PLS (ASX) The definitive EV thread. No spin. No BS.

No spin. No BS.
Tesla sales are slipping, despite a new half-yearly record in new car sales.
Hybrid sales up, almost double from this time last year, as consumers shun EVs.

VFACTS June 2024: Soft finish for record half-year

The first half of 2024 set a record for new car sales in Australia, despite a drop in June.

A total of 632,412 new vehicles were sold in Australia in the first half of 2024, up 8.7 per cent year to date and surpassing the previous record of 605,522 sales set in the opening six months of 2018.

However, sales in June were down 4.2 per cent when compared with June 2023, though it was still the second-highest result in the month since 2019.

A total of 119,659 vehicles were sold throughout June 2024, with sales down in every state and territory bar the Australian Capital Territory.
An increase in government sales weren’t enough to offset declines across private, corporate and rental fleet buyers.

Though electric vehicle (EV) sales increased over the month prior, they were down 13.2 per cent on June 2023.

All up, EVs accounted for 8.0 per cent of new car sales in June, down from 8.8 per cent in June 2023.

Nevertheless, the Federal Chamber of Automotive Industries (FCAI) says it hopes for EVs to crack 100,000 sales in 2024.

EV sales year-to-date are up 16.5 per cent.

Hybrids and plug-in hybrids have recorded a significant increase in market share.
Combined, they accounted for 14.4 per cent of the market compared to 7.8 per cent in June 2023.

Year-to-date, hybrid and plug-in hybrid sales are up a whopping 114.6 per cent, driven largely by market leader Toyota.
“The end of the financial year has traditionally been a strong month for vehicle sales and achieving 632,412 sales in just six months is a testament to the resilience of the market,” said FCAI chief executive Tony Weber.

Brands
Toyota retains its mighty grip on the new car market, and though its sales were down 0.2 per cent on June 2023, its sales are up 31.5 per cent year-to-date.

Ford has edged past Mazda for second place, with sales up 22.4 per cent in June and 30.0 per cent year-to-date.

Mazda sales have dipped slightly, both for the month of June and for the first half of this year, but it has retained its podium position.

Kia is sitting in fourth, comfortably ahead of sister brand Hyundai which sits in sixth.

Mitsubishi is sandwiched in between the South Korean siblings, and has posted significant gains. Its sales were up 48.9 per cent year-on-year for the month of June, and are up 28.5 per cent year-to-date.

Sitting in seventh for the month is Tesla.
While that’s an impressive finish for a brand offering just two vehicles, its sales were down 33.3 per cent on June 2023, and they’re down 9.6 per cent year-to-date.

The top 10 was rounded out by Subaru, Isuzu Ute and Nissan.

https://www.carexpert.com.au/car-news/vfacts-june-2024-soft-finish-for-record-half-year

The cherry pickers will most likely point out BYDs 54.1% YTD increase in sales, and how amazing that is.
Really?
However, when you look at the bigger picture, BYD sales represent a mere 1.51% (of the 632,412), and not even worth talking about.