The sales results for the first half of 2024 in Europe are truly remarkable. There have been some interesting changes compared to last year:
Overall Sales Increase: +4.3% 👍
Internal Combustion Engine Vehicles: -0.7% 👍
Electric Vehicles (EV): +1.3% 🤦
Plug-in Hybrid Vehicles (PHEV): -19.9% 🤦
Hybrid Vehicles: +26.4% 😇
Last year, while everyone was rushing to buy EVs (electric vehicles) and being pressured to do so, I said, "This is not normal, the EV transition cannot be this fast." I was heavily criticized for this and labeled as an outdated automotive executive. However, I believe I have been proven right. The results validate my perspective because I assessed the situation from an engineering standpoint without getting carried away.
About Electric Vehicles (EV) and PHEVs
Following last year's EV craze, this year's results show that the growth rate of EV sales is quite low. This indicates that my prediction of the EV transition not being so rapid was correct. Similarly, PHEVs (plug-in hybrid vehicles) did not receive the expected interest in the market, with sales dropping by 19.9%. This suggests that PHEVs will not see high demand and will not become a permanent fixture in the market. There are many reasons for this.
The Rise of Hybrid Vehicles
On the other hand, hybrid vehicle sales increased by 26.4%. This clearly shows that hybrid vehicles will continue to be the mainstream vehicle group until the EV transition. The advantages provided by hybrid vehicles and the interest from consumers indicate that they will hold a significant place in the future.
PHEV Production in Turkey and BYD
This situation is also bad news for BYD, which will produce PHEVs in Turkey. It would have been better if BYD produced EVs instead of PHEVs. The lack of demand for PHEVs shows that they need to reevaluate their production and sales strategies.
(Note: Personally, I like PHEV vehicles, so my criticisms are not about their performance or utility, but purely based on market trends and demand.)
Conclusion
This year's sales results have once again highlighted the importance of making careful and realistic evaluations in the automotive industry. It is clearly seen that it is essential to analyze the speed of technological changes and market dynamics correctly and take steps accordingly in the future. The future of EVs and PHEVs remains uncertain, but it is certain that hybrid vehicles will continue to be mainstream for now.
In light of these evaluations, it is crucial to closely monitor developments in the automotive sector and shape strategies accordingly.
Comments