Brian Kingston’s Post

UK Carmakers Offer $2.6 Billion in EV Discounts, Still Miss Sales Targets Automakers in the UK are set to provide at least £2 billion ($2.6 billion) in electric vehicle discounts this year, yet they’re still falling short of the government’s sales mandate, according to a Bloomberg report. Record EV Registrations, but Not Enough Despite steep price cuts driving battery-electric vehicle registrations to a record high in September, zero-emission cars failed to meet the 22% market share target set by the UK government for this year. The Society of Motor Manufacturers and Traders (SMMT) reported that EVs accounted for 20.5% of total sales in September and 17.8% of all registrations in the first […] by Haye Kesteloo #ev #Europe #Ford #Make #Nissan #Stellantis #Tesla #Volkswagen

Electric car market share falls as industry calls for incentives to attract buyers: … more incentives to buy electric cars following new data showing … on the purchase of new electric vehicles (EVs), amend plans … said: "Sales of electric vehicles are still rising, despite … be done to stimulate electric vehicle demand among private buyers … #car #cars #awesome

New motor vehicle sales increase in 2023 In 2023, there were 1,755,741 new motor vehicles sold in Canada, up 12.7% (+197,504 units) from 2022. The increase in 2023 was partly due to the recovery of the global semiconductors shortage, which affected the new motor vehicle industry in 2022. However, sales of new motor vehicle units were still lower (-11.3%) compared with 2019, prior to the COVID-19 pandemic. Unit sales of almost all new vehicle types increase from 2022, with the exception of passenger vehicles Sales of new passenger cars continued to decline in 2023, with a drop of 7.0% (-18,955) in units sold compared with 2022. In contrast, there were more heavy trucks (+12.4%), buses (+16.1%) and light trucks (+17.0%) sold in 2023. Sales increase in dollar terms for all new vehicle types In dollars terms, total new motor vehicle sales increased 20.4% in 2023 compared with 2022. Sales of buses had the highest increase (+73.8%) in 2023, followed by light trucks (+23.3%), heavy trucks (+22.7%) and passenger cars (+0.3%). #radio #radioadvertising #autoindustry #auto #automarketing

Electric Vehicle Sales Plummet in Europe: A Wake-Up Call? New car sales in the European Union took a nosedive in August, dropping by 18.3% to their lowest levels in three years. The decline was particularly steep for electric vehicles (EVs), with sales plunging by 43.9%. This marks the fourth consecutive month of falling EV sales, as reported by the European Automobile Manufacturers Association (ACEA). The biggest hits were seen in Germany and France, where EV sales dropped by 68.8% and 33.1% respectively, according to Reuters. A Market in Decline Car sales in Europe have been struggling, falling well below pre-COVID-19 levels. Major carmakers like Volkswagen have warned that this […] by Haye Kesteloo #ev #BatteryTechnology #Europe #Ford #France #Germany #Make #Nio #Renault #SEC #Stellantis #Tesla #Volkswagen

As we witness a resurgence in demand from retailers, particularly in restocking petrol and diesel models to normal levels, concerns arise regarding the dwindling supply, especially in the zero-to-four-year-old non-BEV segment. It's becoming increasingly clear that vehicles entering the used vehicle market within this age bracket are becoming scarcer by the day, presenting some alarming figures that are hard to ignore. Adding to this challenge is the overwhelming dominance of ICE car sales in the used market, with petrol and diesel cars comprising approximately 94% of total used car sales in 2023. This stark reality is further compounded by the relatively low demand for used electric cars, accounting for just 1.6% of total used car sales during the same period. However, there's a glimmer of hope on the horizon, as the growth of new EV sales may eventually lead to a trickle-down effect, freeing up ICE used car supplies. Cox Automotive Europe Philip Nothard Autocar Business Vertu Motors plc Robert Forrester Stellantis Eurig Druce https://lnkd.in/einFHVG6

UK new car sales fall 6% in October, industry data shows New car registrations in the UK fell for the second time this year, dropping 6% to 144,288 in October, industry data showed on Tuesday. The Society of Motor Manufacturers and Traders (SMMT) said declines were recorded across all buyer types except battery electric vehicles (BEVs). Nearly 300,000 new BEVs hit the road in 2024, representing 18.1% of the market share year-to-date, an increase from 16.3% last year but still short of Britain's 22% target. Read more at Reuters

THE DEATH OF PETROL ENGINE CARS? Reduced output from manufacturers during Covid and increased production of EV's means that the supply of used petrol engine cars will decrease permanently. While the exact timing for full adoption of EV's by consumers is not clear, used car retail businesses need to be ready. The attached article by Tom Seymour highlights what will happen. https://lnkd.in/dK3GdvJC

Electric car sales rose by 24% in October from a year earlier to take more than one fifth of the new vehicle registrations market. However, industry experts said that a 6% drop in total sales of new cars over the month indicated that manufacturers were holding back petrol and diesel vehicles in an attempt to hit the government’s zero-emission targets and avoid large fines. Price-cutting of electric cars has been the standout trend of autumn car sales, following large-scale discounting in the September, the month that numberplates change. It is estimated that the same electric model is now retailing at 12% less than a year ago

Toyota, Volkswagen dominate March passenger vehicle sales: Latest data indicates that the combined sales of Toyota and Volkswagen accounted for a commanding 73.1% of the new passenger vehicle market in Namibia last month. A total of 625 new passenger vehicles were sold in March, marking a significant 35% increase from the previous month and an 11.4% year-on-year rise.  According to IJG Securities, Toyota has […]

Motorists will have to be offered steep discounts on electric vehicles to achieve a bold federal plan to cut the nation’s fuel emissions over the next five years, says a new analysis that predicts the average price may have to be $31,000 below that of an equivalent petrol passenger car. The discount might need to be as much as $47,000 below the cost of a diesel ute to encourage enough motorists to switch to an electric one instead, based on advice to the Australian Automobile Association. #EV #auspol