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Only a meager 2% of vehicle sales are non-luxury BEVs
| | Luxury segments are swiftly adopting EVs… why are non-luxury counterparts trailing behind?
We highlighted in our Q1 State of the Industry Report that as of 2023 BEVs constitute a whopping 36% of global luxury vehicle sales, but only a meager 2% of non-luxury sales.
This trend is not surprising. Adam Raggozino, Principal Analyst, Batteries & E-Powertrains, detailed in his presentation 'Who is winning the BEV race?' that we find ourselves at a pivotal juncture in the market's evolution – transitioning from early adopters to the more price-conscious early majority. |
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| With recent price wars eroding margins, it's imperative for the industry to bring down the cost of manufacturing to bridge the gap sustainably. Adam pinpointed three key areas to focus: | | | | | | | | |
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| | | ASK A QUESTION TO OUR ELECTRIFICATION EXPERT | | |
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Adam is a Principal Analyst who covers the rapid advancements in electric vehicle Batteries and Electric Powertrains. His expertise includes critical mineral trends, chemistry trends, battery technology and electric motor technology.
Have a question on any of these topics that could do with an expert answer? Contact WardsAskAnAnalyst@informa.com. |
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