Generous leasing incentives, more model options in the market, and a buildup of charging infrastructure across the Mahoning Valley and the country has helped to convince more consumers that electric vehicles are indeed a practical investment.
“When it becomes a kitchen table deal. When you’re sitting there saying ‘I can make that work.’ That’s when people start picking them up,” says Greg Greenwood, president of Greenwood Chevrolet in Austintown. “The numbers work.”
In October, consumers purchased 17 electric vehicles from dealers in the Mahoning Valley, Greenwood says. The Greenwood dealership sold six of those vehicles, or more than 35% of the local EV market share that month.
Greenwood says that GM’s strategy to introduce EV options in some of its most popular models this year – especially the Equinox and Blazer – has proven successful as customers gradually warm to the prospect of owning an EV. “They [GM] are seeing some really good north central region numbers in high lease markets – ours being somewhat like that – and employee markets, Michigan in particular,” he says. “If they’re getting that kind of momentum, it’ll make it down to Main Street.”
EV SALES ON THE RISE
Although data show that the rate of EV sales in the United States slowed during the third quarter compared to the same period in 2023, sales still climbed by 11%, according to estimates from Kelley Blue Book. The auto consumer organization reports that an estimated 346,309 EV units were sold during the third quarter, a 5% increase from the previous quarter. Electric vehicles also constituted 8.9% of total vehicle sales during the period, the highest share yet and an increase from 7.8% during the third quarter of 2023.
“One of the biggest things we’ve seen over the last year has been the buy-in from us at Greenwood Chevrolet,” says Kevin Lawson, Greenwood’s sales and leasing consultant and EV specialist. “We’ve been exposed to more EVs. We’ve been able to drive more EVs,” he says. “We can show our customers the benefits of going electric.”
Drivers are also seeing more EVs on the roads, Lawson says, evidence that these vehicles are moving into mainstream usage. “That’s opened the mind of some of our customers and has really made it an option,” he says.
This awareness, plus competitive lease deals, have helped drive some of Greenwood’s customers to seriously consider an EV for their purchase. “Some of my customers are having a lower payment on an electric vehicle than its gas-powered counterpart,” he says. “When it’s less than a gas-powered vehicle and you’re also saving on fuel, that really makes you at least consider an electric vehicle.”
Battery range has also improved on EVs. A 2025 Equinox EV, for example, can travel more than 300 miles on a single charge, while the Silverado EV boasts a range of 440 miles on a single charge, GM has reported.
The number of charging stations has also increased within the Mahoning Valley and at various points across major highways throughout Ohio. In September, GM announced that its EVs are eligible for adapter plugs that could accommodate Tesla’s nationwide supercharger network, increasing the number of charge points for GM electric vehicles by more than 17,000 across the United States.
All of Greenwood’s EV sales in October were leases, Lawson elaborates. To buyers, this makes sense since EVs are still relatively new in the market, and leasing allows options for customers should they discover that an electric vehicle is not the right fit at this time.
“It’s a little bit of a smaller commitment,” he says.
At the end of the three-year lease, for example, a customer can either turn the vehicle in and lease another vehicle or exercise the option to buy it.
“While our customers and people are getting acclimated to EVs, they can make that small step by leasing and making the smaller commitment,” he says. Leasing rates, he adds, vary. They depend on several factors, including how much a customer is willing to put down toward the lease.
Incentives tied to EVs are nearly twice those of the industry average, according to Kelley Blue Book data. This year, EV leasing deals on average have provided incentives of 12% of the vehicle transaction price, compared to a 6.5% average across the traditional auto industry.
“We definitely have seen some momentum in the market that we haven’t seen before,” Lawson says, noting he believes the lease programs will remain in place in 2025. “They’re doing what we wanted them to do. They’re creating exposure and awareness about EVs. We also expect the rebates and tax credit to stick around for a while to help us build this,” he says.
NEW EV MODELS ROLL IN
Greenwood is building its EV inventory to keep pace with demand the dealership experienced through October, Lawson says. “If we stay on track with those kinds of sales, we’re going to be just fine. We’ll have the inventory we need to keep up with our customers’ demand.”
Bobby Beshara, new and used car specialist at Greenwood, says he’s witnessed a shift in consumer interest since the beginning of the year. At that time, the dealership had yet to build a significant inventory of Chevrolet’s EV models.
“We started getting some inventory but there was no interest,” Beshara recalls. By summer, however, the dealership had available some of the brand’s most long-awaited models. The Blazer EV arrived in late 2023, while EV versions of the Equinox and Silverado pickup followed in June and July.
Interest began to build in August, Beshara says. Exposure during the Canfield Fair in early September helped to boost sales, he says. “In the Chevy tent, everybody was circling the EVs. No one was looking at the gas vehicles,” he says. Two weeks later, Beshara sold his first EV.
Over the next six weeks, Beshara says he closed six more EV deals. Some of these customers were specifically looking for an EV based on fuel savings while others were shopping for the best lease contracts. “If they keep the lease programs the way they are, you’re going to see the Equinox and Blazer everywhere,” Beshara says.
Sean Franks, a sales associate at Greenwood, says he recently traded in his Chevrolet Tahoe and purchased a 2025 Equinox EV. The transition, he relates, saves him approximately $700 a year that he would normally pay in fuel costs. They also lowered his monthly payments by $250. “It’s such a fun drive,” he says. “[And] we think we’re better for the environment, not consuming as much.”
While EV versions of the Equinox and Blazer hold promise for mass appeal, some of Chevrolet’s higher-end iconic models have added electrification to enhance performance.
One of the most intriguing is the 2025 Corvette E-Ray, the first all-wheel drive, electrified Corvette, says Jim Conlin, new car manager.
The first of these vehicles rolled into the dealership Oct. 31.
“We’re really excited that we’ve finally received our first E-Ray,” Conlin says. The model in Greenwood’s showroom comes in “hysteria purple,” one of just seven in the country in that color.
The vehicle targets the Corvette enthusiast with a high price tag – the E-Ray starts at more than $100,000 – and introduces several firsts in the Corvette legacy.
“It’s the first ever all-wheel drive and the first-ever electrified Corvette,” Conlin says.
The E-Ray, however, is not classified as an electric vehicle, he says. Instead, it comes powered with both a gas engine and an electric motor; the electric motor governs the front axle. “This vehicle does not have a charging port,” he says. “The engine will charge the [electric motor].”
Electrification in the front of the vehicle enables the E-Ray to increase its punch by another 160 horsepower to 655 horsepower.
“It enables this vehicle to go 0 to 60 in 2.5 seconds,” Conlin says. “It’s just phenomenal.”
Still, the E-Ray represents a niche market that is far afield of most buyers. But it’s the basic mainstream vehicles that are starting to catch the public’s eye.
“We’re having more roll in every day, the lease programs are enhanced, and it’s very affordable,” Conlin says. “It now makes sense to have an EV and we’ve seen the growth.”
Pictured at top:
The steering wheel and dashboard of the Corvette E-Ray.