BNEF: 2019 worldwide will be sold 2.6 million electric cars

Bloomberg (BNEF) expects that in 2019 worldwide will be sold 2.6 million vehicles, which is about 40% more than in 2018.

According to the Agency, China will continue to lead the industry, and its market will have 1.5 million of sales of all electric vehicles, or about 57% of the world market.

However, the China market is in a transition phase, and a doubling of annual sales are unlikely to persist in 2019. The main factor is the reduction of government subsidies and the complexity of entering the Chinese market.

Changes will be observed in the markets of the USA and the UK, where direct subsidies for purchasing electric vehicles are also reduced. BNEF expects that European sales of electric cars will amount to less than 500 000 units, with strong sales growth in the Nordic countries and Germany. Sales in Italy were slow, but should show growth in 2019, while sales in the UK will probably remain the same or will decrease after the government refuses to support popular plug-in hybrid models.

According to BNEF, sales in North America will amount to about 425,000 units, compared to 405 000 vehicles sold in 2018 rather modest growth. At the conclusion of BNEF, the surge in sales of the Tesla Model 3 in the 2nd half of 2018 has led to growth in sales of electric vehicles, but to keep it will be difficult, if the market will not quickly rendered a cheaper model.

Cumulative sales in Japan and South Korea should be about 100 000 electric vehicles.

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