…Electric Vehicle Sales Report…
The following table shows vehicle sales for Hybrids, PHEVs and BEVs for the first half of 2017.
- Sales of all three categories increased in the second quarter: PHEVs by the largest percentage, i.e., 21%, BEVs by the smallest percentage, i.e., 7%.
- Sales of PHEVs and BEVs as a percentage of light vehicle sales remained essentially unchanged at 1%.
Sales for the remainder of 2017 could indicate whether BEVs are becoming an important factor in automotive transportation.
Overview of different types of electrified vehicles:
- BEVs are vehicles powered entirely by battery power.
- PHEVs use the battery to travel the first 35 miles, then switch to an internal combustion engine to extend its range.
- HEVs are essentially battery-assisted vehicles that use the internal combustion engine to power the car. Batteries don’t provide the motive power for the vehicle.
The importance of subsidies continues to be debated.
Hong Kong removed its subsidies and BEV sales collapsed.
In the United States, there is a federal $7,500 subsidy for BEVs. Several states have additional subsidies. Thus far, these taxpayer provided subsidies have gone primarily to the rich and famous, because they are the people who could afford the high cost of BEVs.
The next report will be after the introduction of Tesla’s Model 3 and GM’s Bolt, and could reflect whether these models result in significantly higher BEV sales.
There has been considerable speculation that these lower priced models, with list prices of around $35,000, will stimulate BEV sales.
Will their introduction result in BEV sales volumes doubling, or tripling those in the first half?
If not, it will be time to start asking why not?