Electric car sales worldwide grow and media has melt down (or just lies)

Proudly own a Dolphin here in Australia. Last month I rented a new Mercedes petrol car in the UK and was gob-smaked at how backwards the features were compared to the Dolphin. At best, they were on par with my 2018 petrol Hyundai Kona. Proof to me that legacy car brands are holding back big time. They are treating us consumers as idiots! probably been doing so for decades.

Even our senators are saying this stuff. The Secretary of Transportation had to correct them in a hearing.

This is the latest in the U.K SMMT, BEV 19% in June and the return of Tesla, with Model Y and Model 3 back in the top 10 sales. Their summary “Electrified vehicle uptake continued to grow robustly in June, with plug-in hybrid (PHEV) volumes up 30.0% to reach a 9.3% market share, while hybrid electric vehicles (HEV) rose 27.2% to achieve 14.9% of the market. Both powertrains also outpaced battery electric vehicle growth (BEV), which rose 7.4% but took its highest monthly share this year, accounting for 19.0% of all new vehicle registrations. The UK’s zero emission transition – and the ability of manufacturers to meet the requirements of the Vehicle Emissions Trading Scheme – currently relies on the fleet sector as private consumer uptake continues to soften. Private BEV uptake has fallen -10.8% year to date, with fewer than one in five new BEVs going to private buyers. Overall, BEVs now comprise 16.6% of the new car market so far this year, slightly above the 16.1% achieved in the same period last year, with uptake behind the levels mandated by government.”

Michigan sold about 43 billion dollars worth of cars last year. Petroleum sold in the US was 654 billion last year. Electric cars will turn off both of those spigots, and I guess that the industries behind them are not too keen on that. Obviously the really big money is the oil companies. If you put a few thousand dollars of solar cells on your garage roof, you won't have to pay for gas for 20 years. I guess that most petroleum companies blanche at that one.

This Guy is soooo full of Beans

The media hates Trump. It also seems they hate EV's. All I know is that in my neck of the woods, which is Long Island, there isn't a day when I'm out and about that I don't see AT LEAST 5 to 10 Teslas. Used to be that you didn't see any. Not anymore. Now, I'm seeing Mach E's, Cadillac Lyriqs and at least a few Hyundais/Kia EV's. And, believe it or not, I finally saw a Cybertruck last week! So, you're right. The media is screaming and yelling about how bad EV sales are. Just like everything else they report..it's always got at least some lying. EV's are no exception.

I think a lot of the negative reporting would not happen if the companies were not publicly traded. A lot of it is just to get the stock to go down either to short it, buy it, or move money to some other stock.

Ignorance stems from lack of understanding how disruption works. History teaches disruption speeds up, not a slow crawl. S-curve adoption. Look at cars replacing horse-drawn carriages or digital cameras disrupting film. EVs are on a similar path.

You've gotta laugh. No dealerships to advertise in their papers, no fuel companies to advertise on TV - so they go to town. EVs are an advertising business risk for the papers. The media, once again, show a complete lack thinking on how to pivot their business model.

Besides EV and Plug in hybrids, We need a 3rd category for plug in hybrids that have large enough batteries to be used as EV for most trips.

I am glad someone is buying them

Thanks!

thx Sam. Yes, this chart shows us were this is going! Look at BYD 😃😃

A few days ago I saw my first Zeekr 001 in the wild in the Netherlands!!.. I did not know these were sold in The Netherlands... Also the number of NIO's is increasing slowly. But it is mindblowing how many new Model 3's and Model y's are on the road here.. At any time you drive here you can see a Tesla!. But good to see it is not only Tesla, but other brands as well, many Hyundais ID3/4 E-tron's, MG's, etc.

Sam, you really need to compare the total market %. Basically how much of the pie. ICE cars are also growing...

This is a long term transition. I don’t believe all the hype of all cars will be EV’s in a few years, same as s I don’t believe EV sales are in decline. This is going to take 20 years and everyone is jumping on one bandwagon or another loving/hating them.

The ACEA collate monthly and YTD figures for Europe, well the EU27, EFTA (Iceland, Norway & Switzerland) plus the UK. June's numbers won't be out for a couple of weeks, but in May, sales of BEVs were down 10.8% and YTD +2.1%. PHEVs in May down 9.6%, YTD +5.3%. The BEV numbers haven't been helped by Tesla having two shit quarters (24Q1 down 8.9% and 24Q2 down15.8%.)

Toyota is using chips from the 90s mainly from Indonesia that can't process much. Most tariffs always end up back firing.

Yes....We need a new transparent society........Sam

When the legacy car companies start making a profit on EV's (Jim Farley says they will make a profitable $30k EV in 2 1/2 years) then the transition will accelerate rapidly. Will take about 5 more years until EV's will become main stream. If EV technology evolves so an EV can add 200 miles in 10 minutes at DC fast charger then start nailing the ICE coffin closed.