S&P Global Mobility’s Post

1.63 million EV motors deployed in March 2024 March saw a big rally in EV sales and resulted in the fourth highest total of EV motors deployed ever at 1.63 million, beating each of the first 10 months of 2023.   PMSMs show no sign of relinquishing market share at 81.8% in March, exactly the same as the market share held over the entirety of 2023. New vehicles continue to bring a diverse range of motor topologies and setups to the market from mass market models with single motor setups like BYD’s Yuan UP BEV, to Li Auto’s 400kW PMSM & Induction Motor combo and Lamborghini’s first venture into the EV world equipped with three motors, two Axial Flux and one PMSM. After a stable run through 2023, the vehicle power tracker has seen more fluctuation so far in 2024, again reaching a record high at 174kW. This data is taken from our EV Motors Monthly Assessment. To request a sample of the full report, click here: https://bit.ly/3t6VXJP #EVMotors #EVMarket #EMobility #RhoMotion

Interesting data points on EV sales by size class: 1. In the US, in 2023, SUVs (small or standard class) formed 59% of EV (BEV+PHEV) sales. That percentage is quite high in PHEVs (83%) vs. BEVs (53%). One reason could be that SUVs are larger in size and require larger batteries if one has to stop worrying about range anxiety. A PHEV addresses that problem, while a BEV consumer has to do more homework before embarking on a long road trip. 2. Midsize/large cars accounted ~ for 30% of BEV sales, while they were just 3% of PHEV sales. #automotive #electricvehicles #vehiclesales #SUVs Source: Source: Argonne National Laboratory, Light Duty Electric Drive Vehicles Monthly Sales Update. https://lnkd.in/g5pw7EVy

Rising hybrid vehicle sales supporting PGM demand.   Platinum and Palladium prices are rising this morning and Rhodium edged up to a 10-month high on the back of increasing plugin hybrid vehicle (PHEV) sales and more sustained internal combustion engine (ICE) vehicle demand than expected, amid a slow-down in battery electric vehicle (BEV) sales.    PHEVs can require up to 15% more PGMs than ICEs to mitigate emissions in line with tightening regulations in most countries. PHEVs tend to be less costly than BEVs and demand for hybrid vehicles is expected to increase as the move to lower-emission economies gains traction. Automakers, such as Volvo and Hyundai, plan to increase PHEV production, and are cautious over BEV expansions, which should support PGM demand. To register for the PGMS ARE NOT DEAD webinar visit our website: https://lnkd.in/dNDEWRW7

New Report Shows EV & PHEV Sales Up–Chargers Not Fast Enough https://lnkd.in/ge_g3Jtc auto connected car newsAlliance for Automotive Innovation today released its exclusive state-by-state analysis of the U.S. electric vehicle (EV) market for Q2 2024. The Get Connected Electric Vehicle Report Q2 2024 summarizes EV sales and purchasing trends across all 50 states and a breakdown of light-duty market share by powertrain (2016-2024). Sales up sequentially and year-over-year EVs represent 9.96 percent of new light-duty vehicle sales in Q2 2024, up from 9.34 percent in Q1 2024 and 9.05 percent in Q2 2023; 117 EV cars, utility vehicles, pickup trucks and van models now available for sale in the U.S. in Q2 2024. Light truck sales represent 84

Interesting stats from Q2 data: 1️⃣ Share of HEV, PHEV, and BEV #electricvehicles is up from Q1. Most of this is due to an increase in HEV #car sales. 2️⃣ #BEV sales are flat despite costs going up 15-20%; in other words, it didn't hurt sales. 3️⃣ #Tesla had <50% of the new car sales marketshare. This is the first quarter that Tesla has been less than the majority since 2017. https://lnkd.in/eY_Ag7cE

Check out a recent post I wrote on household migration by fuel type. We know that sales of Hybrid and EV vehicles have grown over the last several years, but where do they go to next when returning to market?

🚗⚡ New figures from Society of Motor Manufacturers and Traders (SMMT) show that September was a record month for electric vehicle (EV) sales. 🔋 56,387 battery electric vehicles (BEVs) were registered in September representing 20.5% of all new cars registered in the month. 📈 Year to date figures show that 17.8% of all new cars sold in 2024 have been BEVs and SMMT forecasts suggest over 364,000 EVs will have been registered in 2024 by the end of the year. Over the past four years, BEV numbers have grown by 507.5%, demonstrating a positive trend towards EV adoption.🚀 Read the full story from SMMT here ➡️ https://lnkd.in/esFEDZAK #ZestEV #EVCharging #EVChargingInfrastructure #SMMT

During quarter 3 of 2024, the United States experienced another increase in electric vehicle (EV) and hybrid vehicle sales. According to Wards Intelligence, combined sales of battery EVs (BEV), plug-in hybrid EVs and hybrid vehicles increased from 19.1% to 19.6% between quarter 2 and 3 of this year. Telsa continues to be the top seller in the BEV market. Following Telsa, Ford is the second leading seller and Chevrolet is the third most popular seller for BEVs. Under the EV and hybrid sales analysis conducted by Wards Intelligence, within quarter 3, 78.9% of the sold BEVs sold were manufactured within North America. Additionally, Wards Intelligence identified that of the remaining sold BEVs, 7.3% were constructed in South Korea and 5.3% were developed in Germany. #ElectricVehicles #EV #HybirdVehicles #Telsa #Ford #Chevrolet #EVSales #EVInfrastructure #EndeavorBusinessIntelligence #MAPSearch #ENvision

Understanding the growing EV market is a hot topic for the insurance and repair industry. These new quarterly insights from Activate Group shine a light on EV repair trends, comparing average repair costs and repair cycle times!

Sales of hybrid and battery electric vehicles (#BEVs) in the United States have grown exponentially over the last few years; however, a larger question faces the industry: where do these buyers go next when returning to market? Through S&P Global Mobility's automotive loyalty data, which analyzes new vehicle registrations and return-to-market activity, we can track exactly how these buyers behave when choosing their next vehicle. Here's the breakdown on gas, hybrid, and BEV owner behavior: https://okt.to/ErpRDZ #electricvehicles #automotiveindustry