Electric car sales climbed by 65 per cent in 2018 and reached the 2.0 million unit mark, as preliminary numbers suggest.This corresponds to a 2.1 per cent share of global car sales.China´s EV market share climbed to 53 per cent, i.e. the country sold more EVs than the rest of the world.
What is the state of the Chinese economy? Growth estimates for 2018 differ widely between the official 6.x percent, down to less than 2 per cent.
A strong indicator of weakness is the official car sales number for 2018. It declined, for the first time since 1990, by almost 6 per cent to 22.7 million units. December numbers were even 19 percent below last year, as Bloomberg (CAAM) reported.
The market of combustion engine cars (i.e. gasoline or diesel driven) suffered even more because the sales numbers of electric cars rose, thanks to generous government and municipal support. The fleet of new battery-electric cars (BEV) and plug-in hybrids grew strongly to over 1 million units in 2018 and may reach 1.6 million units in 2019 as strict quotas come into force.
But problems are not confined to the Chinese market. The headline-grabbing diesel car scandals may mask a global sales crisis of gasoline/diesel cars, as a recent study by RBC Capital suggests (see image above). Main reasons are urban smog policies, quickly […]
The current edition of our newsletter Global Energy Briefing (No.170) reports on prices, trends and events on the international energy markets. Topics are among others:
(1) Oil price outlook after OPEC/Russia-Decision
(2) US gas prices surge by more than 40 per cent; but sink in negative territory in Permian Basin
(3) EU/Asian gas markets – relaxed winter outlook
(4) Hard coal markets: Prices down; weak 2019 outlook
(5) Power markets: Japan – back to nuclear
(6) Electric car markets: strong US numbers; China new all-time high in October; EV market share 7 per cent by December?
The current edition of our Global Energy Briefing (No.168) reports on prices, trends and events on the international energy markets. Topics of this issue are among others:
Oil price outlook – Iranian sanctions could fizzle out, weak oil price expected. Gas prices – relaxed winter outlook in Europe and Far East, China already supplied with LNG. Coal power generation unexpectedly attractive due to cheap blends; Glencore/Tohoku agreement. Emission prices (ETS) – stabilization after profit takin. Electric cars: Steep rise in USA; stagnation in Germany. Feature: Global investments in renewables in third quarter: shrinkage of 6%, sideways trend now in seventh year.