DETROIT, June 4, 2024 /PRNewswire/ — Urban Science®, a leading global automotive consultancy and technology firm, today announced the launch of its science-driven electric vehicle (EV) sales forecasting analysis for automakers with U.S. retail operations through its MarketView™ solution – a leading automotive sales analysis offering. This enhancement empowers automotive original equipment manufacturers (OEMs) to tap the power of Urban Science’s unrivaled industry sales* data and science-driven approach to make optimally informed decisions regarding EV allocation, inventory management and marketing strategies, and in turn promote short-and long-term efficiency, profitability and competitiveness across their U.S. retail operations.
MarketView EV sales forecasting analysis
Urban Science’s new EV sales forecasting analysis, delivered via the new MarketView EV dashboard, transcends traditional forecasting methods in the U.S. through quarterly updates of industrywide EV sales data, offering detailed insights into anticipated sales opportunities down to a local level. It also presents short- and long-term demand representations, empowering users to make proactive, science-driven decisions regarding allocation, inventory and marketing. These insights extend up to 10 years into the future.
The MarketView EV sales forecasting analysis delivers invaluable insights to automakers, providing comprehensive data for corporate- and field-based users to analyze EV growth trends in specific territories. This enables them to identify patterns in consumer adoption rates, preferred EV models and market share over time, guiding expansion opportunities aligned with OEM strategies. In the retail space, Urban Science’s EV sales forecasting insights – when enabled in MarketView by an OEM – empower dealers to identify and understand sales opportunity within their market(s). This in turn helps ensure their teams are trained and prepared to anticipate future EV sales demand and target and capture market share effectively. These insights also position dealers to plan for store-level infrastructure changes to support future EV sales and service growth.
Users can seamlessly access the EV sales forecasting analysis through Urban Science’s new MarketView EV dashboard, providing a holistic platform that helps automakers monitor performance and identify challenges and capitalize on opportunities related to the evolving EV marketplace.
MarketView EV dashboard
Winning market share in the growing and increasingly competitive EV market requires an in-depth understanding of EV sales trends, competitive fleet adoption rates and numerous market intricacies that are often not visible at surface level. Urban Science’s user-friendly EV dashboard delivers all the deep, valuable insights of MarketView through an EV lens. This enables automakers to fully understand what kinds of EVs are being purchased – and sales distribution – facilitating more informed inventory and marketing strategies.
In the U.S., the MarketView EV dashboard is powered by Urban Science’s unrivaled industry sales data, updated daily, positioning OEMs to make critical business decisions grounded in the industry’s fastest and most reliable data and insights – not speculation or weeks- or months- old registration data that has potential to create high-stakes plans rooted in obsolete information.
“Expanding the reach and impact of Urban Science’s EV sales forecasting capabilities through MarketView enhances our company’s ability to continue to guide leading global automakers toward more efficient, competitive and profitable EV futures,” said Tom Longo, executive vice president, the Americas, Asia Pacific and Europe, Urban Science. “This offering, alongside our new MarketView EV dashboard, unlocks access to data and insights that were previously exclusive to our consulting business, making the power of our science – and best-in-class insights – more accessible and convenient worldwide. We’re optimistic about the growth opportunities this move creates for our clients and our organization, and its potential to drive progress and success across our industry.”
Urban Science will launch additional EV-focused MarketView enhancements in the coming months. These enhancements aim to help OEMs and other key stakeholders gain a clearer view of charging station infrastructure and convenience. They include an analysis of how far, on average, EV drivers need to travel to reach a charging station and the ability to compare that to other markets. Additionally, users will be able to visualize charging stations on a map – and filter them by provider – to identify areas that might need optimizing to enhance consumer convenience that’s critical in promoting broader adoption.
About MarketView
MarketView is a leading automotive sales analysis solution that can quickly and easily analyze any combination of geography and segment key performance indicators (KPIs) against competitors in any given market, empowering automakers to achieve cohesion and clarity in even the most ambiguous market conditions. Users can track the impact of their network actions and view sales and market share – and changes by segment, model or geography – against industry and competitive benchmarks; this allows them to identify areas of opportunity to improve performance. Furthermore, MarketView unlocks access to extensive levels of vehicle attribute data for OEMs, delivering insights such as breakdowns by model, sales category, fuel type and geography, among others – all designed to organize and visualize granular data necessary for pinpointing opportunities and driving market share growth.
Visit UrbanScience.com/MarketView for more information.
*Sales refers to vehicle unit sales and does not represent vehicle price or revenue.
About Urban Science®
Urban Science is a leading automotive consultancy and technology firm that serves automotive original equipment manufacturers (OEMs) and dealers, and the advertising technology companies that support them, around the world. Headquartered in Detroit and operating in 20 office locations globally, Urban Science taps the power of its science – and its unrivaled data, solution offerings and industry expertise – to create clarity for clients in even the most chaotic market conditions. Visit UrbanScience.com for more information about how Urban Science helps automotive manufacturers and dealers gain a competitive edge by taking the guesswork out of critical business decisions, and in turn drives improved efficiency and profitability industrywide.
SOURCE Urban Science
