EV sales continue to rise, but the last year of headlines falsely stating otherwise would leave you thinking they haven’t. After about full year of these lies, it would be nice for journalists to stop pushing this false narrative that they could find the truth behind by simply looking up a single number for once.
Here’s what’s actually happening: Over the course of the last year or so, sales of battery electric vehicles, while continuing to grow, have posted lower year-over-year percentage growth rates than they had in previous years.
This alone is not particularly remarkable – it is inevitable that any growing product or category will show slower percentage growth rates as sales rise, particularly one that has been growing at such a fast rate for so long.
In some recent years, we’ve even seen year-over-year doublings in EV market share (though one of those was 2020->2021, which was anomalous). To expect improvement at that level perpetually would be close to impossible – after 3 years of doubling market share from 2023’s 18% number, EVs would account for more than 100% of the global automotive market, which cannot happen.
Instead of the perpetual 50% CAGR that had been optimistically expected, we are seeing growth rates this year of ~10% in advanced economies, and higher in economies with lower EV penetration (+40% in “rest of world” beyond US/EU/China). Notably, this ~10% growth rate is higher than the above Norway example, which nobody would consider a “slump” at 94% market share.
It’s also clear that EV sales growth rates are being held back in the short term by Tesla, which has heretofore been the global leader in EV sales. Tesla actually has seen a year-over-year reduction in sales in recent quarters – likely at least partially due to chaotic leadership at the wayward EV leader – as buyers have been drawn to other brands, while most of which have seen significant increases in EV sales.
Bullshit, I need a source on that
@Cryophilia @vin Eh, that varies. Driving an EV6 in Poland: all services in the country charge 1850 PLN (430€) for the 30.000 km warranty check.
It's bullshit, that's checking the status readout from teh car computer and checking that yes, the brakes are barely used. Family member ended getting his checkup done on holidays in Finland and paid 300€ in a richer country.
What I'm saying is: yes, the service might be more expensive for now, until the dealerships stop treating it as premium.
Makes sense
https://fortune.com/2024/06/06/ev-market-maintenance-repairs-costly-expensive-insurance-transition/ https://insideevs.com/news/721836/ev-repair-costs-vs-ice-q1-2024/
Oh Insurance! Yeah that's just based on the total cost of the car. That's a fair point.
I went from a 2016 Dodge Challenger to a 2024 Tesla Model S. Same coverage, the Tesla was $32/mo more expensive. Considering the Challenger was $250 in fuel each month, I'd say I'm ahead.
Not in the US it isn't. By far the most expensive part of the insurance is medical. In fact, in my state there are two required insurance types, comp and collision. Guess which two are most expensive. If you get full coverage, these two are about 80% of the bill. I do admit I have relatively inexpensive vehicles. Cars over $100k might have a pretty big impact on insurance costs.