Title: Electric vehicle trends | Deloitte Insights
Headings: Electric vehicles
Electric vehicles Setting a course for 2030
Part 1 – Global progress and forecast
EVs in regional markets
Europe
China
United States
Rest of the world
2030 sales forecast
EV growth beyond 2030
Four factors driving growth
Factor 1 – Changing consumer sentiment
Factor 2 – Policy and legislation
Fuel economy and emission targets
City access restrictions
Financial incentives
Factor 3 – OEM vehicle strategy
Availability of models
Affordability of models
Factor 4 – The role of corporate companies
Part 2: New landscape, new approach
Segmenting the market
Use case: United Kingdom
Key behavioural differences
Customer Portraits: Driving a change in behaviour
Prioritise to drive purchases
The impact of COVID-19 on consumer behaviour
Checklist for the journey ahead
Established OEMs:
New-entrant OEMs:
Captive finance companies:
Dealerships:
Acknowledgments
Endnotes
Topics in this article
Global Automotive

Content: 9 This considerably eroded the consumer demand for EVs, and total yearly sales dropped: PHEV sales fell by 9 per cent and BEV sales fell to a 17 per cent growth rate from 2018 to 2019. 10 On a positive note, a slowdown in the sales of ICE vehicles in the region means that the EV market share in China actually increased. China’s slowdown in the second half of 2019 affected global EV sales figures, but neither the slashed subsidies nor the impact of COVID-19 should impact EV sales significantly in the long term. Chinese authorities announced they would refrain from more subsidy cuts in 2020. 11 Meanwhile, other incentives (for example, number-plate privileges in Tier 1 cities) remain, investment is being made in China’s charging infrastructure and there is a continued focus on encouraging Chinese manufacturers to produce and market EVs. As a result of the COVID-19 pandemic and lockdown measures in place, China saw a 45 per cent decline in passenger car sales in Q1 2020. 12 EV sales fell at a faster rate than the total market (by 56 per cent), as consumers stayed home and showrooms closed their doors. 13 But the rate of recovery has been swift. By March 2020, Chinese factories had recovered to achieve a production rate of 75 per cent, with 86 per cent of employees returning to work.