From MarketWatch, April 8:
Global battery electric vehicle (BEV) sales are struggling for traction this year, but it’s looking particularly gloomy in Europe, where Bank of America has cut its outlook.
BEV sales for the 28 European Union countries are expected to rise 11% this year, half of a previous forecast for 22% growth, which will drag down global sales growth to 19%, a team led by research analyst Horst Schneider, told clients in a note on Monday.
The analysts noted global BEV sales fell 7% in February, and while some of that was due to the China calendar effects, even excluding the latter, sales were still just up 13%, versus the usual 20% to 30%. March is also looking weaker, said the analysts.
As evidence of this, EV giants Tesla TSLA and BYD 1211 each reported sluggish first-quarter sales figures, though EU legacy original equipment manufacturers Stellantis STLA , Renault RNO and Mercedes MBG have seen some signs of recovery, said Schneider and his colleagues. Tesla has cited shipping diversions due to the Red Sea conflict and an unplanned stoppage at its Berlin Gigafactory as downside pressure.
Read: Tesla shares rise after Elon Musk says ‘robotaxi’ to be unveiled in August
Bank of America also noted that while Tesla and BYD have seen global market share slipping, Volkswagen VOW3 “continues to be a market share loser.”
As the below chart shows, VW Group remains the top BEV seller in Europe, though Tesla has been gaining. But in the U.S., VW is fourth behind Tesla and 7th in China, where BYD followed by Tesla are top sellers....
....MUCH MORE
Always, always be aware that:
...This stuff is all political and investors must keep an ear to the political ground or risk tremendous losses. There are only two viable approaches to rentseeking investing and politicians, buy 'em or play 'em.
We must have the mindset of the first recipient of the prestigious Climateer Investing "Our Hero" award, the 26th Secretary of War and Democrat and Republican (!) Senator from Pennsylvania.
I'll close with my standard quote, from Simon Cameron.
From our post on biofuels, March '07:
Finally for investors in rent-seeking organizations there is the real risk that the politicians will change the rules. Heed the words of Sen. Simon Cameron (R&D!-Pa.):"The honest politician is one who when he is bought, will stay bought."
Our Hero
That's an April 2009 iteration of the boilerplate in "RENEWED ENERGY: Solar Seeks Special Place in Climate Bill (Rentseeking to the Fifth)".
