Slow EV Growth In Europe Ending
Slow electric vehicle growth in Europe is ending. The market, extremely stable until 2018, will be exploding in 2019.
Slow electric vehicle growth in Europe is ending. The market, extremely stable until 2018, will be exploding in 2019.
The most popular CleanTechnica articles of January were led by a CleanTechnica analysis showing (before Kelley Blue Book came out with its rankings) that the Tesla Model 3 was performing exceptionally well on the used car market. A comparison between the Tesla Model 3 and Honda Accord slotted into the #2 spot, and a perspective-focused piece on Tesla’s December sales and inventory landed in #3.
The European passenger plug-in electric vehicle (PEV) market ended the year on a positive note, registering a near record 40,500 units in December (+23% YoY), with the 2018 count ending at a record 386,000 deliveries, a 33% increase over 2017. The 2018 PEV market share ended at a record 2.5%, thanks to an impressive 3.9% performance in December.
After a 3 month streak of record-breaking sales, plug-in electric vehicles (PEVs) in December just kept on pushing forward. China registered over 180,000 PEVs in December, making it the 4th record month in a row and achieving 70% year-over-year (YoY) growth. That meant that 2018 sales ended north of the 1 million units mark. Yes, over 1 million PEVs in one year. And to think that 2017 was the first year that plug-ins reached 1 million sales globally. Whoa.
The 20 most popular CleanTechnica articles of the past week covered Tesla 12 times, EVs in general 3 times, non-Tesla EVs twice, solar power prices twice, and eggshells once. But this sort of masks something.
Could 2018 go down in history as the beginning of the end for fossil-powered vehicles? Several auto industry analysts quoted in a recent Financial Times article (via The Drive) think it’s a possibility. “We will probably see the peak of combustion engine car sales in 2018,” Felipe Munoz, an automotive analyst for Jato Dynamics, told FT, adding that his company’s ‘optimistic’ forecast for the global auto market had changed in the last six months.”
It was really different to listen to the recent Tesla earnings call from the perspective of an investor.
With back-to-back profitable quarters under its belt, Tesla is kicking off 2019 with an emphasis on financial discipline. As Engadget reports, “Tesla’s 2018 fourth-quarter results showed the company still made a profit ($139.5 million), but it was smaller than that of the third quarter ($311.5 million). For the quarter, the company posted $7.23 billion in revenue. Last year’s revenue was $3.29 billion. Overall for 2018 it reported $21.4 billion in revenue.”
Tesla CEO Elon Musk highlighted on the Tesla shareholder call tonight that Tesla is the first non-Chinese automaker that has been permitted to build a wholly owned factory of its own in China. No doubt about it, Tesla knows the opportunity in China is enormous and is grateful for that. The following repost from EVANNEX puts that into more context.
Tesla has published its 4th quarter 2018 shareholder letter.
We will pick apart the details and add our own commentary and extra context soon. In the meantime, click here to read the full thing and here are the summary points: