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Global sales of electric cars show reduction

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Global sales of electric cars show reduction
September 03
13:00 2019

After the PRC cut subsidies for electric car purchases, their sales have declined significantly. The market has seen such a gloomy picture for the first time in the history of the electric car segment.

Analysts agree that the sales have declined in China and North America. We are a little encouraged by the fact that the sales have not fallen in Europe. There we can observe a slight increase. However, the overall reduction was 14%.

The largest sales in July were recorded by the American brand Tesla (20 thousand items of Elon Musk’s brainchild were sold). BYD sold 16 thousand, BMW – 9 thousand. Despite such modest indicators, forecasts for the electric car market can be called steadily positive.

During the period from January to July, the market has increased by more than a third. Experts believe that in the second half of the year the growth may reach from 30 to 50%; the number of cars sold will increase to 2.5-3 million.

Despite a significant reduction in subsidies in China, the market has lost not as much as it could. This suggests that interest in cars of this type remains quite high. Global demand for electric cars will lead to the long-term market growth as well as to increased sales.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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