End of the Road for EVs as Sales Slump Around the World
The electric revolution appears to be running out of road as global EV sales slump in recent months for three top manufacturers amidst public resistance to the new technology. The Mail has more.
Despite growing steam long-term, Elon Musk’s Tesla saw quarterly EV sales fall from a peak of 484,500 in Q4 2023 to just 386,800 in the first quarter of 2024.
Meanwhile, Chinese car manufacturer BYD – the world’s largest seller of electric vehicles – saw global EV sales crash earlier this year.
In the first quarter of this year, it sold just over 300,000 EVs – dramatically down from 526,000 in the final quarter of last year.
Similarly, German carmaker Volkswagen sold 239,500 EVs in Q4 2023, but only 136,400 the following quarter, although sales recovered to 180,800 in Q2 this year.
It comes as Volkswagen has been forced to close three of its factories and slash jobs, partly due to a slower-than-expected transition to electric vehicles.
Worth reading in full.
To join in with the discussion please make a donation to The Daily Sceptic.
Profanity and abuse will be removed and may lead to a permanent ban.
Hallelujah! There is a God.
And he’s a petrol-head.
I’m amazed the figures are as high as they are – who’s buying these things? I thought the contract hire companies had caught on 100%, and most other people who wanted one, have one… so are these real sales, or pre-registrations as a last ditch attempt?
Yes to the latter point – Barrie something on YouTube, obviously a man with a bit of motor trade history, goes into this in some depth. Lots of “second hand” EVs out there with as little as 19 miles on the odometer. Pre-registered to boost sales figures, as that’s what is counted…
For balance, I don’t hate EVs, they have a place in urban areas, but that’s about it. Diesel is still king of transportation and will be for the foreseebale.
You don’t get the same range anxiety in urban areas but you do get the fire hazard. Have a look at this: Prof. PAUL CHRISTENSEN Electric Vehicle Battery Fires SUBSCRIBE NOW – YouTube
Geoffbuyscars has some good vids on the same as well
It’s not clear whether they are sales (or shipments) to dealers, or sales to consumers.
In the US I’ve seen reports of dealers’ lots overflowing with BEVs.
There are photos of tens of thousands being stored in fields in China, and sitting in large areas at ports in Europe and China.
That’s my point really – at some point those *fake* ‘sales’ have to catch up with reality – all they are doing is delaying the inevitable. We used to see this in aug registrations in the UK, now twice a year, however these ICE vehicles *would* be actually sold… many of these EV’s may never be
”The report of my death was an exaggeration.’”
I suspect it will not be as simple as that, the net-zero, eco-freak powers that be have nailed their colours to the mast and part of their mantra is that EVs are the future. As far as the UK is concerned a crucial part of the car sales market is that a large proportion of the new cars sold are actually corporate lease cars which then subsequently feed 3-4 year old cars into the used car market. It is this move from the lease car system to the private ownership system where there has been a breakdown as far as EVs are concerned. Depreciation on used EVs is enormous and quite unsustainable, whatever the ownership model.
The lease companies are trying to extend lease deals to 4 or 5 years to cut their losses and new leases are leaping in price,causing alarm for all the corporate fleet managers.
The question is will TPTB allow the market to sort this out or will we find that Government steps in and gives huge financial incentives to the EV sector and puts ever more difficulties in the way of continuing the use of petrol/diesel cars?
I suspect the government will give away some more of our money to prop it all up for a few more years… long enough to destroy the European car industries
18 hours to wait for an answer to that. In the meantime, Brent crude is about $70 a barrel, drifting now at the moment.
Live by government, die by government. It was never an organic development.
Marvellous, ban the bloody things.
Environmental, economic and fire disasters on wheels. Not fit or safe for purpose.
Couldn’t agree more👍
No need to ban them though, just let them compete fairly in the consumer market, if they’re good, they’ll sell!
The ipitome of flogging a dead horse 🐎!
And Ford in the US has announced a Q3 loss of $1.224 billion in its EV division.
i still don’t understand why shareholders in these companies have not filed suits for breach of fiduciary duty against management and directors.
Legacy automakers have not kept up.
they are about to go out of business.
China is going to do what Japan did to the British Motorcycle industry but with cars.
I think you will find this data is well out of date.
sales have gone up world wide.
Tesla is looking at sales of 2million cars worldwide this year. BYD with larger sales. China has 1 in 3 new car sales and is close to 50% EV/ Plug in Hybrid.
so no sales have not slowed they have moved steadily upwards.