Electrifying Growth
Electric car sales have grown by 63% in January this year versus January of last year. Now I thought they were slowing down. Ev sales are certainly not slowing down. 63% I mean, is that slowing down? No, I don’t think so.
2024 has started off with an incredible surge electric car sales. Thailand, EV sales are up 240%, Turkey 220%, Brazil 263%.
I mean, these are the places where experts and lobby groups said that EVs wouldn’t become popular. They were too expensive.
Well, turns out they were dead wrong. The more affordable EVs become, the more mainstream they become, especially in places like Southeast Asia.
Last month, EV sales actually grew by 50% year over year. Plug-in hybrids grew by 91%, so that takes that total to 63%, but realistically, EV sales grew by just under 50%, still a pretty amazing number.
Now, you’re probably wondering who exactly is buying these EVs? What brand EVs are selling? Well, okay, the Tesla Model Y is still by far the best selling electric car in the world. It’s miles away from anyone else.
74,230 Tesla Model Y were delivered in January. Now, this is an estimate we don’t the exact numbers because Tesla hasn’t reviewed those yet. This estimate comes from CleanTechnica.
Tesla Model 3
Number two was the Tesla Model 3 with 35,109 deliveries. And in third place was the BYD Seagull. Now, the Seagull is only sold currently, right now, in China.
Now, there’s a couple, about 50 or 100 that were sold outside of China, but primarily of those 28,000 Seagulls that were delivered, about 27,900 were delivered in China.
BYD Dolphin
The BYD Dolphin was next. Now, this is a global car. Dolphin, 23,000 deliveries. The BYD 803 was next with 23,000 deliveries as well.
Then you’ve followed by the Cheung An Lumen. The Lumen is an affordable electric car that’s currently only sold in China, but Cheung An do plan on selling these outside of China as well.
That was followed by the very diminutive but very popular Wuling Hongwan Mini EV 15,000 of those were delivered.
Wuling Bingo
Now, next was the Wuling Bingo with 11,746 of those. Geolink Panda Mini with 11,000, the GAC Aon Y with 10,000, and the Volkswagen ID 4 with 9,786. The ID 3 was with 9,604 deliveries.
So ID 4, ID 3 did manage to scrape into, I guess you could say, the top 13 best-selling cars in the world.
But clearly, you can see here, BYD and Tesla are dominating these rankings. For the month of January ev sales were very, very close between BYD and Tesla. Byd, they delivered 110,000 electric cars.
Tesla delivered 113,000. Actually, it’s closer to 111,000 for BYD and 114,000 for Tesla. Tesla won just very close by 3,000 deliveries.
Now, unfortunately, sales in February for BYD have gone down significantly. Byd, I believe, probably delivered around about 65,000 EVs worldwide.
Tesla, on the other hand, probably delivered approximately 160,000 from our initial estimates.
Now, these numbers will change drastically by the time we get to October, November, December. That’s when BYD is going to have some really good months.
They’re the strongest months of the year. But right now, Tesla are just ahead in this race. In January, in terms of February sales, Tesla are well ahead.
But clearly, BWD and Tesla, the two biggest electric car manufacturers in the world. Delivery sales, like I said, have grown up nearly 50% this year worldwide.
In my opinion, that’s amazing. But I think by the end of this year, electric cars will be cheaper than they are today.
There’ll be more models available. Prices will continue to go down because of the massive decline in the cost of batteries.
That will make them more popular. It’s like once a smartphone becomes more popular, it catches on, more people buy it, the price comes down, you make more of them, the price comes down again.
It’s like a virtuous cycle. I think we’re going to continue to see that for the The rest of this year.
By the end of this year, all this stuff that dealerships have been making up, that car manufacturers who don’t really want to sell EVs have been making up about the EV slowdown. All those myths will be well and truly proven to be 100% false.