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The Electric Revolution Continues: September 2023 Industry News (I)

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In the ever-evolving landscape of electric vehicle (EV) mobility, September has brought a flurry of noteworthy developments across the globe. From the rising stars in the EV market to the giants maintaining their dominance, the world of sustainable transportation is abuzz with excitement.

Hyundai’s impressive 1% sales increase and record-breaking performance in their EV lineup have turned heads, while Tesla continues to set the pace in Europe’s burgeoning EV market. Meanwhile, India’s relentless pursuit of a 100% electric future and Italy’s remarkable growth in e-mobility after a cautious start offer inspiring tales of transformation. In this week’s edition, we’ll delve into these stories and explore the phenomenal success of the BYD Atto 3, Sweden’s reigning champion in electric vehicles.

National flag of America

Hyundai Reports 1% Sales Increase for August, Achieves Record-Breaking Performance in EV Lineup

Hyundai logo

Hyundai's U.S. Sales Performance in August 2023

  • Hyundai’s U.S. sales in August reached 65,046 units, a 1% increase from August 2022.
  • Sales in August were slightly lower than July, which saw 66,527 units sold.
  • This marks the fifth consecutive month of lower month-over-month sales.
  • August 2023 had the smallest yearly sales gain for Hyundai in 2023.

Overall Sales Trends

  • Hyundai reached a peak of 75,404 units in March but has seen a decline since.
  • The company had a lower year-over-year sales increase in August compared to previous months in 2023.
  • Hyundai has sold 526,186 ICE, hybrid, and electric vehicle units in North America, an increase of 12% from the same period last year.

Electric Vehicle Sales Performance

  • Sales of eco-friendly models increased by 80% year-over-year in August.
  • Several Hyundai electric vehicle models, including the IONIQ 5, Sante Fe HEV, Santa Fe PHEV, Kona EV, Tucson HEV, and Tucson PHEV, set sales records.
  • Hyundai’s commitment to eco-friendly products has yielded positive results.

Automaker Industry Trends

  • The automotive industry is experiencing stagnation in demand due to inflated car prices and economic issues related to the COVID-19 pandemic.
  • Hyundai’s performance in 2023 is comparatively strong when considering industry challenges.
  • The success of Hyundai’s electric vehicle segment is noteworthy, indicating potential growth in the EV market.

Implications for OEMs (Original Equipment Manufacturers)

  • The rapid growth of Hyundai’s electric vehicle sales is encouraging for OEMs planning to release more battery-powered models.
  • Despite EVs being a niche market, the acceleration of sales indicates changing consumer preferences.
EU flag

Tesla models lead Europe’s EV market in first half of 2023

Europe's top twenty EV sales by model

European EV Market Growth in June 2023

  • Europe experienced significant growth in the electric vehicle (EV) market in June.
  • There were over 311,000 EV registrations, reflecting a 42% increase compared to the same month in 2022.
  • The overall automotive market also grew, with a 19% year-on-year increase.

EV Market Share in Europe

  • Electric vehicles accounted for 25% of all new-car registrations in Europe, including the EU, UK, and EFTA markets.
  • Battery-electric vehicles (BEVs) alone held a 17% share, with a 57% increase in newly registered units year-on-year.
  • Plug-in hybrids (PHEVs) saw a 17% growth rate, ending the month with nearly 100,000 units.

Top-Selling EV Models

  • The Tesla Model Y remained the best-selling EV in Europe for the eighth consecutive month, with 33,523 registrations in June.
  • The Tesla Model 3 secured the second position with 14,163 registrations.
  • The Volkswagen ID.4 ranked third with 10,252 registrations and had increased production availability.
Europe's top twenty EV sales by model(January to June)

Performance of Other EV Models

  • Other notable EV models included the Fiat 500e, MG4, Skoda Enyaq, Renault Megane EV, BMW iX1, and Kia EV6, each with their respective registration figures and market performance.

Comparison of Tesla Model Y and Model 3

  • The Tesla Model Y had three times the deliveries of the second-place Model 3 in the first half of 2023.
  • The competition for the second position included the Volvo XC40 and VW ID.4, both closely trailing the Model 3.
  • Various other EV models are mentioned in terms of their performance and market challenges.

Challenges and Strategies in the EV Market

  • Challenges and strategies in the EV market are discussed, including the role of the Renault-Nissan alliance and the transition to new EV models.
  • Market dynamics and competition are analyzed, highlighting the limited direct competition for the Tesla Model Y in Europe.

Brand and Automotive Group Rankings

  • Tesla led the brand rankings with a 13.1% share in June, followed by VW with an 8.5% share.
  • BMW, Mercedes-Benz, Volvo, Audi, and Peugeot are also mentioned in the brand rankings.
  • The ranking of automotive groups, including VW Group, Stellantis, BMW Group, Geely-Volvo, Mercedes-Benz, and Hyundai-Kia, is provided with their respective market shares.
National flag of India

India's EV Transition Progress Tracker: Weekly Updates on the Journey to 100% Electric Vehicles by 2030

India's EV Transition Goals

  • India’s ambitious goal of achieving a 100% transition to Electric Vehicles (EVs) by 2030.
  • The government’s commitment to align the automobile industry with this vision, as demonstrated by the Ministry of Road and Transport.

Government Initiatives

  • Policies and plans being formulated to support the growth of the EV industry.
  • Government procurement plans for Electric Cars and Buses.
  • Efforts to encourage the establishment of charging infrastructure.

Insights and Analysis

  • News and Our Views: Capturing new developments related to EVs in India and providing analyst views on their implications for companies and the overall sector.

Industry Perspectives

  • Industry Viewpoint: Insights from industry experts on trending topics related to EVs in India, such as the feasibility of Battery Swapping.

Spotlight on Companies

  • News Maker: Featuring a snapshot of a company that is making significant strides in becoming EV-ready. One new company will be highlighted each week.
National flag of Italy

Italy's Rapid Growth and Untapped Potential in E-Mobility After a Gradual Start

EV charging station

Current E-Mobility Trends in Italy

  • Italy’s slow start in adopting EVs.
  • The recent rise in EV sales.
  • The state of public charging infrastructure, including its shortcomings in fast chargers.
  • The potential impact of government incentives and regulations on charge-point operators.

EV Sales Penetration and Government Targets

  • Italy’s EV sales penetration rate compared to the global average.
  • The impact of uncertainties over incentives on EV sales in 2022.
  • Italy’s attractiveness as a market due to its large total vehicle sales.
  • The government’s target of achieving 6 million EVs by 2030.
EV potential of Italy

Public Charging Infrastructure in Italy

  • Italy’s vehicle-to-point ratio and its comparison to the global average.
  • The growth rate of public charging infrastructure in Italy.
  • The focus on destination charging and challenges in on-street charging points.
  • The distribution of charge points per kilometer and the prevalence of DC chargers.
  • General satisfaction with the current charging experience.
  • The shift toward high-power charge points for broader territorial coverage.
EV charging infrastructure in Italy

The Charging Market Landscape

  • Dominant players in the Italian charging market: Enel X Way and Becharge.
  • The emergence of new players entering the market.
  • Ambitious growth plans and strategic partnerships among market players.

Opportunities for Charge Point Operators (CPOs)

  • Italy’s status as a relatively immature market for EV charging.
  • Opportunities for CPOs to establish partnerships with retail chains for prime locations.
  • The potential for CPOs to participate in upcoming calls for tenders to expand network coverage.
National flag of Sweden

BYD Atto 3: Sweden's Bestselling EV at 59.9%

Overview of the July Auto Market in Sweden:

  • Plugin EVs capture a 59.9% share, up from 50.1% YoY.
  • Full electrics (BEVs) increase their share YoY, while plugin hybrids (PHEVs) remain stable.
  • Overall auto volume declines by 3% YoY to 17,300 units.
  • BYD Atto 3 emerges as the best-selling vehicle in July, irrespective of powertrain.

Breakdown of EV Market Share in July:

  • BEVs comprise 37.5% of the share, while PHEVs make up 22.4%.
  • Comparison with July 2022 figures highlights the growth of BEV share.

Volume Changes for PHEVs and BEVs:

  • PHEVs decline by 8% YoY to 3,882 units, while BEVs grow by 39% to 6,487 units.
  • This growth in BEVs is notable given the overall decline in auto volumes.

Hybrid and Combustion-Only Powertrains:

  • HEVs lose YoY share, while combustion-only powertrains also decline significantly in both share and volume.
  • A long-term trend suggests a decreasing share for combustion-only powertrains.

As we conclude this week’s EV mobility news journey, the future of sustainable transportation appears more promising than ever. Hyundai’s remarkable achievements, Tesla’s ongoing dominance, India’s determined progress, Italy’s rapid transformation, and Sweden’s love affair with the BYD Atto 3 collectively showcase the global shift towards electric mobility.

 

With each passing day, the world inches closer to a cleaner, greener, and more sustainable future on the roads. Join us next time as we continue to unravel the latest stories and breakthroughs in the dynamic world of electric vehicles, driving towards a cleaner, brighter tomorrow.

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