Sales of electric vehicles are currently on the rise in Europe and market share is reaching new records in several countries.
They do it with electric cars that are not available in North America.
Amid the pandemic, the auto industry has taken a major hit, but electric vehicles have been a silver lining the industry.
Electric car sales have fared reasonably well despite the overall downturn that has led many markets to record new record market share for electric vehicles versus fossil fuel vehicles.
This is especially true in Europe, where carmakers have launched their new electric vehicles due to fleet emissions regulations.
In November, fully electric vehicles reached almost 10% market share of the automotive industry in Germany:
This new record market share is an important indication that electric vehicles are taking over.
But another interesting point is that of the 10 best-selling all-electric vehicles on the market, 6 are not available in North America:
- Renault Zoe
- Hyundai Kona EV
- VW ID.3
- Smart Fortwo
- VW e-Golf
- VW e-Up
- Tesla Model 3
- Opel Corsa E.
- BMW i3
- Mazda MX-30
Several of these vehicles have recently been launched exclusively in Europe, such as the VW ID.3 and Mazda MX-30.
Pandemic aside, I think this shows two things: the regulations are working and more EV models will be released that will have a huge impact.
All these so-called experts predicting 30-50% EV market share in 2030-2035 are all out.
The availability of more EV models makes a world of difference and the same will happen as more electric cars and trucks in more segments in North America, including pickups, arrive.
I’m not saying there are no differences in customer focus in different markets, but I think options and the lack of options explain a lot of the problem.
This problem is currently being solved in Europe and the same will be happening in North America in the next 2-3 years as 20-30 new electric vehicle models will enter the market.
It is going to be an exciting time.
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