Ann: Operational Update, page-119

....and another article from May - this one actually describing the media beat up of "declining EV sales around the world" and how the truth tells a different story! There are many articles like this shining a light on the misconceptions being put out there on "flagging EV sales" being an issue.....but I think enough of a point has been made on this being incorrect.

What Falling Sales? Global EV Sales Grew 23% in May! - CleanTechnica

EVs Now 20% of World Auto Sales

Global plugin vehicle registrations were up 23% in May 2024 compared to May 2023. There were 1.3 million registrations. BEVs were up by 17% YoY, while plugin hybrids jumped 37% YoY.

With all the talk in some media that EVs are going down, as mentioned above, the numbers show a different story. Plugins are growing at a steady pace — over 20% YoY — and even removing the fast growing Chinese market from the picture (which all by itself represents over 60% of all plugin vehicles sold this year), we still have growth. Albeit, those are more modest numbers, with plugins growing 6% YoY in May (7% for BEVs). But, YTD, the numbers are even better, +12% (+10% for BEVs).

And in news that might shock some, breaking down sales by the other large economic blocks, while Europe was indeed down by 10% in May (no doubt still a reflection of the end of subsidies in a number of markets), the North American market (USA + Canada) was actually up by 18% in May! The shock, the horror….

Even more shocking is the fact that the fastest growing EV markets sit outside China, Europe, and North America!

In fact, if we just discount the markets above, the EV market grew by an amazing 42% in May, which is faster than even China. The highlights are Mexico (+137% YoY), Brazil (+266%), Chile (+102%), Malaysia (+106%), Singapore (+136%), and … Russia (+549% YoY). Wait, what?!?!?!?!?