JD Power Says 87% Of All New Gas Cars Are Selling At Or Above Sticker Price In New Study — Great News For Electric OEM Electric Vehicles As More Consumers See EVs As Affordable; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Subsidiary Sells EV Charging Stations
Researcher JD Power says the price spike in gas cars means that 87% now sell at list price of higher. That’s great news for proponents of electric cars because the price gap is narrowing between gas-power and electric vehicles. As electric now owns 4% of total new car sales, the need for EV Charging Stations is growing. Enter Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. subsidiary, which installs EV Charging Stations for electric vehicles.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
JD Power Says 87% Of All New Gas Cars Are Selling At Or Above Sticker Price In New Study — Great News For Electric OEM Electric Vehicles As More Consumers See EVs As Affordable; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Subsidiary Sells EV Charging Stations
Consumers once saw electric cars as too expensive when compared to gas-powered vehicles. JD Power indicates that is changing. As 87% of all new gas vehicles sell at sticker price or higher, suddenly electric vehicles don’t look so costly. The relative higher cost of electric is in a shrinking gap.
New gas cars are higher priced and hard to find, The Wall Street Journal reports. On dealer lots, JD Power says, gas cars are few and sell fast. It reports that a new car vehicle sits on a dealer lot today only about 19 days. That compares to 48 days last year.
As demand for electric vehicles jumps, the need for more supporting EV Charging Stations increases. That’s great news for SIRC’s PLEMCo. subsidiary and other EV Charging Station installers.
Car buyers can’t find relief in the used car market, either. For the first time, used cars are selling higher than $30,000 on average.
In this market, electric cars are becoming more plentiful and affordable relative to gas powered models. Range-resistance is one of thee few remaining barriers to closing an electric vehicle sales — drivers want to see more EV Charging Stations.
General Motors (NYSE: GM) is all-in on an electric car fleet by 2030. Ford (NYSE: F) is, too. Ford’ reservations for its new ‘Lightning’ truck — in its ‘best-selling ‘150’ gas-powered truck space — are sold out.
General Motors (NYSE: GM) plans to introduce 30 all electric vehicle models globally by 2025, beginning with its first electric pickup truck being shown at trade events— a competitor to Ford’s (NYSE: F) new ‘Lightning,’ an electric version of its best-selling ‘150’ pickup truck.
GM’s goal is $280 billion invested by 2030 in electric cars. Electric car sales in the U.S. are soaring, more than doubling in the 1st half of 2021. JD Power Says 87% Of All New Gas Cars Are Selling At Or Above Sticker Price In New Study — Great News For Electric OEM Electric Vehicles As More Consumers See EVs As Affordable; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Subsidiary Sells EV Charging Stations.
Tesla, the leading EV vehicle OEM manufacturer, additionally owns 56% of the electric charging market. However, Tesla’s EV Charging Stations are mostly proprietary to Tesla itself. That leaves lots of market room for others in electric cars and EV Charging Stations.
SIRC’s PLEMCo. has been successful in winning government contracts to build EV Charging Stations. And SIRC itself is an applicant for some $100 million in new federal grants to help build more EV Charging Stations, under President Biden’s newly-passed Infrastructure Law.
The Federal government is providing tailwinds under its newly-passed ‘Infrastructure’ Biden administration bill. But that $1 trillion bill with incentives of about $7.5 billion for the EV industry cannot on its own force consumer sales. Too many simply want more EV Charging Stations. JD Power Says 87% Of All New Gas Cars Are Selling At Or Above Sticker Price In New Study — Great News For Electric OEM Electric Vehicles As More Consumers See EVs As Affordable; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Subsidiary Sells EV Charging Stations.
SIRC’s core businesses now are solar and roofing. But EV Charging Station installations residentially and commercially are planned to be major in SIRC’s future. SIRC’s workers are already in the home —- where 80% of all EV charging is performed, the government reports.
SIRC’s PLEMCo. is also active in the EV Charging Station industry that installs units not in the home. For SIRC, that’s an advantage. It can install EV Charging Stations in residences where it is already working, as well as in government facilities where chargers will be needed as Biden eyes building a fleet of some 500,000 electric vehicles.
Relative to gas vehicles, electric vehicles are focused on price. Drivers will be renting more electric vehicles in 2022 — but want to see more EV Charging Stations everywhere as they travel. In his new ‘Infrastructure’ law passed by the Congress, President Biden offers incentives to buyers of electric cars in the form a new tax credits The only caveat: the vehicles must be built by union labor in American facilities.
That leaves leader Tesla (NASDAQ: TSLA) out. Tesla CEO Elon Musk may not like it, but that provision protects unionized labor — such as UAW — from competitors.
Biden has announced a goal of a government-owned fleet of 500,000 electric vehicles — and significant carbon pollutant-reduction by 2030.
Until now, electric car companies and EV Charging Station locations have been playing chicken. Gas stations and convenience stores, like 7-11, have been reluctant to spend $100,000 or so to install fast-charger EV Charging Stations when EVs make up such a small percentage of the domestic car population.
Everything is at stake. Tesla may be the most visible electric car company to most consumers, but Wall Street investors know better. They are betting on Rivian (NASDAQ: RIVN) and startups like Foxconn.
The EV Charging Station industry, supporting the electric car industry, is seen as a sweet spot in the future.
SIRC is a proponent of an eco-system of green energy. The EV Charging Station sector is an important space for SIRC, in addition to its roofing, solar and rechargeable solar battery businesses.
JD Power Says 87% Of All New Gas Cars Are Selling At Or Above Sticker Price In New Study — Great News For Electric OEM Electric Vehicles As More Consumers See EVs As Affordable; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Subsidiary Sells EV Charging Stations.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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