1、Electric Vehicle Sales Review Q1 2024Foresight to drive the industryApril 2024Strategy&This publication has been developed in collaboration between Strategy&,PwCs global strategy consulting business,alongside PwC Autofacts Automotive industry and function experts.Together,we transform organizations

2、by developing actionable strategies that deliver results.At PwC,our purpose is to build trust in society and solve important problems.Were a network of firms in 151 countries with almost 364,000 people who are committed to delivering quality in assurance,advisory and tax services.Find out more and t

3、ell us what matters to you by visiting us at .PwC refers to the PwC network and/or one or more of its member firms,each of which is a separate legal entity.Please see for further 2Strategy&Executive summary 3China responsible for more than two in three PHEV sales in all analyzed marketsNearly70%Perc

4、entage of global PHEV sales recorded in China in Q1 2024The global PHEV and REEV market continues to flourish,with combined sales in allanalyzed markets surpassing the one million mark for the first time in any first quarter.China registered nearly 70%of those sales,after enjoying PHEV and REEV sale

5、s growthof 76.7%in the first quarter of 2024 compared with the same period last year.China was not the only major market to record significant PHEV growth.In the UnitedStates,PHEV sales increased 69.7%in Q1 2024 vs.Q1 2023.Sales of hybrids also grewsignificantly in the US,up by 45.7%.While BEV sales

6、 in all analyzed countries slowed to 10.9%in Q1 2024 over Q1 2023,continued PHEV and hybrid growth in China and the US bodes well for an electrifiedfuture.The purchase of a PHEV or self-charging hybrid can be seen as a first step forconsumers away from ICE vehicles.If they are satisfied with this pr

7、oduct,they becomemore disposed to purchase a fully electric vehicle at a later date,especially asimprovements in driving ranges and charging infrastructure continue to allay any residualcaution.Indeed,the bald statistics make the general direction of travel impossible to ignore.Whiletotal EV sales i

8、n all analyzed markets increased by 18.5%in Q1 YoY,there was a 2.1%decline in ICE sales.Chinese PHEVs are not just increasingly evident on the roads of Beijing and Shanghai,butelsewhere in the world too,particularly in Europe.PHEV exports from China to globalmarkets grew by 159.9%in Q1 YoY,up to 59,

9、000 units.As Europe expands its domestic BEV production to counter this competitive threat fromChina,it is inevitable that the EU trade balance will be negatively affected,at least in theshort term.As discussed in our Analyst Insight section,the EU imports almost all the rawmaterials and components

10、required for battery manufacture,as well as most of its cellproduction equipment.More than one million PHEVs sold in first quarterStrategy&These plans are at odds with Apple and Dyson,who haveboth independently cancelled their plans for an electric cardue to its complexity and low profit margin.8Ren

11、tal firms cut BEVs,but subscription growsHertz and Sixt have slashed the number of electricvehicles in their rental fleets,principally due to fallingresale values and high repair costs.9BEV resale value in the US fell by up to a third during 2023.As the price of a new BEV has gone down dramatically,

12、atrendattributedinlargeparttoTeslasaggressivereduction,the amount people are willing to pay for a usedBEV has fallen commensurately.The problem has beenexacerbated by the loss in value of all vehicles due to theincreasedsupply.HertzexpectedtosufferBEVdepreciation costs of around US$245 million in th

13、e fourthquarter of 2023.This loss has prompted the company tosell off a third of its electric fleet in the US,and use theresulting revenue to purchase more ICE vehicles instead.10Falling residual values are also disconcerting prospectivecompany car fleet buyers.As an alternative,they areturning in l

14、arger numbers to the subscription model forBEVs,thus avoiding the unpredictability of the resalemarket and offering significant flexibility to the end user.Faaren Group,a car subscription software provider basedin Germany,reports that commercial car subscriptions areon the increase and now account f

15、or one quarter of allbookings.114Affordable BEVs launching to counter ICE B-segment dominanceCheaper models heat up competitionBEV manufacturers in Europe and the United Stateshave tended to focus on producing larger,premiummodels.However,they are now turning their attentionto the more affordable B-

16、segment of small cars,amarket hitherto dominated by ICE models.Several B-segment ICE cars are available in the 20,000-25,000 price range.1A number of BEV models aretherefore being planned or even launched at a similar pricein order to capture a large slice of this mainstream market.By introducing th

17、ese models,manufacturers also hope tostymie the competitive threat from Chinese rivals,whosesuccess in the domestic BEV B-segment could potentiallybe replicated internationally.For example,Citron is planning to launch the-C3 insummer 2024,the first compact BEV built in Europe for aprice of less than

18、 25,000.A basic version for even lessthan 20,000 is planned for 2025.2Other similarly pricedmodels that will be launched on the market within the nexttwo years are the Renault 5 E-Tech and the VolkswagenID.2.3According to some reports,Tesla is also planning to startproductionofanewmass-marketelectri

19、cvehicle,codenamed“Redwood”,in mid-2025.4Chinese technology brands unveil BEVsTechnology companies continue to show interest in theBEV market.Indeed,the first electric car developed by theChinese company Huawei Technologies and BAIC Groupwill go on display in April at the 2024 Beijing InternationalA

20、utomotive Exhibition.The BEV is being built under the auspices of the HarmonyIntelligent Mobility Alliance(HIMA),an automotive allianceinitiated by Huawei.Under the terms of this partnership,Huawei not only delivers the automobile software but alsogets involved in vehicle design and marketing.The ot

21、herHIMA partners are Seres,Chery Automobile and AnhuiJianghuai Automobile Group.5Meanwhile,anothermajorChineseelectronicsmanufacturer,Xiaomi,has also launched a new BEV theSU7 sedan,which received around 100,000 pre-ordersduring its initial offering.6The company has previouslyannounced its ambition

22、to be one of the worlds top fivecarmakers.71.News and highlights 1 Transport&Environment,19 February 2024;2 Automobilwoche,8 January 2024;3kfz-betrieb,8 January 2024;4 Reuters,25 January 2024;5 Yicai Global,11 March 2024;6 Financial Times,2 April 2024;7 Reuters,28 December 2023;8 New York Times,27 F

23、ebruary 2024;9 CNN,11 January 2024;10 Wards Auto,27 March 2024;11 Autoflotte,11 March 2024Strategy&The country is one of the last developed countries toannounce such vehicle emissions standards.However,thetarget represents a reduction from the figure of 369 milliontonnes stated in the original draft

24、 bill.5Energy companies reassess prioritiesOil giants Shell and BP have both announced movesthat reflect falling demand for oil.Shell has revealed plans to divest 1,000 of its retail gasstations(including joint ventures)throughout the world bythe end of 2025.6The company aims to reallocate thesereso

25、urces toward EV charging stations“in response tocustomer needs”.The company currently has around54,000 EV public charging points,which it plans toincrease to 70,000 in 2025 and to 200,000 by the end of2030.Expanding its EV charging operations will involveboth expanding current Shell locations and fi

26、nding newsites.7Meanwhile,BP says that it will reduce the crude processingcapacity of its Gelsenkirchen oil refinery in Germany byaroundonethird from2025.The decision marksaresponse to strict environmental regulations,and to theaccelerating trend toward BEV sales.8In January this year,Shell announce

27、d that it was to close its oil refinery inWesseling,Germany,by 2025,and instead use the site toproduce lubricant feedstock,in line with the companysefforts to limit carbon emissions.95Mixed messaging from governments complicates global BEV expansionChina plans to stimulate BEV demandChina has announ

28、ced its intention to invite citizens totrade in and upgrade their consumer goods,formingpart of a plan to boost flagging domestic demand andreignitesustainedeconomicgrowth.Thetrade-inscheme is also set to act as a major stimulus to theelectric vehicle market.1Although the initial plan announcement w

29、as not rich indetail,there was a strong implication that consumers wouldbe offered incentives to trade in old cars for newer models,and for electric vehicles in particular.The governmentrevealed that more than seven million vehicles currently onthe road are more than 15 years old,so the trade-in sys

30、temwould be beneficial for the environment,safety and theeconomy.2USA and Australia both lower targetsBoth the United States and Australia have moderatedpreviously stated targets in a bid to placate resistancefrom the automotive industry and its workers.Themoves come in the wake of the United Kingdo

31、ms decisionto delay a ban on new petrol and diesel cars until 2035from the previous target of 2030.3It remains to be seenwhether the EU will follow this trend and soften its owntargets somewhat.The Environmental Protection Agency(EPA)in the US hasannounced that the new target seeks to cut emissions

32、by49%from 2026 to 2032,a reduction on the previouslystated 56%.Although the new rules will still entail dramatic emissionsreductions,they also allow for greater flexibility fromcarmakers in how they achieve targets.The focus will nownot just be on increased BEV sales,but also on theenvironmental con

33、tribution of hybrid vehicles and othertechnologies that save fuel,such as turbo-charging,lightervehicles or start-stop systems.The previously stated targetenvisaging that BEVs would represent 67%of car sales by2032 has thus been altered.The target is instead proposedas a wide range between 35%and 56

34、%of all salesbetween 2030 and 2032.41.News and highlights The Australian government has released rules to limit howmuch vehicles can pollute,with the declared goal of cuttingthe nations CO2emissions by 321 million tonnes by 2050.BEV penetration forecasts by the EPA in USA in%010203040506020272028202

35、9203020312032Higher BEV pathwayModerate(P)HEV pathwayHigher(P)HEV pathway1 China Daily,25 March 2024;2 The Times,6 March 2024;3 Reuters,21 September 2023;4 Reuters,20 March 2024;5 Carscoops,March 26 2024;6 Electrive,20 March 2023;7 Sustainability/Beat,21 March 2024;8 Yahoo Finance,22 March 2024;9 Re

36、uters,26 January 2024Strategy&-40-30-20-1001020304050607020182019202020212022202320242025Therefore,the more batteries that are produced in Europe,the more the overall trade deficit for batteries increases.In 2023,the EU trade balance for the combination of partsand accessories and lithium-ion batter

37、ies does still remainin surplus to a value of US$8.8 billion.Nevertheless,this isa marked reduction from an overall surplus of US$22.4billion in 2018.In our downside scenario,this pooled figurewill remain positive by US$3.0 billion in 2024 and thendecline to-US$37.1 billion due to a battery cell sho

38、rtfall inEurope of around 200 GWh.This significant shortfall isexpected to peak in 2025 due to the BEV production ramp-up.This situation is not irreversible however-it should improvein the longer term as Europe builds and strengthens a localend-to-end BEV supply chain.Increased recycling ofbatteries

39、 would also ensure that a higher share of rawmaterials remain in the EU.62.Analyst insights Ramp-up of BEV production threatens to end EUs trade surplus Given the reliance on China for cell raw materials,components and manufacturing equipment,the rapidexpansionofEU-basedBEVandbatterypackproduction i

40、s set to exert a negative impact on theblocs trade balance,at least in the short term.Chinas penetration of the European car market is alreadyincreasingly apparent.In 2023,it consolidated its positionas the primary source of car imports into the EU.Indeed,imports from China grew by 37%in value durin

41、g the year,achieving an EU market share of 18%.1Europe is alsoreliant on China for the rare earth metals used for some EVmotors China is responsible for 69%of the worlds totalproduction of such metals.2It is true that Europe does currently have a healthy tradebalance when it comes to vehicle parts a

42、nd accessories,with a surplus in this regard of around US$29 billion in2023,up from US$27 billion in 2018(see EU trade balancegraph).However,when one factors batteries into the calculation,the overall surplus seems increasingly vulnerable.This isbecause the EU trade deficit for lithium-ion batteries

43、 ismushrooming as cell production in Europe is ramped up.In2018,the relevant deficit was US$4.65 billion.But just fiveyears later,in 2023,that figure had more than quadrupled,to US$20 billion(see EU trade balance graph).To understand what drives this accelerating trend,we haveto analyze the battery

44、production process in Europe.TheEU imports most of its cell productionequipment.EU trade balance in$bn1ACEA Economic and Market Report:Global and EU auto industry Full Year 2023;2 StatistaSource:PwC Autofacts Analysis,UN ComtradeChina exports in$bnIt also imports almost all the raw materials and com

45、ponentsneeded for battery production,enabling European factoriesto manufacture and then export battery packs and systems.However,the export value of these value-added productsdoes not compensate for the cost of the imports required tomanufacture them.201820192020202120222023351134133316452850515365A

46、uto partsLi-ion batteriesExportImportTrade balanceUpside scenarioDownside scenarioLi-ion batteriesHSN850760Auto partsHSN8708Strategy&USASales Q1 2024Model96,729Tesla Model Y30,842Tesla Model 39,589Ford Mustang Mach-E8,017Rivian R1S7,743Ford F-150 Lightning7,040Chevrolet Bolt EV/EUV6,822Hyundai IONIQ

47、 56,167Volkswagen ID.45,800Cadillac Lyric5,607Tesla Model XTop BEV models in Q1 2024(sales volume ranking Q1 2024 vs.FY 2023)2.Analyst insights7Tesla Model Y remains on top,while domestic brands claim second placeEuropean Top 4Sales Q1 2024Model21,403Tesla Model Y11,092Peugeot E-2089,763Tesla Model

48、38,344Fiat 500e6,472MG 45,699Renault Megane Electric5,484BMW iX15,340Skoda Enyaq5,324Dacia Spring5,143Volvo EX30ChinaSales Q1 2024Model100,366Tesla Model Y70,319BYD Seagull46,992BYD Yuan Plus44,215Wuling Hongguang Mini EV38,271BYD Dolphin34,887BYD Qin Plus EV32,112Changan Lumin32,054Tesla Model 331,

49、152Wuling Bingo29,754Aion S45678910Source:PwC Autofacts Analysis,KBA,AAA Data,DGT,UNRAE,CPCA 0 5 1 1 1 4 7 5New 1 1 0 0 3 3 1 3 1 3 3 1 0 2 1 2 1New 3 1NewStrategy&83.Electric vehicle sales dataQ1 2024Q2 2024Q3 2024Q4 2024BYDSealion 07Hondae:NP2KIAEV3AudiA6 e-tronHongqieHS7CupraTavascanLucid Gravity

50、GeelyE8VinFastVF3Alfa RomeoMilano/JuniorRenault5Source:S&P Global Mobility Light Vehicle Production forecast,April 2024 ReleaseNew BEV launches drive market growthHyundaiIONIQ 9Strategy&Electric Vehicles(EVs*)9EV sales growth continuesKey Markets3.Electric vehicle sales data*EV=Battery Electric+Plug

51、-in Hybrids+HybridsSource:Local governmental or car association dataMar 23 vs.Mar 24(in 000 units)YTD Mar 23 vs.YTD Mar 24(in 000 units)01,0002,0003,0004,000Mar-23 YTDMar-24 YTD3,2623,896+19%05001,0001,5002,000Mar-23Mar-241,4121,619+15%WE 5+5ChinaUSAStrategy&Battery Electric Vehicles(BEVs)10BEV sale

52、s slow amid upcoming headwindKey Markets3.Electric vehicle sales dataMar 23 vs.Mar 24(in 000 units)YTD Mar 23 vs.YTD Mar 24(in 000 units)05001,0001,5002,000Mar-23 YTDMar-24 YTD1,5301,685+10%0250500750Mar-23Mar-24688732+6%WE 5+5ChinaUSASource:Local governmental or car association dataStrategy&Plug-in

53、 Hybrid Electric Vehicles(PHEVs)11PHEV sales surge in China and USAKey Markets3.Electric vehicle sales dataMar 23 vs.Mar 24(in 000 units)YTD Mar 23 vs.YTD Mar 24(in 000 units)02505007501,0001,250Mar-23 YTDMar-24 YTD6391,007+58%0100200300400500Mar-23Mar-24252408+62%WE 5+5ChinaUSASource:Local governme

54、ntal or car association dataStrategy&124.Western Europe Top 5 and other European marketsComparison to Q1 2023Q1 2024WE 5+5+0%363,000BEV+10%195,000PHEV-1%704,000Hybrid+1%1,261,000*Total EVEuropean Top 5:France,Germany,Italy,Spain,and UKBEV sales in the top 5 European markets grew by 1.6%in first quar

55、ter of 2024 whencompared with the same period last year.Looking beneath this headline figure,we see verydifferent performances in the constituent countries.BEV sales grew in France and the UK by23.0%and 10.6%respectively,but fell in Germany,Spain and Italy by 14.1%,16.4%and18.5%respectively.In the c

56、ase of Italy,it could be that consumers are waiting for newlyannounced government purchase incentives planned for later in the year.Prior to this quarter,trends in France,Germany and the UK were broadly following a similartrajectory.However,the market shares in Q1 revealed a significant gap 17.9%in

57、Franceand 15.5%in the UK,but only 11.7%in Germany.Indeed,for the first time,the UK overtookGermany in the absolute number of BEV sales(84,000 vs.81,000 in Q1 2024).The diverging trends can be attributed to several factors.In Germany,the BEV subsidyprogram was abruptly ended at the end of 2023 due to

58、 budget cuts.BEV purchaseincentives in France remain in place,albeit reduced.However,incentives for BEV leasingfor low-income consumers were also introduced at the beginning of 2024.The purchase ofICE cars also carries a disincentive-vehicles emitting above 117 gCO2/km are subject to anecological ma

59、lus,an additional tax at the time of purchase that can reach up to 60,000 forvehicles emitting more than 193 gCO2/km.In the UK,meanwhile,OEMs must now ensure that 22%of their new car sales are zero-emission vehicles,or face significant fines.OEMs tailor their pricing and product availabilityaccordin

60、gly so that this target can be met.BEV market shares in Spain and Italy are significantly below their counterparts in NorthernEurope,at 4.6%and 3.0%respectively.However,hybrid market shares are the highest inthe EU top 5 36.3%and 38.2%respectively.Other European markets+5:AT,CH,NL,NO,SEThe only sign

61、ificant BEV sales growth in the other European markets in the first quarter of2024 was registered in the Netherlands,which saw an increase of 19.3%from the sameperiod last year.BEV sales in Sweden,Norway and Austria all fell,while Switzerlandenjoyed only a marginal increase.BEV market shares can be

62、viewed in three tiers Norwayway ahead at 90.2%,Netherlands and Sweden at 32.1%and 30.4%respectively,andSwitzerland and Austria at 18.2%and 17.1%respectively.The highest PHEV market shareis in Sweden,at 23.0%.Western Europe 5+5*Numbers may not add up due to roundingSource:Local governmental or car as

63、sociation dataStrategy&Comparison to Q1 2023Q1 2024USA+7%265,000BEV+70%88,000PHEV+46%320,000Hybrid+30%673,000Total EV13United States4.United StatesThe PHEV and hybrid segments were responsible for the bulk of EVsales growth in the United States in the first quarter of 2024,up by69.7%and 45.7%respect

64、ively from the corresponding period lastyear.By contrast,BEV sales increased by just 7.0%.Indeed,more hybrids were sold in Q1 2024 than BEVs(320,000 unitsvs.265,000).Hybrids have thus restored the upper hand over BEVs hybrid sales were higher in Q1 2022,but more BEVs were sold inQ1 2023.The hybrid m

65、arket share now stands at 8.6%,bolstered by a broadproduct offering and by consumers growing willingness to make acautious first foray into the EV market.It is likely that the BEV marketultimately stands to benefit from the success of hybrids.Onceconsumersaresatisfiedwithahybridproduct,theybecomepsy

66、chologically more amenable to the idea of a fully electric vehicle.Almost one in five vehicles(18.0%)sold in the United States are nowEVs either BEV,PHEV or hybrid.Source:Local governmental or car association dataStrategy&Comparison to Q1 2023Q1 2024China+15%1,057,000BEV+77%725,000PHEV+10%180,000Hyb

67、rid+31%1,962,000Total EV14China and other Asian countries4.China and other countries in AsiaChinaDomestic BEV sales in China increased by 14.8%in the first quarter of 2024 incomparison with the same period in 2023.However,this growth is dwarfed bythe rise in the PHEV market,where sales continued to

68、flourish,up by 76.7%fromQ1 2023.The success of the PHEV market can be attributed to a proliferation ofproduct offerings,aggressive pricing,and increased electric driving ranges,whilelingering uncertainty about charging infrastructure discourages some consumersfrom going one step further to purchase

69、a BEV.Due in large part to this PHEV upsurge,the total EV market grew by 31.2%in Q12024 YoY,whereas the ICE market declined by 4.3%.Exports of PHEV from China also mushroomed,up by 159.9%in Q1 2024 vs.Q1 2023.BEV exports rose by 7.3%.JapanJapans BEV sales decreased by 30.1%in Q1 2024 vs.Q1 2023.BEV

70、marketshare stands at just 1.3%.However,it should be noted that sales of ICEs fell bya more significant 34.4%in the same period.The EV market is almostcompletely dominated by the sale of hybrids,whose market share has nowgrown to 63.9%.South KoreaBEV sales in South Korea fell by 29.5%in Q1 2024 in c

71、omparison with the sameperiod last year.The hybrid market,however,continued to perform strongly,upby 40.9%YoY to secure a market share of 29.6%.Source:Local governmental or car association dataStrategy&EV registrations Mar-24 YTDWE 5+52,687,216Total registrations362,781of which BEV1,261,048EV regist

72、rations194,692of which PHEV703,575of which HybridUSA3,743,491Total registrations264,749of which BEV672,570EV registrations87,641of which PHEV320,180of which HybridChina5,396,000Total registrations1,057,000of which BEV1,962,100EV registrations725,000of which PHEV180,100of which Hybrid155.Rankings82,0

73、%7,1%2,3%8,6%53,1%13,5%7,2%26,2%63,6%19,6%13,4%3,3%Shares of EV registrationsICEBEVPHEVHybridSource:Local governmental or car association dataStrategy&166.Electrified vehicle assembly forecastElectrified vehicle assembly forecast by region02550752024F2029F33.164.7+96%1Western+Central EuropeChinaNAFT

74、AAsia-Pacific(w/o China)RoWElectrified Vehicle Assembly by Region2024F vs.2029F(in million units)024682024F2029F4.87.1+48%3Plug-In Hybrid Vehicle Assembly2024F vs.2029F(in million units)0102030402024F2029F13.336.7+176%2Battery Electric Vehicle Assembly2024F vs.2029F(in million units)05101520252024F2

75、029F15.020.9+39%4Full and Mild Hybrid Vehicle Assembly2024F vs.2029F(in million units)Source:S&P Global Mobility Light Vehicle Production Powertrain forecast,April 2024 ReleaseStrategy&010203040506070201920202021202220232024F2025F2026F2027F2028F2029F-2002040608010012017Electrified vehicle assembly f

76、orecast6.Electrified vehicle assembly forecast5Global Electrified Vehicles Assembly by Powertrain Type2019 2029F(in million units,percent)BEVPHEVFHEV+MHEVBEV GrowthPHEV GrowthFHEV+MHEV GrowthSource:S&P Global Mobility Light Vehicle Production Powertrain forecast,April 2024 ReleaseStrategy&QuarterLau

77、nchModelBrandQ32024Milano/JuniorAlfa RomeoQ42024A6 e-tronAudiQ22024Sealion 07BYDQ22024VistiqCadillacQ22024Qiyuan E07ChanganQ22024ChargerDodgeQ22024PandaFiatQ42024e:NP2HondaQ32024IONIQ 9HyundaiQ22024EV3KIAQ42024GravityLucidQ22024C-CUVLynk&CoQ22024EQGMercedes-BenzQ22024AcemanMiniQ220245Renault18Overvi

78、ew:BEV modellaunches2024(not exhaustive)7.Electric vehicle model launchesSource:S&P Global Mobility Light Vehicle Production forecast,April 2024 ReleaseStrategy&19Overview:BEV modellaunches20252028(not exhaustive)7.Electric vehicle model launchesSource:S&P Global Mobility Light Vehicle Production fo

79、recast,April 2024 ReleaseLaunchModelBrand2026NSX EVAcura2026GiuliaAlfa Romeo2026Q2 e-tronAudi2026iX5BMW2025Song MAXBYD2027LuminChangan2026MonzaChevrolet2027C4Citroen2028SanderoDacia2029HornetDodge2028RomaFerrari2028500Fiat2029EverestFord2028Geome EGeely2028GV80 CoupeGenesisStrategy&LaunchModelBrand2

80、026E-QM5Hongqi2026IONIQ 8Hyundai2025EV2KIA2027DefenderLand Rover2026ExigeLotus2027CX-5Mazda2025AMG GT-4Mercedes-Benz2025BingoMG2025PajeroMitsubishi2028ET7NIO2029InsigniaOpel2025718Porsche2027WRXSubaru2025Model 2Tesla2026ID.2Volkswagen20Overview:BEV modellaunches20252028(not exhaustive)7.Electric veh

81、icle model launchesSource:S&P Global Mobility Light Vehicle Production forecast,April 2024 ReleaseStrategy&LegendMoY=Month-on-Year QoY=Quarter-on-Year YoY=Year-on-YearYTD=Year-to-Date21Electric vehiclesales dataGermany,UK,France,Italy,Spain,WE-58.Electric vehicle sales dataSource:PwC Autofacts Analy

82、sis,KBA,SMMT,PFA,ANFIA,ANFAC,SCB,OFV,RAI,auto-schweiz,Statistik Austria,CAAM,CPCA,JADA,ODMD,MoRTH,ABVE,FCAI,GAIKINDO,PZPMMoYJan-24MoYFeb-24MoYMar-24QoYQ1-24YTDYoYMar-23YTDMarket ShareMar-24YTD36.9%20,01731.8%25,82410.8%33,94123.0%79,78223.0%64,85917.9%79,782BEV2.4%10,54511.8%11,7383.7%16,2915.6%38,5

83、745.6%36,5128.7%38,574PHEV29.8%33,78641.6%41,24429.6%49,90833.4%124,93833.4%93,67928.1%124,938Hybrid26.3%64,34833.1%78,80618.0%100,14024.7%243,29424.7%195,05054.7%243,294Total EV-5.0%57,936-4.8%63,792-18.4%79,884-10.7%201,612-10.7%225,83845.3%201,612OtherFrance23.9%22,474-15.4%27,479-28.9%31,384-14.

84、1%81,337-14.1%94,73611.7%81,337BEV62.6%14,39422.3%14,575-4.5%16,01619.8%44,98519.8%37,5456.5%44,985PHEV24.3%52,10216.4%54,792-0.3%67,03311.3%173,92711.3%156,23625.0%173,927Hybrid29.1%88,9705.9%96,846-10.7%114,4334.1%300,2494.1%288,51743.2%300,249Total EV12.9%124,5835.0%120,542-2.5%149,4114.3%394,536

85、4.3%378,30156.8%394,536OtherGermany-11.1%2,9613.0%5,007-34.4%5,357-18.5%13,325-18.5%16,3563.0%13,325BEV-33.0%4,085-16.5%4,662-22.1%5,668-24.0%14,415-24.0%18,9653.2%14,415PHEV14.3%53,86216.1%55,4308.3%62,79812.6%172,09012.6%152,83838.2%172,090Hybrid7.7%60,90811.9%65,0990.6%73,8236.2%199,8306.2%188,15

86、944.3%199,830Total EV12.8%81,01013.5%81,980-7.1%88,1565.1%251,1465.1%238,90855.7%251,146OtherItaly-13.1%3,375-8.5%3,804-24.6%4,203-16.4%11,382-16.4%13,6174.6%11,382BEV11.3%4,57815.1%5,563-7.4%5,5595.0%15,7005.0%14,9536.4%15,700PHEV25.7%26,45125.0%28,62516.1%33,90321.7%88,97921.7%73,14336.3%88,979Hyb

87、rid18.5%34,40419.1%37,9927.1%43,66514.1%116,06114.1%101,71347.4%116,061Total EV-2.0%34,2813.0%43,356-12.9%51,175-5.2%128,812-5.2%135,85052.6%128,812OtherSpain21.1%20,93521.8%14,9913.8%48,38810.6%84,31410.6%76,23015.5%84,314BEV31.1%11,94429.1%6,09836.7%24,51734.0%42,55934.0%31,7657.8%42,559PHEV-54.7%

88、18,744-50.3%10,801-52.1%44,550-52.5%74,095-52.5%156,05113.6%74,095Hybrid-23.8%51,623-17.8%31,890-25.4%117,455-23.9%200,968-23.9%264,04636.8%200,968Total EV42.0%91,25348.6%52,99653.7%200,33149.7%344,58049.7%230,21463.2%344,580OtherUK21.8%69,7625.0%77,105-8.8%123,2731.6%270,1401.6%265,79811.3%270,140B

89、EV18.4%45,54613.5%42,6366.8%68,05111.8%156,23311.8%139,7406.6%156,233PHEV4.2%184,94513.2%190,892-9.7%258,1920.3%634,0290.3%631,94726.6%634,029Hybrid9.9%300,25311.1%310,633-7.3%449,5162.2%1,060,4022.2%1,037,48544.5%1,060,402Total EV13.6%389,0639.3%362,6666.4%568,9579.2%1,320,6869.2%1,209,11155.5%1,32

90、0,686OtherWE 5Strategy&LegendMoY=Month-on-Year QoY=Quarter-on-Year YoY=Year-on-YearYTD=Year-to-Date22Electric vehiclesales dataSweden,Norway,Netherlands,Switzerland,Austria,WE 5+58.Electric vehicle sales dataMoYJan-24MoYFeb-24MoYMar-24QoYQ1-24YTDYoYMar-23YTDMarket ShareMar-24YTD2.8%2,823-2.7%3,322-8

91、.2%4,657-3.9%10,802-3.9%11,23517.1%10,802BEV20.6%1,4694.6%1,335-22.2%1,477-2.5%4,281-2.5%4,3926.8%4,281PHEV8.7%4,06927.5%4,69117.9%6,19918.0%14,95918.0%12,68223.6%14,959Hybrid8.5%8,36111.7%9,3480.8%12,3336.1%30,0426.1%28,30947.5%30,042Total EV-17.5%9,19111.9%10,662-5.0%13,368-4.4%33,221-4.4%34,74352

92、.5%33,221OtherAustria69.4%9,54119.5%9,092-0.8%14,01619.3%32,64919.3%27,36732.1%32,649BEV22.0%4,9810.5%4,291-5.3%4,9694.7%14,2414.7%13,59814.0%14,241PHEV10.5%10,115-19.0%9,022-43.4%10,450-23.7%29,587-23.7%38,76329.0%29,587Hybrid30.6%24,637-2.7%22,405-22.2%29,435-4.1%76,477-4.1%79,72875.1%76,477Total

93、EV-29.3%9,75661.5%7,932-1541.7%7,68439.6%25,37239.6%18,17824.9%25,372OtherNetherlands281.3%4,7177.5%6,647-48.2%8,709-17.2%20,073-17.2%24,23190.2%20,073BEV-48.4%94-71.6%148-74.3%215-70.3%457-70.3%1,5402.1%457PHEV-37.6%164-23.2%312-53.2%557-44.5%1,033-44.5%1,8604.6%1,033Hybrid195.8%4,9750.0%7,107-49.7

94、%9,481-22.0%21,563-22.0%27,63196.9%21,563Total EV-17.4%147-17.0%273-49.0%269-33.4%689-33.4%1,0343.1%689OtherNorway17.0%5,068-15.6%5,244-33.7%8,381-19.4%18,693-19.4%23,18930.4%18,693BEV18.2%4,09516.5%4,5000.3%5,5569.9%14,1519.9%12,87123.0%14,151PHEV15.1%2,059-0.6%2,158-39.5%2,073-14.9%6,290-14.9%7,38

95、810.2%6,290Hybrid17.1%11,222-2.8%11,902-25.9%16,010-9.9%39,134-9.9%43,44863.6%39,134Total EV15.7%6,5878.2%7,348-9.4%8,4712.6%22,4062.6%21,83436.4%22,406OtherSweden-16.8%2,36426.8%3,295-1.0%4,7651.7%10,4241.7%10,25018.2%10,424BEV14.1%1,5823.9%1,753-6.4%1,9942.4%5,3292.4%5,2059.3%5,329PHEV-1.0%4,62024

96、.1%5,7805.2%7,2778.8%17,6778.8%16,24330.9%17,677Hybrid-3.7%8,56621.1%10,8281.2%14,0365.5%33,4305.5%31,69858.4%33,430Total EV-11.6%6,670-6.8%7,693-16.7%9,431-12.3%23,794-12.3%27,12141.6%23,794OtherSwitzerland27.3%94,2755.3%104,705-13.1%163,8010.2%362,7810.2%362,07013.5%362,781BEV18.3%57,76711.2%54,66

97、33.7%82,2629.8%194,6929.8%177,3467.2%194,692PHEV4.5%205,97211.6%212,855-11.3%284,748-0.7%703,575-0.7%708,88326.2%703,575Hybrid11.9%358,0149.7%372,223-9.9%530,8111.0%1,261,0481.0%1,248,29946.9%1,261,048Total EV10.7%421,4149.7%396,5746.8%608,1808.7%1,426,1688.7%1,312,02153.1%1,426,168OtherWE 5+5Source

98、:PwC Autofacts Analysis,KBA,SMMT,PFA,ANFIA,ANFAC,SCB,OFV,RAI,auto-schweiz,Statistik Austria,CAAM,CPCA,JADA,ODMD,MoRTH,ABVE,FCAI,GAIKINDO,PZPMStrategy&LegendMoY=Month-on-Year QoY=Quarter-on-Year YoY=Year-on-YearYTD=Year-to-Date23Electric vehiclesales dataAustralia,Brazil,China,India,Indonesia,Japan8.

99、Electric vehicle sales dataMoYJan-24MoYFeb-24MoYMar-24QoYQ1-24YTDYoYMar-23YTDMarket ShareMar-24YTD0.8%4,89370.4%10,11158.3%10,46446.4%25,46846.4%17,3968.4%25,468BEV123.7%980127.8%1,034148.2%1,412134.5%3,426134.5%1,4611.1%3,426PHEV91.2%9,821100.3%11,447165.6%13,935118.7%35,203118.7%16,09911.6%35,203H

100、ybrid50.5%15,69486.7%22,592107.7%25,81183.4%64,09783.4%34,95621.1%64,097Total EV-0.5%74,08810.2%82,431-1.2%83,8362.7%240,3552.7%234,04678.9%240,355OtherAustralia477.2%4,358470.4%3,639581.3%3,999505.9%11,996505.9%1,9802.5%11,996BEV129.1%3,910159.9%3,59472.7%3,752113.9%11,256113.9%5,2622.3%11,256PHEV8

101、4.1%3,75841.6%3,2188.0%3,48838.7%10,46438.7%7,5442.2%10,464Hybrid167.1%12,026143.4%10,45187.7%11,239128.0%33,716128.0%14,7867.0%33,716Total EV11.1%140,22125.5%145,060-8.5%164,9916.7%450,2726.7%422,15493.0%450,272OtherBrazil74.0%363,000-22.4%228,00011.3%466,00014.8%1,057,00014.8%920,87219.6%1,057,000

102、BEV130.6%265,70017.3%166,70091.2%292,60076.7%725,00076.7%410,30013.4%725,000PHEV21.6%65,000-19.9%43,00026.5%72,1009.7%180,1009.7%164,1793.3%180,100Hybrid83.8%693,700-10.6%437,70032.2%830,70031.2%1,962,10031.2%1,495,35136.4%1,962,100Total EV34.2%1,302,600-33.5%769,600-6.6%1,361,700-4.3%3,433,900-4.3%

103、3,586,64963.6%3,433,900OtherChina*107.9%7,24551.9%7,356-17.0%7,30027.9%21,90127.9%17,1271.7%21,901BEV0.0%330.0%35355.9%361213.8%1051213.8%80.0%105PHEV-12.7%26,692-16.3%26,546-29.4%26,586-20.1%79,823-20.1%99,9486.1%79,823Hybrid-0.2%33,971-7.2%33,937-27.0%33,922-13.0%101,830-13.0%117,0837.8%101,830Tot

104、al EV-10.1%399,3806.8%403,452-5.5%404,831-3.4%1,207,664-3.4%1,250,45592.2%1,207,664OtherIndia*683.6%2,335269.3%1,44493.3%2,140229.6%5,919229.6%1,7963.6%5,919BEV0.0%0-100.0%0-75.0%1-85.7%1-85.7%70.0%1PHEV106.3%4,73167.4%3,435110.5%4,69795.6%12,86395.6%6,5767.7%12,863Hybrid172.7%7,06699.5%4,879104.6%6

105、,838124.2%18,783124.2%8,37911.3%18,783Total EV-29.4%47,771-17.7%50,294-33.4%49,554-27.3%147,619-27.3%203,12288.7%147,619OtherIndonesia-40.5%2,033-29.3%2,540-23.8%3,921-30.1%8,494-30.1%12,1581.3%8,494BEV4.2%3,41027.6%4,622-3.9%5,3537.4%13,3857.4%12,4652.0%13,385PHEV14.8%124,1052.5%131,719-3.8%169,197

106、3.0%425,0213.0%412,54663.9%425,021Hybrid12.9%129,5482.3%138,881-4.4%178,4712.2%446,9002.2%437,16967.2%446,900Total EV-27.3%63,614-36.8%63,759-37.0%90,372-34.4%217,745-34.4%331,95232.8%217,745OtherJapan*BEV and PHEV sales based on CAAM data;hybrid sales based on CPCA wholesale data;*Partially estimat

107、edSource:PwC Autofacts Analysis,KBA,SMMT,PFA,ANFIA,ANFAC,SCB,OFV,RAI,auto-schweiz,Statistik Austria,CAAM,CPCA,JADA,ODMD,MoRTH,ABVE,FCAI,GAIKINDO,PZPMStrategy&LegendMoY=Month-on-Year QoY=Quarter-on-Year YoY=Year-on-YearYTD=Year-to-Date24Electric vehiclesales dataPoland,South Korea,Turkey,USA,Analyzed

108、 Markets8.Electric vehicle sales dataMoYJan-24MoYFeb-24MoYMar-24QoYQ1-24YTDYoYMar-23YTDMarket ShareMar-24YTD4.0%1,12022.3%1,373-10.6%1,6982.2%4,1912.2%4,1003.0%4,191BEV56.6%1,07927.7%1,291-1.8%1,37520.8%3,74520.8%3,1002.7%3,745PHEV48.3%19,94353.8%22,08422.7%22,81939.8%64,84639.8%46,40046.8%64,846Hyb

109、rid45.6%22,14250.1%24,74818.2%25,89235.8%72,78235.8%53,60052.5%72,782Total EV4.1%20,654-3.7%21,225-12.8%24,035-5.1%65,914-5.1%69,43147.5%65,914OtherPoland148.8%1,597-80.3%3,51216.0%20,180-29.5%25,289-29.5%35,8666.7%25,289BEV39.0%588-10.1%545-36.7%585-12.0%1,718-12.0%1,9530.5%1,718PHEV67.4%35,65041.1

110、%35,71423.6%40,40240.9%111,76640.9%79,29529.6%111,766Hybrid69.2%37,835-9.1%39,77119.9%61,16718.5%138,77318.5%117,11436.7%138,773Total EV-16.9%78,317-26.4%75,982-26.1%84,852-23.4%239,151-23.4%312,33363.3%239,151OtherSouth Korea398.4%3,524287.9%4,713220.1%5,903275.5%14,140275.5%3,7666.1%14,140BEV105.7

111、%109119.3%1933.9%18752.3%48952.3%3210.2%489PHEV137.1%10,15196.4%11,14330.8%11,24975.4%32,54375.4%18,55313.9%32,543Hybrid173.4%13,784130.1%16,04963.2%17,339108.4%47,172108.4%22,64020.2%47,172Total EV55.9%50,25727.5%66,2281.6%69,73221.9%186,21721.9%152,78179.8%186,217OtherTurkey3.7%81,317-6.9%81,71225

112、.0%101,7207.0%264,7497.0%247,4707.1%264,749BEV72.9%25,75963.2%28,56773.0%33,31569.7%87,64169.7%51,6562.3%87,641PHEV53.0%91,92959.7%105,91931.1%122,33245.7%320,18045.7%219,7078.6%320,180Hybrid29.8%199,00526.0%216,19832.7%257,36729.6%672,57029.6%518,83318.0%672,570Total EV-3.5%867,9025.0%1,022,3740.7%

113、1,180,6450.9%3,070,9210.9%3,044,47182.0%3,070,921OtherUSA50.3%565,697-13.0%449,1057.5%787,12610.9%1,801,92810.9%1,624,60111.6%1,801,928BEV93.7%359,33521.0%261,24460.4%420,87856.9%1,041,45856.9%663,8796.7%1,041,458PHEV20.1%597,75215.3%607,0802.1%771,55311.0%1,976,38411.0%1,779,73012.7%1,976,384Hybrid

114、43.7%1,522,7854.7%1,317,42913.1%1,979,55718.5%4,819,77118.5%4,068,21031.1%4,819,771Total EV8.4%3,466,218-8.9%3,096,979-4.6%4,122,728-2.1%10,685,926-2.1%10,919,41568.9%10,685,926OtherAnalyzed MarketsSource:PwC Autofacts Analysis,KBA,SMMT,PFA,ANFIA,ANFAC,SCB,OFV,RAI,auto-schweiz,Statistik Austria,CAAM

115、,CPCA,JADA,ODMD,MoRTH,ABVE,FCAI,GAIKINDO,PZPMStrategy&259.ContactsAuthors and PR contactFelix KuhnertPartner,Automotive Industry LeaderPwC GermanyPhone:+49 160 Steven van ArsdaleLead Analyst,PwC AutofactsPwC GermanyPhone:+49 151 Jrn NeuhausenSenior DirectorStrategy&GermanyPhone:+49 172 Annabelle Kli

116、esingSenior Manager Communications and Thought LeadershipStrategy&GermanyPhone:+49 171 Strategy&269.ContactsAutomotive contactsHarald WimmerGlobal Automotive Leader PwC Germany Phone:+49 170 786 Henning RennertEMEA Automotive LeaderStrategy&Germany Phone:+49 160 9555 Eiichi Yamanaka Automotive Leade

117、r JapanPwC JapanPhone:+81 90 6513 Jose Baghdad Automotive Leader France&Maghreb PwC France&MaghrebPhone:+33 6 0821 Jrg KringsAutomotive Leader Strategy&Germany Phone:+49 170 2238 Manuel Diaz Delgado Automotive Leader Spain PwC Spain Phone:+34 649 614 Jun Jin Automotive Leader China PwC China Phone:+

118、86 10 6533 Brian DeckerAutomotive Leader USA PwC USA Phone:+1 313 510 Marcus Hoffmann Automotive Practice Co-Lead Strategy&Germany Phone:+49 151 6784 Francesco PapiAutomotive Leader Italy Strategy&Italy Phone:+39 334 620 Yongwook JunAutomotive Leader South KoreaPwC South KoreaPhone:+82 2 709 7982yon

119、g-Cara HaffeyAutomotive Leader UK PwC UK Phone:+44 7809 551 2024 PwC.All rights reserved.PwC refers to the PwC network and/or one or more of its member firms,each of which is a separate legal entity.Please see for further details.Mentions of Strategy&refer to the global team of practical strategists

120、 that is integrated within the PwC network of firms.For more about Strategy&,see .No reproduction is permitted in whole or part without written permission of PwC.Disclaimer:This content is for general information purposes only,and should not be used as a substitute for consultation with professional advisors.Thank you