The recent surge in fuel prices due to the war in Iran has spurred demand for electric vehicles around the world, and Chinese car makers are making the most of the opportunity.
The recent surge in fuel prices due to the war in Iran has spurred demand for electric vehicles around the world, and Chinese car makers are making the most of the opportunity.
There are around 290m cars in the us for the 330m people
There are around 420m cars in Europe for the 730m people
So while the actual amount of cars in all of Europe is more than the US the percent car ownership in a single country is insane
Than why don’t they buy foreign EV’s? There were options but now both Hyundai and Kia have stopped selling EV models last year solely in the US. In my opinion that makes the choice for BYD logical as these US established brands can’t even sell their EV’s.
They’re basically one company and they stopped importing EVs. They still build and sell plenty of new EVs in the U.S., made in their plants in the state of Georgia. They’re also currently expanding capacity at their plants, in the hopes of catching more of the growing electric SUV market.
So they no longer sell the top of the line trim level of the Kia EV6, or the Hyundai Ioniq 6, but they’re still building and selling very similar models on the same platform. The Kia EV6 still exists in the lower trim levels, and the Ioniq 6N and the Ioniq 5 and 5N, and their smaller EVs (Kia Niro, Hyundai Kona) are still available, too. Both brands launched their 3-row electric SUVs in the US, too (Hyundai Ioniq 9, Kia EV9).
A lot of companies are slowing down their EV rollouts, but I wouldn’t say that Hyundai/Kia is the best example of that.
Hyundai has pulled the ioniq 6 but the ioniq 5 and soon to be ioniq3 are sold in the USA still. Unless there was some news I missed. For Kia, Im not sure what their status is.
Kia pulled its EV6 GT, which basically did not sell well in the US. They only manufactured that particular top tier trim level in Korea, but the other EV6 trim levels continue to be manufactured and sold in the U.S. (Wind, GT-Line). Kinda stupid that they named their top of the line the GT and the one just below that the GT-Line, but brands can be stupid with naming schemes sometime.
My own opinion, they were too expensive and the EV charging network wasn’t built up enough to prevent people from feeling like the available range options weren’t large enough.
Still, the absolute number is what matters, still bigger market.
If you are making an ad campaign, all of the US speaks the same language, generally has the same safety regulations, and a much larger percent of the people are your target ad personnel
The EU is a cohesive unit for regulations but speak many different language and once you branch out of the EU to all of Europe you can see why there are huge advantages to advertising in the US.
So no it’s not the absolute number that matters
California is famous for having different safety regulations.
I don’t see how the percentage should matter, absolute numbers matter. You get money for every sale, if you sell to 1% or to 99% is irrelevant.
California is famous for having different emission regulations. They have an exemption from the national law that they’re allowed to make stricter emissions and gas mileage regulations. None of those should prove to be a burden for anyone who wants to sell a battery EV in California, because there’s no standard that applies only in California to EVs.
Imagine you owned a store, what seems better, having 40 customers come in and all of them buy or having 80 people come in and all use up time with a salesman and then only 45 people purchase. You would end up spending a much more significant amount of the sales revenue on the larger showroom and more staff. This isn’t my opinion this is why the American market has been prioritized, that and the fact that Americans spend more on cars per year
California has different emissions requirements (not safety) but since they are a strict upgrade to the rest of the US (and comparable to other int markets) as long as you follow their requirements all cars in the US can be sold without any contradictory requirements
A very common kpi used is to examine the success of a campaign in a per target demographic so having the much lower response rate is worse
The 80 people with 45 sells, hands down. You don’t need more showroom, showroom depends on the product. You don’t need more staff, they work on commission, and again are proportional to the inventory.
Let alone that the comparison is pointless, in Europe people who don’t want a car don’t go car shopping and don’t consume any imaginary resources. You are in a town of 80 people and 45 visit your store to buy a car instead of a town of 40 where all 40 buy.
Well this is a waste of my time so I will leave you with one final look up. How many cars are sold per year in the US compared to Europe?
Hint the answer is the US