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Global EV car sales surge 63% in 2018

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Global sales of passenger car electric vehicles (EVs) jumped by 63% last year to top 2 million units for the first time, helped by surging sales of plug-in EVs in the US, according to data provided by EV-Volumes.

A total of 2.08 million plug-in EVs were delivered to customers in 2018, or 2.2% of total car sales, EV-volumes data shows. Of the total, 1.45 million were pure electric EVs and the rest were plug-in hybrid models, it said.

While China continued to dominate the outright number of EV sales last year, in the US Tesla’s new Model-3 became the world’s best-selling EV of all time, boosting total US EV sales by 81% year-on-year, the data shows.

China remains the engine of growth for passenger EVs, and thus the location of most displaced oil demand. EV sales in China rose 76% on the year in 2018, to make up just over half of global EV total, with 1.17 million vehicles sold.

In November, the International Energy Agency raised its estimate for the number of electric cars on the roads in 2040, predicting that the expected 300 million EVs on the roads globally in 2040 will displace 3.3 million b/d of oil demand growth.

S&P Global Platts Analytics forecasts that plug-in EVs, including plug-in hybrids, will account for nearly half of global auto sales by 2040, displacing some oil demand as a transport fuel and expanding the role of the electricity sector.

NORWAY LEADING EV CHARGE

Despite surging EV sales, the combined market share of plug-in EVs still remains a fraction of the global passenger vehicle market, the EV-Volumes figures show.

At the end of 2018, some 5.3 million plug-in EVs were on the road making up just 0.5% of world’s total light vehicle fleet, according to EV-Volumes.

Norway continues to enjoy the highest EV penetration level by far with more than 40% of light vehicle sales last year. Iceland, Sweden, and the Netherlands follow with EV sales penetration rates of 17.1%, 7.2% and 5.2% respectively, the data shows. Regionally, plug-in vehicle sales in Europe reached 408,000 units in 2018, 33 % higher than in 2017.

A number of oil market watchers believe the uptake of EV will outpace many of the more established estimates from forecasters such as the IEA.

Bank of America Merrill Lynch believes global oil demand growth will peak by 2030 due largely to the proliferation of EVs. Bloomberg New Energy Finance expects cost parity between EVs and conventional cars could be reached around 2025, spurring sales further.

As a result, the world’s switch from internal combustion engines to EVs will displace 7.3 million b/d of transport fuel by 2040, according to BNEF’s latest annual outlook.

Critics of bullish EV sales forecast, however, point to their current dependence on government subsidies in a number of key markets, production constraints for key battery minerals such as cobalt and the limitations of transmission and distribution grids to cope with increases in electricity demand.

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213 Comments on "Global EV car sales surge 63% in 2018"

  1. JuanP on Sun, 10th Feb 2019 7:37 am 

    Homophobic Davy “Juanita, where is your gay lover boney joe these days? LMFAO. Does your wife whore know about your gay fantasies?”

    Do you realize how ridiculous you sound? I have never met Boney Joe, fool! And, while I don’t have any gay fantasies, I don’t thin that there is anything wrong with that; only a homophobe would think that.

  2. JuanP on Sun, 10th Feb 2019 7:39 am 

    How many arguments have you lost today already, Davy? How many grammatical mistakes have you made today, Davy? For fuck’s sake, I’ve lost count! ROFLMFAO! I win, you lose, loser!

  3. Davy on Sun, 10th Feb 2019 7:41 am 

    Remember this triggered Juanita?

    “Boney Joe on Tue, 10th Jul 2018 7:15 pm
    https://peakoil.com/consumption/bernstein-oil-may-jump-past-150-on-chronic-underinvestment
    When I was a boy of 12, my next door neighbor of 16 asked my folks for permission for us to go camping. My parents agreed without a moments hesitation since Johnny was an Eagle Scout and, as Mom would say, he looked as beautiful as an angel. While camping, Johnny dropped his drawers and asked me to perform fellatio. Thinking this was a new game, I did as requested. It never happened again. The point being, homosexual acts are far more common then people imagine, and, no, it did not “scar” me for life nor affect me in the slightest.”

  4. Truth Buster on Sun, 10th Feb 2019 8:16 am 

    How soon Davy forgets about Pablo. Let me remind everyone what you had written. You recounted that you were in Forest Park in the City of St. Louis “tricking”. To gather up the courage to cruise the park trails and restrooms, you had consumed a quart of Ripple in 15 minutes. You subsequently passed out in the park and you fortunately awoke to find a stranger, Pablo, whom you identify as an ebony twink, painting your toenails. You went on to say how lucky you were. You could have found yourself robbed, sodomized, and dropped-off in East St. Louis.

    You are such a hypocrite, exceptionalistard.

  5. Truth Buster on Sun, 10th Feb 2019 8:25 am 

    My, my, how conveniently Davy forgets about Pablo. Let me remind everyone what you had written. You recounted that you were in Forest Park in the City of St. Louis “tricking”. To gather up the courage to cruise the park trails and restrooms, you had consumed a quart of Ripple in 15 minutes. You subsequently passed out in the park and you fortunately awoke to find a stranger, Pablo, whom you identify as an ebony twink, painting your toenails. You went on to say how lucky you were. You could have found yourself robbed, sodomized, and dropped-off in East St. Louis.

    You are such a hypocrite, exceptionalistard.

  6. JuanP on Sun, 10th Feb 2019 8:28 am 

    Homophobic Davy “Remember this triggered Juanita?”

    Yes, I do, homophobe! It is the comment Boney Joe wrote that I was referring to earlier, as you perfectly well know. It is a credit a credit to him that he writes about it and shares this experience with others; it is proof that he is way more developed and balanced a person than you will ever be. The fact that you have attacking Boney Joe about it ever since only proves what a thoroughly repulsive and disgusting person you are.

  7. Truth Buster on Sun, 10th Feb 2019 8:34 am 

    Davy is really grasping at straws in a pathetic moment of desperation. JunaP is to be commended for his emotional maturity.

  8. Davy on Sun, 10th Feb 2019 9:24 am 

    Called you out juanita, LOL. that didn’t take long. I knew one of your alternative personality socks would surface. How about some identity theft to make the lunatic activity complete:

    Truth Buster said Davy is really grasping at straws in a pathetic mo…
    Truth Buster said DavySkum’s middle name is “hypocrisy&#…
    Truth Buster said My, my, how conveniently Davy forgets about Pablo….
    Truth Buster said How soon Davy forgets about Pablo. Let me remind e…

  9. JuanP on Sun, 10th Feb 2019 10:15 am 

    Lying Davy “Called you out juanita, LOL. that didn’t take long. I knew one of your alternative personality socks would surface.”

    I don’t need to use sock puppets to win every argument against you, Davy, and I don’t. People simply see us for what we are and comment on that. I know this is impossible for you to accept because of your outrageous narcissism. LOL!

  10. Davy on Sun, 10th Feb 2019 11:03 am 

    “I don’t need to use sock puppets to win every argument against you, Davy”

    Juanita, did you see my comment below where I asked you to bring out your sock truth buster? LOL and then you did.

    Davy on Sun, 10th Feb 2019 7:55 am
    juanita, where is boney joe? Bring him out today. LMFAO. What about Mitch or Truth will Set you free? What about Father Sullivan? OH yea, truthbuster. You really are so boring. You think you can do this shit over and over and not be detected. More low IQ activity.

  11. Truth Buster on Sun, 10th Feb 2019 11:55 am 

    Why does DavyTurd lie so openly. Firstly, Truth Buster is NOT JuanP.

    “Juanita, did you see my comment below where I asked you to bring out your sock truth buster?”

    Nope, didn’t see it.

  12. Davy on Sun, 10th Feb 2019 12:04 pm 

    “Truth Buster said Why does DavyTurd lie so openly. Firstly, Truth Bu…
    Truth Buster said At least Davy is honest enough to acknowledge the…”

    JuanP, bring out boney joe..please. You are hilarious when you project your liberal personality through him that is just one of the many of your multiple personalities. You really are a colorful character if you were not such a dirty slut and low IQ.

  13. intellectual nematode Alert! on Sun, 10th Feb 2019 12:48 pm 

    Davy on Sun, 10th Feb 2019 12:04 pm
    Davy on Sun, 10th Feb 2019 11:03 am
    Davy on Sun, 10th Feb 2019 9:24 am
    Davy on Sun, 10th Feb 2019 7:41 am

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