#1 Tesla = 29% of Global Electric Vehicle Market in Q1 2020
The top selling brands in the electric vehicle market are no big surprise, but the details are fascinating to look at.
The top selling brands in the electric vehicle market are no big surprise, but the details are fascinating to look at.
Despite the Covid-related lockdown that sent the overall German auto market down 61% year over year (YoY) in April, the German plugin market grew 33% last month, having registered 10,253 units.
In the first 4 months of 2020, plug-in vehicles accounted for 5.5% of all auto sales in Ireland. The wild world of coronavirus, though, made something special out of April — or perhaps Ireland’s time has simply come. A stunning 18% of auto sales in the month of April were plug-in vehicle sales.
The Swedish auto market, like other auto markets but not as extreme, saw its numbers crash (again) in April. The overall auto market was down 38% year over year. Also like in other markets, plug-in vehicles did better than the overall market. They actually saw a sales increase in April.
While the overall French market ground to a halt due to the coronavirus lockdown (-89% year over year), plugins were down just 66%, with fully electric vehicles (BEVs) faring slightly better, down only -62%. That allowed BEVs to have 74% of the plugin market last month, slightly better than this year’s average of 73%.
The European passenger plug-in vehicle market had 84,000 registrations in March (+41% year over year/YoY), a great performance considering the effect that several lockdowns across the continent have had. Furthermore, this is while the overall auto market was crashing (-52% YoY), inflating last month’s plug-in vehicle share to an amazing 9.9% (6% fully electric vehicles/BEVs). That pulls the 2020 plug-in vehicle (PEV) share to 7.5% (4.3% for BEVs alone), well above the 3.6% result of 2019.
KIA says it is working on an electric SUV with 300 miles of range and a 20 minute charge time for the US market. Enough talking, KIA. Build It!
South Korea’s capital, Seoul, is purchasing 700 electric taxis. This subsidy is worth 18.2 million won (around $15,000) per EV, far more than the 12.7 million ($10,300) subsidy for buying an EV for personal use. Seoul is making foreign manufacturers, not only Korean brands, eligible for funding.
Despite the Covid-related lockdown in the second half of the month, the German plug-in vehicle market score signaled another record performance in March, its third in a row — 19,145 plug-in vehicles (EVs) were registered. With the overall market dropping 38% year over year (YoY), last month’s plug-in share reached a record 8.9% (4.8% fully electric/BEV), pulling the yearly tally to an amazing 7.3% (3.7% BEV).
We report on plug-in vehicle sales in many markets, but we’ve only reported on South Korea’s electric vehicle sales twice over the years. Perhaps it’s time to start giving this major economy more attention. Electric vehicle (EV) market share in South Korea rose to 3.3% in March, and 2.3% in the first quarter as a whole.