Americans buy Tesla instead of EVs.This is why it is about to change

The logo shows the showroom and service center of the US automotive and energy company Tesla in Amsterdam on October 23, 2019.

John Thys | AFP | Getty Images

Americans aren’t buying electric cars, they’re buying Tesla.

This is a relatively true statement for US consumers in recent years, Tesla According to IHS Markit, it accounts for the majority of EVs sold, including 79% in 2020.But it is beginning to change as a so-called traditional one Automakers and start-ups invest billions of dollars With lots of new electric cars to compete with Tesla.

The influx of EVs is expected to eat up Tesla’s market share in the coming years, from tens of today to the estimation of hundreds of new models by 2025. The new EV is planned as a larger automaker, including: General Motors When Volkswagen, The transition to manufacture electric vehicles almost exclusively in the next 10 years or so.

“It’s not surprising that Tesla still dominates the sale of electric vehicles, as Tesla is the only one that still has a product that is viable in earnest,” said Michael Fi, Associate Director of IHS Markit. Mr. Suke said. “In a growing market, it’s very difficult to maintain a majority market share, regardless of industry …. Tesla loses its share as it begins to move towards more and more manufacturers active in this area. is needed. “”

According to IHS Markit, Tesla’s market share for all-electric vehicles this year is expected to drop to 56% by 2021 due to the introduction of new vehicles such as the Ford Mustang Mach E and Volkswagen ID.4.

Researchers and forecasters expect Tesla’s all-electric vehicle to have a 20% US market share in 2025. This is also the time when LMC Automotive expects General Motors to outperform Tesla as the largest EV distributor in the country.

2021 vs. 2030

Tesla’s current dominance goes beyond relatively insignificant markets. Despite the amount of attention and hype surrounding EVs, sales of all-electric and plug-in hybrid electric vehicles, including electric motors and internal combustion engines, remain low. Industry forecasts predict that sales of electric vehicles, including plug-in hybrid vehicles, will be less than 4% of US sales this year. According to LMC, all electric models such as Tesla account for 2.6% of the market, or about 394,000 units.

“As we move forward, it won’t take long to win significant amounts and share growth,” said Jeff Schuster, president of the Americas. “For the automotive industry, this is a big pivot and growth.”

LMC predicts that electric vehicles will account for 34.2% of new vehicle sales in the United States by 2030, with 30.1% of all electric vehicles and 4.1% of plug-in hybrid vehicles. Some of the most pessimistic estimates by AutoForecast Solutions predict that electric vehicles will account for about 23% of the market by 2030, with 18.6% of U.S. sales going to all-electric vehicles and trucks. increase. IHS Markit predicts that electric vehicles will account for about 40% of US industry by 2030.

Biden’s goal “very optimistic”

“We are very optimistic to reach 50% by then,” said JD Power, managing director of automotive analytics and advisory Tony Salerno, including consumer education, charging infrastructure, and support from the US power grid. I mentioned the issues of. “I think we’ll eventually get there from a utility perspective, but it’s still early, so there are a lot of puzzle pieces that we need to understand to get there.”

Automakers weren’t fully involved when Biden announced an order more characterized as a “friendly goal” earlier this year. Many, including Detroit carmakers, said they “aimed to achieve 40-50% of US electric vehicle sales annually” by 2030.

“It won’t happen, mainly because it’s an undeveloped market, and no one knows how much there is,” said Sam Fiorani, vice president of global forecasting at AutoForecast Solutions. “No one knows how deep the market is right now. If you remove Tesla from the photo, the EV in the market will be less than 1%.”

Americans buy Tesla instead of EVs.This is why it is about to change

Source link Americans buy Tesla instead of EVs.This is why it is about to change

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