SNE Research’s Post

From Jan to July 2024, Non-China Global Electric Vehicle Deliveries Recorded 3.293 Mil Units, a 7.1% YoY Growth - Tesla ranked No. 1 in non-China EV market but posting a degrowth    From Jan to July 2024, the total number of electric vehicles registered in countries around the world except China was approx. 3.293 million units, a 7.1% YoY increase.

From Jan to July 2024, the total number of electric vehicles registered in countries around the world except China was approx. 3.741 million units, a 4.8% YoY increase. If we look at the number of electric vehicles sold in the world except the China market from Jan to Aug 2024, despite posting a degrowth, Tesla stayed top on the list. Tesla recorded an 8.3% YoY degrowth as the sales of Model 3/Y, which take up about 95% of Tesla’s entire sales, have decreased. It saw a 16.2% YoY decrease in Europe only and an 8.4% YoY decrease in North America.

From Jan to Sept 2024, Non-China Global Electric Vehicle Deliveries Recorded About 4.32 Mil Units, a 5.4% YoY Growth - Tesla ranked No. 1 in non-China EV market; EV OEMs posted a degrowth again.   From Jan to Sept 2024, the total number of electric vehicles registered in countries around the world except China was approx. 4.32 million units, a 5.4% YoY increase.

"BYD surpassed its 2024 sales target of 4M EVs with just over 4.27M, up 41.3% vs 2023. The Chinese EV and battery giant is likely to overtake Honda and Ford in 2024 global sales..." https://lnkd.in/gqxb2qZe #china #electricvehicles #EVs #technologynews #chinatech

BYD almost surpasses Tesla’s EV sales in Q3 2024/ BYD’s rapid sales growth against Tesla comes in spite of the significantly more challenging trade environment it must navigate. By Stewart Burnett The post BYD almost surpasses Tesla’s EV sales in Q3 2024 appeared first on Automotive World .

Another wave of EV price cuts from 15 automakers According to the China Automobile Network, fifteen different automakers announced their prices for July on the 23rd, triggering yet another round of price reduction. Approaches feature simple price cuts, replacement subsidies, or limited-time discounts of up to 50% (but more often 10%). In Tesla’s case it’s offering a five-year 0% interest plan. Most big cost falls already occurred back in 2023, across multiple industries and supply chains, but the electric vehicle sector isn’t done yet. In the case of this relatively still very new industry, price declines are not just about the massive and excessive expansion of production capacity, it’s also about ongoing qualitative improvements, which continue thick and fast. #EV #electricvehicles #renewableenergy

European Electric Vehicle demand, including Tesla crashes https://lnkd.in/gcqRQwPm Electric Vehicle demand, especially Battery Electric Vehicle (BEV) demand, stopped growing across the world (except in China and a few much smaller markets) in major markets of EU and US in 2022. Now it is falling. In China, Plug-in Hybrid (PHEV) Demand is still strong, BEV demand is tepid. In other countries demand may be growing but overall numbers are pretty small. EV market has matured prematurely. Range anxiety is a real problem, and initial price of the vehicles too high, exacerbated by poor resale values. PHEV addresses the range issue at least, and the other two issues will be resolved within this decade. Also, two wheelers, which sell mainly in India, China, Easy Asia and Africa have been going electric pretty fast.

From Jan to Oct 2024, Non-China Global Electric Vehicle Deliveries Recorded About 4.84 Mil Units, a 5.6% YoY Growth - Tesla ranked No. 1 in non-China EV market; EV major OEMs posted a degrowth again      From Jan to Oct 2024, the total number of electric vehicles registered in countries around the world except China was approx. 4.835 million units, a 5.6% YoY increase.

[What slowdown?] #EV sales are still booming for most automakers. "For every sign of an EV slowdown, another suggests an adolescent industry on the verge of its next growth spurt. In fact, for most automakers, even the first quarter was a blockbuster. Six of the 10 biggest EV makers in the US saw sales grow at a scorching pace compared to a year ago — up anywhere from 56% at Hyundai-Kia to 86% at Ford" reports Bloomberg. Tesla's gap year leaves an opportunity for other OEMs. This is the case for Hyundai and GM, with their successful strategy: aggressively introduce affordable EV models to achieve economies of scale. Demand for EVs stands high, supported by favorable government policies and technological innovations; many long-term forecasts remain unchanged. More in our latest newsletter → https://lnkd.in/ekv6pGgY #graphite #EVs #batteries #electrification

Are Global EV Sales Really Slowing Down? The verdict: growth rates are slowing, but EV sales are heading for another record year. • BNEF estimates that sales of EVs — including both BEV & PHEV — are headed to 16.7 million units this year, up from 13.9 million in 2023. • Countries like Japan & Germany — home to some of the largest automotive incumbents — have seen not just a slowdown in the growth rate, but an outright decline in EV sales. • Gauging EV demand in Europe is complicated right now because many automakers are holding off launching more affordable EV models until 2025, when vehicle CO2 targets across the bloc toughen again. • Pricing is still an issue in Europe, with some automakers trying to recoup the full development costs of their EV platforms across relatively low sales volumes. • Looking east, China is still the biggest driving force behind the global EV market. It accounts for six out of every 10 plug-in vehicles sold globally so far this year, and the EV share of domestic sales is now over 50%. • EV sales in the US are further behind Europe and China, but still hit a record in the third quarter, with preliminary data showing around 390,000 vehicles sold. Tesla’s sales have slowed this year and dipped below 50% of all EVs sold in the US, but the slack has been more than taken up by increasing numbers from groups like GM and Hyundai. BloombergNEF • Source: https://lnkd.in/dRp3EsHq • Europe ekes out a small gain as global EV sales rise 35% in October: https://lnkd.in/dHrFpxSD #electricvehicle #batterytechnology #sustainablemobility #bev #phevs #sales #growth #zeroemission #china #usa #europe #race2zero