Benchmark Mineral Intelligence and the results for January are clear. The global electric mobility market has cooled down, with a 3% drop in annual registrations. This decline brings the volume of sales to approximately 1.2 million units.
The decline in electric vehicle sales
In China, sales fell by 20% following the implementation of a new purchase tax and a reduction in state support. The Asian giant recorded fewer than 600,000 deliveries, its lowest figure in almost two years.
On the other hand, the situation in North America is even more pronounced. Sales there fell 33% to 85,000 units. Analysts agree that political uncertainty under the Donald Trump administration and the review of tax credits have dampened the appetite of U.S. buyers.
Certainly, this scenario has forced major manufacturers to rethink their financial strategies. The major automotive companies have had to record accounting adjustments of close to $55 billion over the past year. They are scaling back their battery production plans. battery production plans a complex North American market. In addition, the easing of environmental regulations in the European Union and China has taken the urgency away from immediate full electrification.
In Europe, on the other hand, there was growth of 24%, with more than 320,000 new registrations. Meanwhile, in regions such as Southeast Asia and Latin America, a different air is in the air. In Thailand, Brazil and South Korea, sales rose by 92% thanks to new local incentives.
Finally, the rise of hybrid or mixed propulsion models is gaining ground over pure electrics. Buyers see electric vehicles as a safer and more economical transition. BMI managing director Charles Lester predicts that Chinese exports will continue to seek space in regions with high growth potential.
Source: Reuters
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