[DarthVeda]

I was unable to edit my previous post, so a new one.

The January 2024 wholesales include best-ever monthly EV dispatches of 6,979 EVs, which effectively translate into an EV penetration level of 13 percent for the month

[ATTACH=2be09c532924433f8460c4255fe9ed83_TATAMotors JANevSALES.jpg]Tata TV Sales[/ATTACH]

I see a growth of EV from the above table, and it is only going to get better with better offering such as Punch, Harrier and Safari in the mix.

[volkman10]

Ford sales in USA:

Ford’s EV sales drop 11% while hybrids surge 43% in January.

The tradeoff was part of a 4.3% increase overall for the automaker in the first month of 2024.

In total, Ford sold 152,617 vehicles in January of 2024. That’s up 4.3% over the same month in 2023, but the increase clearly wasn’t consistent across fuel types. The smallest part of Ford’s sales, electric vehicles saw a decrease from 5,247 vehicles in 2023 to just 4,674 this year. Hybrids jumped up from 7,816 units in 2023 to 11,157 this year.

This substantial increase in hybrid sales managed to offset a 10.3% decline in electric vehicle sales for the same period.

Link:

[DarthVeda]

Meanwhile, "Real" electric car manufacturers experiencing growth:
https://electrek.co/2024/02/01/byd-e...orts-new-high/

As far legacy manufacturers, their offering isn't that great, it's like Mahindra coming out with the first XUV 400 with interiors of 2000s and complaining no one buying or it not setting sales records, the same goes for Citroen with their eC3.

[volkman10]

EV sales plunge 55% in Germany as incentives are withdrawn.

Sales of electric vehicles plummeted in January, hinting at turmoil within the broader German automotive sector.

Like much of the rest of the world, Germany previously provided tax incentives to citizens purchasing electric vehicles. However, in December, the nation’s government abruptly decided to end the incentive program, and in the aftermath EV sales have cratered.

Compared to December 2023, sales of new electric vehicles were down 54.9 percent, while sales of plug-in hybrids were down 19.6 percent in the first month of 2024. On the other hand, the markets for vehicles with internal combustion engines were up more than 9 percent — +9.1 percent for gas, +9.5 percent for diesel.

Fortunately, Germany remains one of the world’s largest automotive exporters, which may offer some relief to automakers amid the challenging outlook for the industry.

Link:

[HighOnSpeed]

Originally Posted by DarthVeda

I see a growth of EV from the above table, and it is only going to get better with better offering such as Punch, Harrier and Safari in the mix.

That's strange. Wonder why Tata decided to throw in discounts of up to 2.8L on the Nexon Evs. Maybe sales haven't picked up to the extent they have anticipated. Or could it be because the XUV400 could be had with a discount of upto 4L now?

[DarthVeda]

That was on the pre-facelift model, they did a fire sale on that one, it just shows you the markup these companies do on EV when they know there won't be a continuous source of income from spare parts like they can milk their consumers on ICE.

[pgsagar]

Originally Posted by HighOnSpeed

That's strange. Wonder why Tata decided to throw in discounts of up to 2.8L on the Nexon Evs. Maybe sales haven't picked up to the extent they have anticipated. Or could it be because the XUV400 could be had with a discount of upto 4L now?

2.8 L discount on Nexon EVs? Where, when? When did that happen? I checked with dealer a few days back after MG cut ZS prices. No discounts, dealer said. Fearless +LR that I am interested in, still stands tall at Rs. 18.69L, ex-dealer. The only saving grace in my state is that AP govt waived off Life Tax (17%) on EVs. That's a massive saving of Rs.3.17L on Nexon Fearless+LR. No wonder EVs(almost all Tata's) are flying off shelves, in my state. But greedy me is waiting hoping Tata knocks a few L's off Nexon's price the way Mahindra and MG did, further sweetening the deal. But I can't wait forever because Life Tax waiver is for a short period, to be determined by state govt. based on no. of copies sold. If I wait too long, Life Tax maybe back. I buy too soon and Tata cuts prices post my buy, I will curse myself. So, I am caught here in a bit of a quandary. To wait, or not to wait.

[HighOnSpeed]

Originally Posted by pgsagar

2.8 L discount on Nexon EVs? Where, when? When did that happen? I checked with dealer a few days back after MG cut ZS prices. No discounts, dealer said. Fearless +LR that I am interested in, still stands tall at Rs. 18.69L, ex-dealer.

That was on basis of a post I saw on my news feed. Here's a link for your reference.
https://www.rushlane.com/tata-nexon-...-12487772.html
Mahindra's discounts have pushed other car makers to sweeten their offerings too. Also, I should mention that the offers were mainly for the pre-facelift and December inventory. The new inventory can be had with discounts(maybe upto 25k) if you haggle a bit. If you are not in a hurry wait for some FY end offers.

Originally Posted by DarthVeda

That was on the pre-facelift model, they did a fire sale on that one, it just shows you the markup these companies do on EV when they know there won't be a continuous source of income from spare parts like they can milk their consumers on ICE.

Still, I wonder if they are managing to breakeven even after considering the tax breaks and incentives offered to manufacturers. The development and production costs must be definitely higher than what they are able to recoup considering the current volume of sales. I know with reduction of every ICE vehicle, the government will be saving money, but the charging infra is just not picking up with the same pace. Ford is currently trying to achieve a world record on their new Electric Explorer, but apparently, India had one of the most unreliable and scare charging network so far.

[pgsagar]

Originally Posted by HighOnSpeed

That was on basis of a post I saw on my news feed. Here's a link for your reference.
https://www.rushlane.com/tata-nexon-...-12487772.html

Well, Rushlane got it all wrong. Rushlane is still talking about Nexon Prime and Max. Those are long gone. Now it's all MR and LR. After seeing your post, I called up all three dealers in my town and they all said no such discounts. One dealer said they have 65k discounts on Dec.'23 models but those are all sold out except for one Nexon Empowered LR top variant and a few Creative plus MR variants.

[volkman10]

Mercedes walks back EV sales target on waning demand.

Variable cost parity between EVs and traditional cars 'is many years away - Mercedes CEO Ola Kallenius


Link:

[volkman10]

Tesla sold just 1 unit, but hybrids have 20-month wait - Korea's EV demand eased amidst rising electricity prices and reduced subsidies.

Korean consumers are one of the most image conscious in the world, demanding the best and the latest. The country is the fifth biggest export market for Mercedes-Benz and Porsche, ranking ahead of Japan, despite having less than half as many citizens.

When high-end battery EVs like Tesla became status symbols, Korean buyers jumped in. Now, they are jumping out. Like many countries, Korea’s EV market has gone past the early adopter’s stage, and regular car buyers may not have as much patience in dealing with hurdles of unsatisfactory charging services, increased in electricity tariff, and reduced subsidies.

Hyundai sold just 39 units of the Ioniq 5, a 95% drop from the previous month. The Kia EV6 did just 29 units, down 96%.

At the same time, Korean consumers are migrating to hybrids en masse – something which even the very detailed Hyundai Motor Group, which also owns Kia – hadn’t expected.

The waiting period for some variants of the Kia Carnival Hybrid and Hyundai Avante (Elantra) is now up to 20 months! Battery EV models, however, can be delivered within the same month, with generous discounts thrown in.
In Malaysia has announced a higher 8% service tax for households using more than 600 kWh. The move is expected to impact 15% of domestic electricity users.


Link:

[thomahawk]

I think the government can easily kill off demand of EV's if they chose to do so. Kerala has high demand for EV's - but the state electricity board who has a monopoly can easily kill it off by demanding separate metering for 4W EV's and introducing a different tariff for it. Even changing from net metering to gross metering for solar would have a cascading effect on EV demand.

[volkman10]

Why EVs aren't very popular in the United States.

- Open roads and lower fuel costs keep bigger combustion cars on the highways of America.

- Big Cars, Big Roads: Big Infrastructure: It takes time to shift from fossil fuels to electric power, both physically given the sheer size of the country, and culturally. Installing a reliable charging infrastructure to cover all areas will be a years-long effort. Getting drivers to transition from big engines to smaller electric motors could take longer.

-Price at the pump: The availability of energy sources in the US has a direct—and favorable impact on fuel prices throughout the country. Gasoline and diesel costs remain much lower than those in many regions where government policies encourage less driving and electric alternatives through higher fuel taxes.

-Import laws make EV production a challenge: As a result of growing competition from China and its global expansion plans, the US government has taken measures to promote localized production with the Inflation Reduction Act (IRA). Despite good intentions for the American economy, the regulations can have negative effects on battery-electric vehicle producers within the country.
The lack of competitive raw materials could make IRA an obstacle for American automakers in producing BEVs. This is another reason consumers are delaying the switch from ICE to electric vehicles.

-A Political Controversy: Political uncertainty is forcing some automakers to delay their electrification plans, sending a negative message to potential electric vehicle customers







Link:

[volkman10]

Kia sets sights on hybrid growth as electric demand wavers.

The South Korean company told investors and media it won't put all its eggs in one basket, despite early successes with its electric models.

South Korean car maker Kia plans to more than double its hybrid line-up over the next four years as part of efforts to “manage fluctuation in electric vehicle demand”.

The company told an investor and media presentation last week week it plans to grow its hybrid-electric fleet from six models in 2024, to eight in 2026, and nine by 2028.

It also intends to offer hybrid power as an option on most of its top-selling models, and will develop next-generation hybrid systems with improved performance, torque, and fuel efficiency.

Link:

[linuxworld]

In FY 23-24, EV sales in India substantially grew across all the categories.

The sales of electric passenger vehicles soared to 90,996 units in the 2023-24 fiscal year, a remarkable 91 per cent increase from 47,551 units in FY23. Tata Motors emerged as the leader in this segment, with registrations of 64,217 units, reflecting a 66 per cent growth compared to the previous fiscal.

Registrations of electric two-wheelers also witnessed a substantial rise, increasing by 30 per cent to 9,47,087 units in FY23-24 from 7,28,205 units in FY23. Ola Electric led this space with retail sales of 3,29,237 units, followed by TVS Motor Company with registrations of 1,82,969 units.

Three-Wheelers: Electric three-wheeler sales saw a significant growth of 56 per cent, reaching 6,32,636 units in FY23-24 compared to 4,04,430 units in FY23. Mahindra Group performed well in this segment, retailing 60,618 units, a 69 per cent increase over the previous fiscal.

Commercial Vehicles: The sales of electric commercial vehicles also surged, reaching 8,571 units in FY23-24, a significant increase from 3,111 units in FY22-23. Tata Motors led this segment as well with 5,590 units sold, followed by JBM Auto with registrations of 530 units.

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