Three EV fun facts in under three minutes

Market data, batteries, charging, electrons, blah blah blah… Sometimes you’re just looking for something quick, something fun to get you through the 3 o’clock slump and into your next meeting, or something to watch while you brush your teeth, or whatever. So here’s three EV fun facts for you in under three minutes:

First: According to a recent report from Realtor.com, homes near EV charging stations sell for more!

In addition to wanting EV chargers installed in their soon-to-be residential homes, homebuyers are looking for houses with a closer proximity to an EV charging station.

Cities looking to increase property values for residents are identifying municipal EV charging stations as a key benefit that new and existing homeowners are looking for across the U.S. Shopping malls, restaurants, commercial buildings, parking areas – it doesn’t matter where they are, people just want them nearby.

The availability of public charging stations in the U.S. has actually more than doubled since 2018, according to the U.S. Department of Energy, and their data shows there are nearly 46,000 charging stations in the U.S.

Second: According to a new study by LendingTree, Tesla buyers are taking out the longest-lasting auto loans.

Researchers looked at loans closed on the LendingTree platform over the last three years to see where people take out longer car loans and how average term lengths have changed.

Auto loans originated through the LendingTree platform over the past three years have an average term of 62.9 months. The data shows Tesla buyers take on the longest loan terms, at an average of 67.1 months. Buyers of Ram trucks followed in second place at 66.3 months, on average.

Third: A recent report by market researchers Fact.MR has determined that sedans are the best fit for solar-powered EVs.

You don’t see too many manufacturers trying to develop solar-powered EVs today because they’re hard to get right, but companies like Lightyear are saying “hold my beer, check this out,” having raised $110 million in funding as of this past September, to be used to further production of its Lightyear One solar car prototype. So, they’re out there.

The study shows sedans are anticipated to be one of the fastest-growing vehicle types for solar power due to having a small and sleek design that improves the efficiency of the solar panels attached to the car.

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As MEMA commemorates its 120th anniversary, it’s an opportunity to reflect on the organization’s profound impact on the automotive aftermarket. Founded on March 2, 1904, MEMA has evolved from a modest gathering of parts manufacturers in Cleveland to a pivotal force in the global automotive landscape.

Over the decades, MEMA has been at the forefront of several key initiatives, including: the introduction of credit reporting services in 1914 to ensure financial stability within the industry; the co-sponsorship of the inaugural automotive service industry show in 1933, paving the way for what would become the AAPEX events; the establishment of divisions and market segments within MEMA to cater to the diverse needs of its members, from heavy-duty manufacturers to the aftermarket suppliers; and the advocacy for critical legislative measures, including the National Vehicle Safety Act of 1966, the USMCA in 2019 and today’s battle for the Right to Repair.