Counterpoint Research’s Post

Just published: BEV Sales to Hit 10 Million in 2024; Hybrids Growth to Beat BEVs, ICE to Decline Key takeaways: - BEV milestone: BEV sales will hit the 10-million milestone in 2024 on the resumption of long-term decline for ICE vehicles, whose market share is projected to drop below 50% in four years. - Regional Insights and Market Dynamics: #China will dominate BEV sales with over 50% global share until 2027. Its share will decline gradually but will still surpass the combined sales of #NorthAmerica and #Europe in 2030. Major growth in Europe and the US will start in 2025. - BYD vs Tesla: BYD’s BEV sales will surge and overtake Tesla’s in 2024. - Hybrid vehicle dominance: Hybrid vehicles (PHEVs and HEVs) will dominate the electric segment in the near term. Link to the full note is in the comments below. #electricvehicles #automotive #industry #research #markets #sustainability #Tesla #BYD #EV

▶ BYD Qin Plus climbs global #EV ranking in March - Global EV deliveries continued to grow in March. Battery-electric vehicle (BEV) registrations were up by 7% compared with March 2023. - Meanwhile, plug-in hybrids (PHEVs) figures jumped 50%, making March the powertrain’s second-best month ever. - Therefore, plug-in models made up 19% of the wider global new-car market, with BEVs taking a 13% share alone. - In the first quarter of 2024, the EV market share climbed to 16%, with BEVs making up 10%. - All-electric models made up 65% of total plug-in registrations in March. This brought the BEV share in the first quarter to 63%. José Pontes, data director at EV-volumes.com (part of J.D. Power), examines the results with Autovista24 editor Tom Geggus. Read the full analysis https://lnkd.in/e4p_rm_f #EVs #ElectricVehicles #China #Asia #mobility #Automotive

🌟 Exciting Trends in the BEV Market! 🚗💨 In 2023, the top 10 Battery Electric Vehicles (BEVs) commanded a whopping 65% share of the market, signaling a major shift towards electrification! 📈 Leading the pack, Tesla claimed approximately 20% of the market share, closely followed by BYD with 17% and GAC Aion with 5.2%. 🥇🥈🥉 Impressively, the top four Chinese BEVs alone accounted for around 30% of the total market share. 🇨🇳 Looking ahead, BYD is poised to surpass Tesla's sales in 2024, further solidifying the dominance of Chinese BEVs in the global market. 🌏 Meanwhile, Germany's top 3 BEVs collectively held a 10.8% share, showcasing their significant presence in the industry, followed by South Korea's 2 BEVs with approximately 5%. 🇩🇪🇰🇷 Exciting times lie ahead as the electric vehicle revolution continues to reshape the automotive landscape! ⚡ Let's drive towards a greener, more sustainable future together! 🌱 #BEV #ElectricVehicles #FutureMobility #Sustainability #Tesla #BYD #GAC #Germany #SouthKorea 🌟

The realistic BEV market in 2023

The entire #German new-#car market returned to growth in October, with a 4.9% year-on-year increase in registrations. The #BEV market also bounced back after September’s drop, up 4% on October 2022. In total, 37,334 BEVs were registered in October, accounting for 17% of the overall #market. Meanwhile, plug-in hybrids (#PHEV s) recorded 16,361 registrations, making up 7.5% of the total market, just under half of last year’s share. BEVs represented 70% of all plug-in sales in October, five percentage points below the year’s average. In total, electric #vehicles (EVs), made up of BEVs and PHEVs, took a 24.5% share of the new-car market in October, keeping the year-to-date figure at 24%. With November and December likely to be stronger months, plug-in vehicles can be expected to end the year above the 25% share mark. #automotive #automotiveindustry #electric

⚡Tesla starts strong with top two spots in Europe’s #EV market - Despite several European markets dropping or amending their incentive programmes, battery-electric vehicles (BEVS) started 2024 strong. - Registrations of these all-electric cars were up 29% year on year. Plug-in hybrids (PHEVs) also continued to grow, ending the month up 23% compared to January 2023. - Combining registrations of the two powertrains means the EV market sat at 198,993 deliveries in the month. Capturing 61% of Europe’s new plug-in market, BEVs started the year well ahead of PHEVs with 39%. - Looking at the overall market, BEV registrations made up 11.9% of all new-car deliveries in Europe, while PHEVs accounted for 7.7%. Outside of the EV market, full hybrids (HEVs) and mild hybrids (MHEVs) took a combined market share of 29.3%, up from nearly 27% last year. - This meant that 49% of all new cars registered in Europe at the start of the year featured some form of electrification. - Meanwhile, petrol was down to a 35.8% share from nearly 39% in January 2023, while diesel fell from 16% to 11.9% compared to 12 months ago. Should this rate of declining demand continue, diesel deliveries could end around 2027. - In January’s EV top 20, four out of five of the best-sellers were crossovers, highlighting the popularity of the vehicle type. Leading this charge was the Tesla Model Y with 11,425 registrations. Read the full analysis from José Pontes, data director at EV-volumes.com here https://lnkd.in/euiqRpM9 #Tesla #electricvehicles #Europe #automotiveindustry #EVs

⚡ Tesla and BYD do battle in July’s global EV market - Global registrations of EVs, consisting of battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs), rose 22% in July. - The strong performance of the #EV market meant that over 1.3 million new vehicles took to roads around the world. - The sector was driven by PHEVs, registrations of which grew 58% year-on-year, reaching over 540,000 deliveries. This was the technology’s second record month in a row, and its highest growth rate since January. - BEVs, meanwhile, were up by just 5% compared to July 2023. - The figures show that the rise of PHEVs in China skews the overall market. The powertrain had a strong month in the country, up 87% year on year. The country was responsible for roughly three-quarters of PHEV registrations in the global market during July. - EVs represented 20% of the overall global new-car market in the month, with BEVs taking a 12% share alone. All-electric models represented 59% of plug-in deliveries. - Across the first seven months of 2024, EVs held an 18% share, with BEVs again taking 12% of the overall market. In the EV sector, they held a year-to-date share of 63%, down from 70% recorded 12 months ago. Read the full analysis https://lnkd.in/g-mpH2-f #Tesla #BYD #China #EVsales #carsales #markets #insights

BEV trend is starting to change the automotive industry.

⚡ BYD dominates China’s #EV market as price cuts take effect - EVs, made up of battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs), recorded strong growth in China during March. - The market ended the month with registrations up 29% compared to the same month in 2023, with 743,289 deliveries. - PHEVs jumped 62% year on year, while BEV figures increased by 16%. This performance helped EVs take a record 43% share of the overall passenger-car market, which totalled 1.7 million registrations in March. Of this, BEVs accounted for 28% of deliveries. However, in the plug-in market, the strong PHEV result disturbed the balance slightly. BEVs made up 64% of EV registrations in March, below the average 67% recorded so far this year. - In the first three months of 2024, EV registrations grew 36% in China, with a tally of 1.9 million deliveries. This equates to a 39% share of the market, with BEVs holding 26%. With this performance, the plug-in market can be expected to end the first half of 2024 with a market share above 40%. Read the full analysis here https://lnkd.in/enT2dw4r #China #newcars #electricvehicles #asia #automotiveindustry

BYD fills top spots behind Tesla in global #EV market in October - Electric vehicles (EVs) made up 17% of global new-car sales in October, as #BYD filled the top spots behind #Tesla in the model ranking. - Global EV registrations, made up of battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs), continued to rise in October. - A total of 1,279,831 new plug-in vehicles took to roads around the world. - This meant EVs made up 17% of the global new-car market in the month, with BEVs alone taking a 12% share. However, the total electric-vehicle figure narrowly missed September’s record result. - As the internal-combustion engine (ICE) market continues its recovery to pre-COVID-19 levels, the EV share is experiencing ongoing pressure. - BEV registrations increased 33% year on year, accounting for 68% of October’s global EV market. This put the year-to-date rise at 70%. PHEV registrations jumped 46% compared with October 2022. Read the full analysis from José Pontes, data director at EV-volumes.com https://lnkd.in/g-ceqxWD #ElectricVehicles #NewCars #AutomotiveIndustry #Analysis