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Just as global manufacturers are starting to roll out their first generation of dedicated electric vehicle platforms and plug-in hybrid powertrains, the regions of the world have been feeling the effects of COVID-19 one after the other. After a complete shutdown in demand and production in China in February 2020, Europe followed suit in March, while North America faced a similar situation by April.
Based on full-year total market declines estimated between 10 and 40%, electrified vehicles are expected to secure growing market shares due to dedicated customer demand and an expanded product offering. Targeted subsidies and sales support have proven highly effective in overcoming buyer objections and are expected to play a major role in post-crisis recovery programs, supporting economic, regulatory and environmental targets.
PwC Autofacts® and Strategy& have analyzed e-mobility sales worldwide in the first quarter of 2020.