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Europe and Asia to drive Tesla sales forward.
Long-term EV market not in doubt; Tesla’s share of it yet to be determined.
Macro trends for renewable energy will be closely mirrored by EV sales.
European auto manufacturers going all-out for EV production.
The latest figures for sales emphasise the fact that Tesla (NASDAQ:TSLA) is likely to continue to grow exponentially in Europe and Asia. This will happen to EVs in general as ranges increase and prices fall. The prospects for Tesla in the USA are good short term on the back of Model 3 reservations. However, the Trump Administration’s anti-environmental approach may have some negative consequences in the medium term. All the major countries in Europe and Asia have signed up for the Paris Climate Accord. The withdrawal of the USA though will probably have a knock-on effect for EV sales there.
EVs – The Big Picture.
There are those in the US who still deny the future potential of EVs (electric vehicles ). Theirs seems to be an argument against the facts. The cautious recent forecast of Bloomberg New Energy Finance illustrates this. They predict that by 2040, EVs will constitute 58% of all auto sales worldwide. This figure was up from a previous estimate of 35%. The figure will be 67% in Europe and 51% in China. They did put in the rider that recent measures by the Trump Administration might slow down the U.S. take-up rate. They may of course be wrong in their prediction, as a prediction is only a prediction.
The report from Bloomberg also estimated that ion battery prices would fall over 70% by 2030. By 2040, EVs will displace 8 million barrels of transport fuel per day and add 5% to global electricity consumption. Numerous other reports agree with this to varying degrees.
Already EV sales are moving forward in Europe and China. Recent figures show a rise of 28% so far this year in Europe. There are many indicators of this. Recent figures for China show that sales of plug-in hybrids and battery electric cars rose by 36% in the first 6 months of the year.