Headline Roundup • December 10th, 2024
Are EV Sales Rising or Falling?
Summary from the AllSides News Team
When battery-powered electric vehicles (BEVs) are grouped with hybrids, sales globally and in the U.S. have risen. Looking only at BEVs, sales have dropped in Europe and Australia, and growth has slowed in the U.S.
The Data: Electric and hybrid sales in the U.S. broke records in Q3, reaching 21% of all vehicle sales. BEVs made up 8.9% of all sales, while hybrids made up 10.6% and plug-in hybrids just under 2%.
Positive Signs for EVs: In November, Ford set a monthly EV sales record, with all-electric vehicles representing 6.5% of its sales, a 14% year-over-year increase when including hybrids and plug-in hybrids. Though Tesla and Mercedes-Benz EV sales have dipped, Ford, General Motors, Kia, and others have become more competitive in the EV market. Currently, Tesla makes up nearly half of all EV sales. "Global sales of fully electric and plug-in hybrid vehicles rose 35% in October from the same month last year, led by a 54% jump in sales in China, market research firm Rho Motion said," according to Reuters (Center bias).
Negative Signs for EVs: a ZeroHedge (Lean Right) piece points out that although EVs have been adopted smoothly in China's state-driven economy, the industry is struggling with bankruptcy and plant closures in Europe. In Australia, BEV sales fell 25% last quarter. In the U.S., adoption has lagged behind expectations and EV output is expected to drop 50% in 2025. "Automakers have scaled back their investments in electric vehicles and battery plants as sales remain slower than expected," The Hill (Center bias) said.
Featured Coverage of this Story
ZeroHedge
Now that the shine and allure of being the 'new fad' and government subsidies are starting to wear off - along with a marketplace full of super-saturated competition and robust supply - EVs simply aren't selling.
That was the topic of a new FT report that claims the auto industry’s shift toward EVs, once seen as essential, is now facing serious challenges.
It cites for example that Northvolt, Europe’s top battery producer, filed for bankruptcy last week, casting doubt on the region’s industrial strategy. Additionally, Stellantis announced the closure of its UK van plant,...
REUTERS/Yves Herman/File Photo
Global sales of fully electric and plug-in hybrid vehicles rose 35% in October from the same month last year, led by a 54% jump in sales in China, market research firm Rho Motion said on Wednesday.
European sales rose just 0.8%, but were up in annual terms for the second straight month and the research firm expects a good end to the year in the region, data manager Charles Lester told Reuters.
WHY IT'S IMPORTANT
The European auto sector is facing challenges including high production costs, managing the shift to...
In the race to be second to Tesla in the U.S. electric vehicle market, Ford Motor leaped to an early lead four years ago over its crosstown rival, General Motors, with the Mustang Mach E, an electric sport utility vehicle with a design and a name that nodded to its classic sports car.
But the contest looks much different today.
Sales of G.M.’s battery-powered models are starting to surge as the company begins to reap its big investments in standardized batteries and new factories. Ford’s three electric models, including the F-150 Lightning pickup...
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