Electric vehicle sales rose at full speed for European automakers in 2020. This is where Tesla stands

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Sales of EVs by European automakers accelerated rapidly in 2020, amid an accelerating push to increase EV adoption by governments offering generous incentives to switch gasoline consumers to more alternatives. clean. The COVID-19 pandemic wreaked havoc on car sales, and the European Association of Automobile Manufacturers reported that passenger car registrations fell 25.5% in the first 11 months of 2020 compared to 2019.

But electric vehicles have been highlighted by car companies. Volkswagen VOW, -0.54% reported on Tuesday that it delivered 212,000 electric cars worldwide in 2020, 158% more than the previous year. That figure includes the delivery of 134,000 battery electric vehicles, representing a growth of 197% compared to 2019. Volkswagen also said that its ID.3 model was the best-selling car in Sweden in December 2020 in absolute numbers. , and that all- Volkswagen electric vehicles ranked first in the Netherlands and Germany, with about 23% of each country’s battery electric vehicle market. Daimler DAI, owner of Mercedes-Benz, + 1.71% said on January 8 that the brand sold more than 160,000 plug-in hybrids and fully electric vehicles in 2020, representing a growth of more than 228% since 2019. Electric vehicles increased drastically as a share of all cars sold by Mercedes-Benz, from 2% in 2019 to more than 7% in 2020. BMW BMW, + 0.78%, which also owns Mini, said Tuesday that the two brands sold a combined total of 192,646 electric vehicles in 2020 – an increase of almost 32% from 2019. In France, Renault RNO, + 1.74% reported on Tuesday that it doubled its sales of electric vehicles in the European market in 2020, selling 115,888 vehicles and representing more than 100% growth since 2019. The company also reported that its total orders as of the end of December 2020 were up 14% compared to last year, which it attributed to its new hybrid offerings. Read also: Renault says it will create a French company with Plug Power Meanwhile, electric car maker Tesla TSLA, + 4.72% delivered 96,000 units to Europe in 2020, according to automotive analyst Matthias Schmidt, as reported by the Financial Times. Much of the global growth in the popularity of electric vehicles comes from Europe itself. According to a report by consulting firm McKinsey in July 2020, Europe cushioned a broader global decline in electric vehicle sales during the year. According to McKinsey, EV sales were steady in China in 2019, dropping 57% in the first quarter of 2020, while EV sales were down 12% in the US in 2019 and 33%. more in the first quarter of 2020. -Vehicle sales in 2019 increased by 44% and 25% at the beginning of last year. Plus: Tesla and Nio shares get target price hikes European governments have added generous incentives for consumers to buy electric vehicles, and both Germany and France offer lucrative subsidies for car buyers choosing electricity. In Germany, buyers can save up to € 9,000 ($ 10,940) on the purchase of new electric vehicles. France offered incentives of up to 7,000 euros in 2020, but will cut them to 6,000 euros in 2021. Beyond meeting consumer demand, European carmakers are also being pressured to make more electric vehicles by the threat of hundreds of millions euros in fines. of the European Union on binding emissions targets. Phased in through 2020 and continuing through 2021, the fleet-wide average emissions target for new cars should be 95 grams of carbon dioxide per kilometer, which is around 4.1 liters of gasoline per 100 kilometers.