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Electric cars shaping up as growth pole as recovery builds

Following the news that Hyundai Motor Group announced an almost 58% rise in global sales of electric vehicles in the first five months of 2020, to 40,182 units;

 

David Leggett, Automotive Analyst at GlobalData, a leading data and analytics company, offers his view:

 

“Hyundai’s success reflects strong demand in Europe for recently launched electric vehicles such as the Hyundai Kona Electric and Ioniq as well as Kia Niro and the Soul EV.

 

“Before this crisis, we knew that tighter CO2 emissions rules in Europe as well as new model offerings – such as Volkswagen’s ID.3 – would help lift numbers this year.

 

“In addition, we are now seeing crisis support programmes from national governments that will help to lift electric car sales still further.

 

“In France, for example, new incentives mean that a Renault Zoe electric car listed with a price tag of €32,000 could be available at just €20,000.

 

“That kind of purchase price reduction is sure to stimulate demand just as more supply from a range of brands comes on stream.

 

“Electric cars could also benefit from a wider perception that they are ‘cleaner’ than conventional engine cars, as they can have their batteries charged at home, with no need to visit a gas station or handle a pump.”

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Thu. July 2nd, 2020

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AUTOMOTIVE INDUSTRIES

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