Tuesday 25th June 2019

Resource Clips



Animation: U.S. electric vehicle sales 2010 to 2019, with chart showing 2018 global EV sales

by Jeff Desjardins | posted with permission of Visual Capitalist | June 4, 2019

It’s challenging to get ahead, but it’s even harder to stay ahead.

For companies looking to create a sustainable competitive advantage in a fast-moving, capital-intensive and nascent sector like manufacturing electric vehicles, this is a simple reality that must be accounted for.

Every milestone achieved is met with the onset of new and more sophisticated competitors—and as the industry grows, the stakes grow higher and the market gets further de-risked. Then, the real 800-pound gorillas start to climb their way in, making competition even more fierce.

Visualizing U.S. EV sales

This animation uses data from InsideEVs to show almost nine years of U.S. sales in the electric vehicle market, sorted by model of car.

It paints a picture of a rapidly evolving market with many new competitors sweeping in to try and claim a stake. You can see the leads of early successes eroded away, the increasing value of scale and consumer preferences all rolled into one nifty animation.

 

The Tesla Roadster starts with a very early lead, but is soon replaced by the Nissan Leaf and Chevrolet Volt, which are the most-sold models in the U.S. from 2011 to 2016.

Closer to the end, the Tesla Model S rises fast to eventually surpass the Leaf by the end of 2017. Finally, the scale of the roll-out of the Tesla Model 3 is put into real perspective, as it quickly jumps past all other models in the span of roughly one year.

The gorilla search

While Tesla’s rise has been well-documented, it’s unclear how long the company can maintain an EV leadership position in the North American market.

As carmakers double down on EVs as their future foundations, many well-capitalized competitors are entering the fray with serious and ambitious plans to make a dent in the market.

In the previous animation, you can already see there are multiple models from BMW, Volkswagen, Honda, Fiat, Ford, Toyota, Nissan and Chevrolet that have accumulated over 10,000 sales—and as these manufacturers continue to pour capital in the sector, they are likely positioning themselves to find out how to create the next mass market EV.

Of these, Volkswagen seems to be the most bullish on a global transition to EVs, and the company is expecting to have 50 fully electric models by 2025 while investing $40 billion into new EV technologies (such as batteries) along the way.

The Chinese bigfoot?

However, the 800-pound gorilla could come from the other side of the Pacific as well.

 

U.S. electric vehicle sales 2010 to 2019

Source: The Driven

 

Chinese company BYD—which is backed by Warren Buffett—is currently the largest EV manufacturer in the world, selling 250,000 EVs in 2018.

The Chinese carmaker quietly manufactures buses in the U.S. already, and it has also announced future plans to sell its cars in the U.S. as well.

How will such an animation of cumulative U.S. EV sales look in the future? In such a rapidly evolving space, it seems it could go any which way.

Posted with permission of Visual Capitalist.

Share |

View All: News Stories