stories shared on news and blog sites over the past six months and found a handful of themes – items that those in the industry are undoubtedly on top of. And that others should be aware of from an innovation standpoint:
Looking at the high-level overview, we see lots of exciting intel to explore more in-depth:
- There are concept cars at play, which are always fun to watch for – including the highly anticipated Cybertruck, mentioned at the outset.
- And the global electric vehicle market is something to watch, of course, as car manufacturers (and investors who love them) are really just starting to build steam.
- The India Auto Expo was a pretty huge draw, as will be other car and auto events coming up this year, no doubt.
- UK Hybrids are feeling a crunch as the country has sworn it will be petrol free by 2035, making those hybrids obsolete along with it.
- And then, electric vehicle (EV) owners themselves are important to understand, of course. Beyond “Millennials,” and ESG investing, there are many, many ways to segment these folks for promotional purposes. And there will undoubtedly be all sorts of EV accessories flooding the marketing soon as well.
- Rebates will be important incentives for many, as well brand partnerships of every variety.
Infrastructure & ESG Everything
And, interestingly, probably most importantly – infrastructure concerns reign supreme. Charging station availability is dominating the conversation in this space.
There are any number of ways for brands to explore the EV or ESG conversation right now – and they certainly should be. The push for sustainable options in every sector reaches well beyond the automotive industry. And next generation consumer and market intelligence ensures you’ll see those trends coming and be ready to adapt (or adopt) early. Reach out for a demo and we’ll show you how this could look!