Back in the May, Bloomberg put out an outlook report on the adoption of electric vehicles. They projected a %2.7 market share of electric vehicles by 2020, a %10 new car sales rate by 2025, and a %58 number for 2040.
Well, Europe’s electric car sales figures are in for the month of June, and they paint a very different picture. Thanks largely to the incentive programs of numerous countries, and the aggressive sales of Renault’s Zoe and Telsa’s Model 3, Europe had %8.2 plug-in electric (%4.4 BEV) sales in June.
While we originally panned the Bloomberg report for being far too conservative with its estimates, these numbers have made that an understatement. In fact, the first half of 2020 saw European EV sales represent %7.9 of new car sales.
Of course, this is Europe, and not the entire globe. Also, the “situation” has lowered global car sales by about a quarter. However, considering the multiple car firms which expect the lockdown to accelerate EV adoption rates, and this anomaly in the numbers can easily lead to a snowballing in electrification.
EV Sales Blog, reported about 93,000 new passenger plug-in cars being registered in June alone. That’s still 95% more than June of last year. Over 10,000 of those were Renault’s Zoe, which has even been made free by a dealership in Germany, thanks to incentives. The Tesla Model 3 sold over 7,000 units in June, and Tesla hasn’t even started producing them at their upcoming Berlin factory.
Drivers of electric cars understand how unlikely it is to ever return to a combustion vehicle after going electric. Now that the price parity has been reached, and the incentives are aligned, expect the adoption rate to continue its exponential rise.
Don’t be surprised if EV sales reach %10 by the end of 2020.