December 04, 2020

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COVID-19-EV sales fall to 18% in 2020 

COVID-19-EV sales

COVID-19-EV sales fall to 18% in 2020 

The coronavirus crises are bringing down the growth in every sector, the sales of electric passenger vehicles are forecast to fall 18% in 2020, to 1.7 million worldwide and the sales of the internal combustion engine cars are said to be 23% and the there seems electric vehicles will develop the long-term in coming years.

COVID-19-EV sales

According to a study, there will be 58% of new passenger car sales globally by 2040, and 31% of the whole car fleet. There will be also 67% of all municipal buses on-road and 47% two-wheelers and 24% of light commercial vehicles.

The use of electric vehicles will remove 17.6 million barrels per day which means almost 1 million barrels of oil demand per day by 2040. 5.2% of electric vehicles will be added to the global electricity demand by 2040.

EVs sales in India 

Colin McKerracher, head of advanced transport for BNEF, commented: “The Covid-19 pandemic is set to cause a major downturn in global auto sales in 2020. It is raising difficult questions about automakers’ priorities and their ability to fund the transition. The long-term trajectory has not changed, but the market will be bumpy for the next three years.”

The global sales of the internal combustion engine or ICE, cars peaked in 2017 and will continue their long-term decrease after a temporary post-crisis recovery. However, the Electric models are seen accounting for 3% of global car sales in 2020, rising to 7% in 2023, at some 5.4 million units.

The fall in lithium-ion battery prices will also give some relaxation in the prices of electric vehicles by 2025. But these numbers can be changed depending on the market size by 2022 and 2030. The growth of electric two-wheelers and fuel cell vehicles (hydrogen) sees the later technology accounting for 3.9% of heavy-duty commercial vehicle sales and 6.5% of municipal bus sales globally by 2040 but with higher shares in East Asia and parts of Europe.

Electric vehicles sales in India 

The sales of electric vehicles have reached to 2,80,000 units till November in India. The sales list includes most of the three-wheelers that run on a lead acid-batteries. The Union government has made a decision that EVs with lead-acid batteries will be stopped from receiving benefits of government incentives in the second phase of the FAME Scheme.

Coronavirus impacts on sales of EVs

The sales of electric vehicles excluding e-rickshaws, in India grew by 20 per cent at 1.56 lakh units in 2019-20 by two-wheelers said Society of Manufacturers of Electric Vehicles (SMEV).

The total sales of EVs in India stood at 1.3 lakh units in 2018-2019. Out of them, the total sales in FY20, 1.52 lakh units were two-wheelers, 3,400 cars and 600 buses. The sale for 2018-19 was 1.26 two-wheelers, 3,600 cars and around 400 buses SMEV said in a statement.

This figure does not include e-rickshaws which is still largely with the unorganized sector with a reported sale of around 90,000 units. The corresponding figures of the e-rickshaws sold in the previous year have not been documented said SMEV.

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About The Author

Mastered my Journalism and entered into writing for Electric vehicles sector. I am a regular writer and EV enthusiast. I love to write about electric vehicles, technology, startups, people, fashion and trends. My aim is to make India pollution-free by sharing knowledge through my writings.

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