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Posts Tagged ‘electric vehicle sales’

Plug-Based Car Sales Set for Rapid Growth, Says New Study

Expansion coming despite low gas prices.

by on Jun.30, 2016

The 2016 Chevy Volt improved its battery-only range from 38 miles to 53 miles. Plug-based car sales are expected to jump this year.

It’s been tough times for makers of battery-based vehicles. With cheap gas, demand for hybrids, plug-in hybrids and pure battery-electric vehicles took a sharp tumble in 2015, the first significant decline since the beginning of the decade.

But with new, longer-range and more affordable products set to come to market, demand is looking to rebound, even if gas prices don’t climb, according to a new study by Navigant Research. Sales of plug-based models should grow 62% year-over-year, to about 200,000 sales in 2016, said the Navigant study.

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A key to that is the arrival of products like the Chevrolet Bolt, said Scott Shepard, a senior research analyst. “The long-range BEV (or battery-electric vehicle) is a marked achievement in the industry.” (more…)

BYD Looks to Triple EV Sales in 2016

China's push for EVs aids maker's quest.

by on Mar.30, 2016

China's BYD is looking to triple it sales to 150,000 units in 2016 compared with last year's results.

BYD Auto, the Chinese electric car company, which counts Warren Buffett among its investors, expects to triple its sales of EV this year with the help of incentives offered by the Chinese government, according to a statement from the company.

The Chinese automaker is already one of the largest builders of electric vehicles in the world and last year built more electric vehicles than rivals Tesla, Ford and General Motors. Only Nissan with its Leaf sold more electric-powered vehicles. In all, BYD delivered 58,000 vehicles in 2015, and expects to sell up to 150,000 vehicles this year.

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Global demand for battery-electric vehicles is expected to achieve a compound annual growth rate of 59.42%, according to a report available from Research and Markets of Dublin, Ireland. But this impressive growth could be even higher if BYD’s sales predictions are correct, the Irish firm suggested. (more…)

Plug-In Electric Vehicles Hitting Roads in Higher Numbers

Despite low gas prices, EV numbers continue rising.

by on Dec.31, 2015

The new Chevy Volt is one of several new EVs that are helping to reduce emissions from vehicles.

Even though the price of gasoline has dropped precipitously, slowing the move towards more efficient vehicles, as of October, there were about 375,000 plug-in electric vehicles (EVs) on America’s roads, according to data collected by the Natural Resources Defense Council.

At the same time, the number of different EV models available has grown from two in 2010 to over 29 today. That is encouraging, and we’ll need to continue to expand electric vehicle availability and adoption to meet our long-range climate targets, NRDC latest report on electric vehicle adoption noted.

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The NRDC has long favored using electric and earlier this year sponsored joint research with the Electric Power Research Institute that suggested fueling transportation through electricity instead of oil could be a huge lever for reducing carbon pollution. (more…)

Electric Vehicle Sales Hit 1 Mil Mark: Globally

U.S. biggest market for EVs with China, Japan in top three.

by on Sep.21, 2015

The Nissan Leaf is the world's best-selling electric vehicle with more than 200,000 units sold.

In 2011, President Barack Obama predicted there would be 1 million EVs sold in the U.S. by 2015. He would have been correct if only he had expanded the scope a bit … to the world.

More than just a call to action as part of that year’s State of the Union speech, the administration implemented several federal policies aimed at trying to make that happen, including a $7,500 tax credit toward the purchase of an EV.

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In total, the government will spend $7.9 billion through 2019 trying to bolster the appeal of and raise the purchase numbers of battery electrics, plug-in hybrids, etc. Critics have been quick to call the effort a failure, and if one only takes a cursory look at the numbers, they would be correct. (more…)

Growth of Global Car Market Slowing Down

“Cyclicality has not been repealed.”

by on Jun.23, 2015

U.S. car sales could be reaching their cyclical peak in the next year or two, according to study.

Led by the U.S. and China, global auto sales have been on a tear in recent years, reaching all-time record numbers despite the poor performance in markets like Europe and Latin America. But a new study warns that demand is going to soften – and soon.

Worldwide, sales will continue to increase, according to the annual automotive outlook produced by Detroit-based turnaround specialist AlixPartners. But the rate of growth will slip to an annual 2.6% for the next seven years, down from 3.1% between 2007 and 2014.

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The U.S. and China will likely see the sharpest slowdowns, the study warns, emphasizing that “cyclicality has not been permanently repealed.”


Pricing Wars: Plug-in Hybrid, EV Prices Dropping

Makers cutting lease payments on vehicles.

by on Mar.26, 2015

BMW recently cut the lease price on its electric i3 model to $239 a month. The maker isn't alone in reducing prices.

Gas prices aren’t the only prices dropping these days. Automakers are cutting prices on their electric vehicles.

Despite strong sales early on, BMW recently announced buyers can lease an i3 for as low as $239 a month. However, just after that, Honda put out a new $199 lease for its Fit EV subcompact. The new lease price is a $60 a month cut from its previous offer of $259 a month.


It’s not just the leases prices. Heading into this year, Ford announced it was cutting the price of its Focus battery electric vehicle as well: by $6,000. The new starting price is $29,995 before any federal, state or local incentives are applied, which can cut the final price as much as $7,500. It was the second time the automaker cut the price on the Focus. It cut it $4,000 in 2013 hoping to drive sales then. (more…)

Collapse of Oil Prices Rocks Auto Industry

Volatility causes some markets to shrink.

by on Mar.20, 2015

Audi's new plant in Mexico may be the last of its kind for some time, according to IHS Analyst Henner Lehne.

Unforeseen events such as the sudden collapse of oil prices and the conflict in the Ukraine have combined to re-shape the outlook for the automobile industry, according to Henner Lehne, senior director of global light vehicle forecasting, IHS.

The oil price collapse, which has garnered renewed attention this week as the price of crude oil dropped again, has begun to create clear winners and losers. The list of winners includes the United States, China, Japan and other oil importing nations, while the losers have been net exporters, such as Russia, Venezuela, Norway and sub-Saharan Africa.

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Within the European Union, the falling price of oil has been more or less neutral because the decline in oil prices has been offset by the decline in the value of the euro and higher taxes used to replenish losses by governments in euro-zone. The recent shifts also mean that that the carmakers now have to depend on mature markets in North American and Western Europe. (more…)

Nearly Half of All EVs Sold in California

Ten states generate 25% of EV volume

by on Dec.11, 2014

Despite the fact that Nissan Leaf buyers don't have to pay for gas as owners of an electric vehicle, EV sales are still less than 1% of new car sales.

Nearly half of all the battery-electric vehicles sold in the United States are going to customers in California, according to a new report by the U.S. Energy Information Administration, or EIA.

The report also noted that sales of plug-based vehicles, including plug-ins and pure battery-electric models, still constitute a tiny fraction of the total American vehicle fleet, with demand growing at a marginal pace despite a flood of new models.

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Along with California, motorists in Hawaii and Washington have been quickest to plug into the electric vehicle market, with at least three of every 1,000 registered vehicles in those states. In only three states – Virginia, Georgia and Oregon – have EVs reached more than two in 1,000. (more…)

Ford Latest to Cut EV Pricing as Battery-Car Market Struggles

Maker trims $6,000 from price tag of Focus Electric.

by on Oct.21, 2014

Ford has so far sold only 1,500 Focus Electric vehicles this year - less than 1% of total Focus sales.

With battery-car sales lagging expectations, automakers have been slashing prices in a bid to spur demand. The latest to announce a big discount is Ford Motor Co., which will trim the MSRP on its Focus Electric model by $6,000.

That’s on top of the $4,000 discount the Detroit maker took on the compact battery-electric vehicle a year ago. Originally introduced in January 2011 at $39,995, buyers now can plug in a Ford Focus Electric for just $29,995 – plus delivery charges and the usual fees and taxes.

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Ford is by no means alone. With rare exception, automakers have been cutting prices of both plug-in and pure battery-electric vehicle, or BEV, models in a bid to boost sluggish sales. And with gas prices now near or below $3 a gallon in much of the U.S., industry analysts suggest it will be even more difficult to convince buyers to opt for vehicles that plug in rather than tank up.


Electric Vehicles Save $100 Million in Gas Costs

Sales of EVs doubled in 2013 to nearly 100,000 units.

by on Mar.27, 2014

American EV owners saved themselves $100 million last year by not buying gas.

More than 160,000 Americans saved themselves $100 million in 2013 by not doing one thing that millions of others had to do: buy gasoline.

According to Union of Concerned Scientists, those drivers saved 45 millions of gasoline last year. Not surprisingly, Californians led the way accounting for nearly half of the savings – $40 million – and reducing emissions of carbon dioxide by 140 thousand tons per year.

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The number of plug-in electrics doubled in the U.S. last year to 99,827 vehicles compared with 2012. Again, California led the charge. In fact, 2.5% of the cars sold there in 2013 were plug-ins.