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Category: EV Market (Page 1 of 6)

Bentley’s CEO Adrian Hallmark believes coronavirus pandemic will help boost EV sales

Rachel Burgess / Autocar »

Talking at the SMMT summit today, he said: “We have had to ruthlessly prioritise our spend. We’ve had to pull levers to control costs. Whatever we’ve done has been on the combustion engine. We have delayed or deleted certain derivatives.

“All of our plug-in hybrids and electric vehicles are full steam ahead. We and the industry may see this as a natural accelerator to green technologies. If you have to prioritise, where do you place your bets? More horsepower or more cell technology? The obvious answer is the latter.”

Christain Dahlheim, Volkswagen Group head of sales, agreed that the pandemic will hasten the move to EVs. “The perception of cleaner air has raised awareness for sustainability. And many governments in Europe are moving to transform the industry and invest in greener technologies.

“Half of our consumers [in Germany] are willing to drive EVs. The biggest hurdle has been infrastructure. If that can be solved, we think EV share can be accelerated.”

More » Carscoops

Hyundai and Kia are now global leaders in electric vehicle sales, according for one in 10 of all electric cars sold globally

Michael Herh / Business Korea »

Hyundai and Kia recorded a combined 9.9 percent share of the global EV market in the first quarter of this year, exceeding their 8.9 percent share of the internal combustion engine vehicle market. This was the first time that their EV market share surpassed that of the market for internal combustion engine-powered cars.

Global EV sales stood at 290,436 units in the first quarter of 2020, according to global automotive market research firm MarkLines. Hyundai and Kia sold 28,796 units, securing a 9.9 percent share. During the same period, they held a 8.9 percent share of the internal combustion engine vehicle market.

In the first quarter of 2016, Hyundai and Kia together accounted for 2.05 percent of global EV sales. At the time, global EV sales stood at 67,829 units, of which 1,392 were sold by Hyundai and Kia. Over the next four years, the overall EV market grew 4.28 times while Hyundai and Kia increased EV sales 20-fold. The two companies’ sales hit 10,328 units in the second quarter of 2018 and reached 25,612 units in fourth quarter of 2018.

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BoA Merrill Lynch predicts a wave of new-car launches coming in over the next 4 years

Joe Lorio / Autoblog (USA) »

The biggest increase by segment is — you guessed it — crossovers, which account for nearly half the total (49 percent). Light trucks at 28 percent are the next-biggest segment. The three passenger-car segments — luxury/sport, mid/large, and small — each comprise less than 10 percent of the total.

The BoA report also looks at each of the manufacturers and calculates their “replacement rate,” meaning their new-product intros as a percentage of their lineup. They calculate the industry average at 74%. BoA sees Honda (91%) and Hyundai/Kia (90%) with the most aggressive launch cadence over the coming four years, with FCA (57%) and Toyota (59%) at the bottom. Ford at 83% has the highest replacement rate among the Big Three, headlined by the new F-150, the new Bronco and the Mustang Mach E. Automakers with a fresher lineup historically have made gains in market share. BoA has published its study annually since 1991.

GM is risking its US market share in a long-term play to offer an all-electric vehicle lineup

GMC Hummer EV Teaser

GMC Hummer EV Teaser

GM has stated publicly they will offer 20 EVs in the U.S. by 2023. Some Americans view this as aggressive.

It’s generally accepted the U.S. will lag behind the rest of the world with electric vehicle adaption. Simply stated, the current politics in Washington are more in-line with those of large oil companies and this is what they are actively promoting.

Tighter emissions regulations across Europe has persuaded automakers to dedicate more resources into the transition to electric powertrains or face big fines this year. To further encourage EV car sales, the governments of Germany and France have added extra incentives for the purchase of EVs in economic stimulus packages.

Consequently, any mobility company wishing to do the right thing and move towards a more sustainable model while doing business in the U.S., needs to consider these factors in their short-term strategic planing.

Jamie L. LaReau / Detroit Free Press »

“You have the gap period of time where you can ride the wave of your profitable products for a few years, so (shifting to electric powertrains) won’t impact GM for the next two years,” Murphy said. “But that means GM has to kick it off in the time where they are in a period of strength.”

That period is now, Murphy said, noting that GM is in a wealthy position because of high volume sales of profitable pickups and SUVs in the past few years.

“There’s certainly a risk of losing some market share and not necessarily growing quite as fast as the rest of the industry, as we hopefully head into a recovery over the next two to three years,” said Sam Abuelsamid, principal analyst at Guidehouse Insights in Detroit. “GM has put a lot of resources into electric powertrains and vehicles that use those. That means they’ve taken away some of the resources from traditional products.”

Meanwhile » June 11, 2020 » Bloomberg » Goldman Cuts Tesla and Makes GM a Buy on Better Sales Outlook

Overall vehicle sales rebound in China; however EV sales are off significantly

GasGoo (China) »

China auto outputs and sales reached 2.187 million and 2.194 million units in May, jumping 18.2% and 14.5% from a year ago respectively, according to the China Association of Automobile Manufacturers (CAAM).

The NEV sales in May dwindled 23.5% over a year ago to around 82,000 units. Specifically, the volumes of BEVs and PHEVs amounted to 64,000 units (-25.1%) and 18,000 units (-16.1%) respectively. Moreover, FCV (fuel cell electric vehicles) outputs and sales plunged 94.6% and 86.7% to 17 and 42 units.

Automotive News China »

Industry-wide sales advanced 15 percent to nearly 2.2 million in May after increasing 4.4 percent in April, according to information the China Association of Automobile Manufacturers released Thursday.

But demand for new electrified vehicles remains weaker, slipping 24 percent to roughly 82,000 last month, after the Chinese government slashed subsidies for EVs and plug-in hybrids in June 2019. The tally includes some 64,000 EVs and 18,000 plug-in hybrids, declines of 25 percent and 16 percent compared with a year earlier.

Autoblog (USA) »

China’s auto sales surged 14.5% in May, a second straight month of growth as the global industry’s biggest market gradually recovers from the coronavirus pandemic. The China Association of Automobile Manufacturers said Thursday that sales of passenger cars jumped 7% from a year earlier to 1.67 million, an improvement over April’s 2.6% contraction. Passenger vehicle sales tumbled 27.4% from a year earlier to 6.1 million in January-May, the CAAM said.

More » WSJ (USA), AP (USA)

BloombergNEF is forecasting a large drop in EV sales in 2020 due to disruptions to battery metals supply chains from the COVID-19 pandemic

BloombergNEF has lowered its forecast for EV sales in 2020 to 1.7 million vehicles, a 27% drop from its earlier forecast.

Carl A. Williams / Mining.com »

The decrease in EV sales will result in a 10% drop in demand for lithium-ion batteries to 71-gigawatt hours (GWh).

However, it expects long-term demand for EVs to be maintained. The group projects global EV sales to reach 26 million vehicles by 2030, 9% below its 2019 forecast of 28 million vehicles, and total lithium-ion battery demand for all end-users is expected to reach 2,000 GWh by 2030.

The lithium market will remain in balance, it says, with deficits for both lithium hydroxide and lithium carbonate, critical ingredients for lithium-ion batteries. Bloomberg predicts that demand for lithium hydroxide will fall into deficit in 2021.

Iconic classic cars converted to electric are relevant in the 21st century

Stephen Errity / DrivingElectric »

Electric classic cars have grown in popularity over the past number of years as enthusiasts look to keep on enjoying their beloved older vehicles without having to worry about future taxes, zero-emission zones or other government regulations forcing them off the road.

Some manufacturers have commissioned their own conversions of classic models from their past to electric power, often using drivetrain components from their latest brand-new zero-emissions models. Other companies specialise in bespoke conversions of a wide range of older cars, with electric motor and battery configurations to suit the owner’s wants and needs…

1970 Aston Martin DB6 MkII Volante electric review - DrivingElectric

UK government is reportedly considering giving drivers up to £6,000 to switch from diesel and petrol cars to electric


Gordon Rayner and Christopher Hope from the staunch conservative The Telegraph, report the UK government is looking to introduce a “scrappage” program offering drivers discounts of up to £6,000 (approx. €6,760. or US$7,640.) to switch from gasoline and diesel to electric or hybrid cars.

Carlton Reid / Forbes »

The novel coronavirus has killed tens of thousands and tanked many economies but, paradoxically, the pandemic’s global lockdowns also led to cleaner air, less congested streets, and quieter cities. However, at least one of the pandemic’s gains is set to be thrown under the proverbial bus by the U.K. government—although if you’re a passenger in that bus you won’t be a beneficiary because there will be no financial sweeteners for getting people back on public transit.

Yet American business publication, firmly under big oil influence, goes on to say »

Such cars may not pollute at source and they are quiet, but they still take up valuable space on the streets, and with fewer people on public transit—an outcome desired by the U.K. government, fearing a “second wave”—it’s likely that encouraging car use through subsidies will add to urban congestion.

More » DrivingElectric, Motoring Research, electrive, car wow, Carscoops, The Register, TechSpot, Just-Auto (paywall), Electrek

GM CEO Mary Barra believes US will be behind the world transitioning to electric cars

David Welch / Bloomberg (paywall) »

Chief Executive Officer Mary Barra said American drivers will go electric, but it will take a long time for most of the 250 million vehicles on U.S. roads to be battery powered.

“We believe the transition will happen over time,” Barra said on “Leadership Live With David Rubenstein” on Bloomberg Television. When asked if all cars will be electric in 20 years, she said that may be too soon. “It will happen in a little bit longer period, but it will happen.”

The US lacks leadership and commitment to protect the environment and the public’s health. They are leaving themselves vulnerable and risk falling behind, while the rest of the world moves forward.

The world is switching to electric mobility not because it’s the easy thing to do, but because it’s necessary. It’s necessary in the fight against climate change and for public health.

More » The Detroit Bureau (USA)

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