"you know the environmentalist agenda is dead in the water."
Not yet...
Global Plug-In Electric Car Sales Increased 55% In May 2022
Global passenger plug-in electric car sales noticeably increased in May, which is a positive sign, considering challenging economy and supply issues.
According to EV-Volumes data, shared by Jose Pontes, some 699,708 new passenger plug-in electric cars were registered in May, which is 55% more than a year ago. Market share amounted to about 12%, including 8.6% for all-electric cars.
An interesting thing is that all-electric car sales are not only over two times higher than plug-in hybrids but also increase faster, while non-rechargeable hybrids are down for the second month in a row.
I posted this article because it raises some interesting points.
With increased visibility of EVs and public charging points, are people getting over the idea of range anxiety? (Where you gonna charge it if you’re running low?)
All of the top ten for May (globally) are made in China. Two are Teslas but, a significant amount of them are made at the Shanghai Gigafactory. One is a Volkwagen that benefits from two manufacturing joint ventures in China.
Of the top twenty year to date, only two are not manufactured in China and they are Korean. The top two are Teslas, the third is the $5,000 Wuling Hong Guang MINI EV (I have mentioned this in previou posts), the next five are made by BYD (a company that Warren Buffet has interests in), the ninth I have never heard of and the tenth is the Volkswagen ID.4. At number 19 is the Ford Mustang Mach-E which benefits from a joint manufacturing venture with a Chinese firm.
The fact is that the largest car market in the world is experiencing very strong growth in EV sales.
China Electric Car Market — 31% Market Share In May!
Share-wise, with May showing another great performance, plugin vehicles hit 31% market share! Full electrics (BEVs) alone accounted for 23% of the country’s auto sales! This pulled the 2022 share to 25% (20% BEV).
If electrification continues at this pace, this market will be BEV-based by 2025! Imagine that: the largest automotive market in the world being BEV-based in three years time!
Another measure of the importance of this market is the fact that China alone represented over half of global plugin registrations last month.
If I remember correctly, I made the point in the quote from the article below in a disscusion a long time ago (either here or on The Oil Drum).
What differentiates China’s EV market from the others?
Many Chinese customers can easily adapt to EVs because they have no prior car ownership experience and therefore there is no ‘switching cost’ involved. In contrast, the consumers in the western countries have years of experience driving internal combustion engine cars which makes them slow to change their behavior.
This last link is for those that are curious about the safety of these tiny EVs. Wonder no more!
Watch Wuling Hong Guang MINI EV Crash Test With Other EV
The picture below is the car featured in the crash test above, the third best selling EV in the world for 2022 so far, based entirely on sales in China alone.
 |
