{"id":148842,"date":"2024-09-19T12:37:13","date_gmt":"2024-09-19T11:37:13","guid":{"rendered":"http:\/\/www.spglobal.com\/mobility\/en\/research-analysis\/behind-the-headlines-oems-gently-braking-on-ev-investment.html"},"modified":"2024-09-19T12:37:13","modified_gmt":"2024-09-19T11:37:13","slug":"behind-the-headlines-oems-gently-braking-on-ev-investment","status":"publish","type":"post","link":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/2024\/09\/19\/behind-the-headlines-oems-gently-braking-on-ev-investment\/","title":{"rendered":"Behind the Headlines: OEMs gently braking on EV investment"},"content":{"rendered":"

The S&P Global Mobility AutoIntelligence service
\nprovides daily analysis of global automotive news and events. We
\ndeliver timely context and impactful analysis for navigating the
\nfast-moving industry. Behind the Headlines offers a bi-weekly dive
\ninto recent top stories.<\/em><\/p>\n

In 2024, sales of battery electric vehicles (BEV) settled to
\nsingle-digit growth. Though BEV demand continues to grow, the
\nmismatch between naturally progressing demand and automaker
\nforecasts set the world on edge.<\/p>\n

Given the billions invested and being deployed in the
\ntransition, concern is warranted. Volume has largely increased,
\nthough Tesla has seen softening demand for several of its products.
\nTesla's outsized share of BEV sales has a significant impact
\noutside of mainland China. At the same time BEV demand has entered
\nan inconsistent and choppy growth phase in most markets, mainland
\nChina automakers are making inroads with less expensive BEVs. The
\nability of some mainland Chinese automakers to offer lower-cost
\nBEVs and remain profitable has also set most other automakers on
\nedge, as BEV profitability remains elusive across the industry.<\/p>\n

A bright moment in US light-vehicle registrations saw an 18%
\nyear-over-year increase in battery electric vehicles (BEV)
\nregistered in July 2024, the highest of the year so far and above
\nthe 6.0% the overall market improved. The gain was supported by
\nincreasing incentives as well as having more models available at
\nhigher inventory levels. In July 2024, BEV share climbed to more
\nthan 8%. Year to date, BEV registrations are at 7.6%, versus 7.2%
\nat the same point in 2023. BEV registrations grew 8.6% in the
\nJanuary to July 2024 period; the total market has improved 2.5% in
\nthe same period.<\/p>\n

\"\"<\/p>\n

However, this pace is not what many automakers counted on when
\nmaking investment decisions in the 2020-2023 period and the first
\nhalf of 2024 was dominated by stories covering a perceived slowdown
\nin BEV demand. It is more accurate to say that BEV demand did not
\nmeet high projections than to say demand was slowing.<\/p>\n

However, in the first seven months of 2024 US light-vehicle
\nregistrations saw more growth in traditional hybrid-electric
\nvehicles (HEV). Plug-in hybrid electric vehicles (PHEVs) have
\nimproved as well, though that solution still sees slower adoption
\nthan either BEV or HEV. In July 2024, HEV registrations were at
\n10.4% of the total market and volume grew to just under 146,000
\nunits for the month, compared with about 121,000 BEVs being
\nregistered. In the January to July period, HEVs accounted for 9.2%
\nof all registrations.<\/p>\n

The transition to BEV as a dominant propulsion system is likely
\nto continue to be inconsistent. Availability in terms of inventory
\nand vehicle segments still lags behind traditional internal
\ncombustion engine vehicles, pricing is still higher than comparable
\nICE products, infrastructure does develop slowly, and there are
\nstill miles to go in terms of consumer education, awareness and
\nengagement. These issues take time to resolve.<\/p>\n

In the meantime, many automakers are revising timing for BEV
\ninvestment. BEV profitability remains elusive and there remains the
\nneed to support customers not ready to make the BEV switch, while
\nstill addressing regulations. In 2024, it has become obvious that
\nthe transition to BEV dominance will be inconsistent and less
\npredictable. HEV and PHEV will remain important for a longer period
\nthan some automakers were targeting.<\/p>\n

Automakers are adjusting their plans to ensure the right product
\nmix at the right time as well as managing capital investment
\ncarefully. BEV production targets have been cut in the immediate
\nterm, products canceled or delayed, longer-term BEV targets
\nadjusted, and capital investment re-timed. Automakers have not
\nabandoned the longer-term goal of zero emissions vehicles as part
\nof the path to a bigger goal for net zero carbon emissions.<\/p>\n

Ford and GM have both retimed BEV capacity development, delaying
\nwhen programs will come on line and how quickly capacity is being
\nincreased. Ford most recently cancelled two BEV three-row utility
\nvehicles in the Ford Explorer and Lincoln Aviator space and will
\nuse hybrid electric propulsion systems instead. GM lowered
\nproduction targets for 2024 and 2025 and delayed the retooling of a
\nBEV full-size truck plant. GM has not announced as many changes to
\nspecific product plans but is expected to have canceled or delayed
\nseveral projects internally as well. GM's Cadillac division has
\nstepped back from its plans to shift to an all-BEV lineup by 2030,
\nand now says it will offer the “luxury of choice” when it comes to
\npowertrains. GM has delayed opening of its planned fourth US
\nbattery plant to 2027, aligning with the delays in BEV production
\nplans, and its partner LG Energy Solutions is slowing development
\nof one of its US battery plant projects.<\/p>\n

Mercedes-Benz and Volvo Cars have also slowed some of their
\nexpectations for electrification. Volvo Cars dropped its forecast
\nfrom expecting 100% electrified powertrains (BEV or PHEV) in 2030
\nto between 90% and 100%. Volvo Cars does expect to see 50% of its
\nsales in 2025 be electrified vehicles, however. Mercedes-Benz is
\nincreasing investment in ICE projects to ensure its engines remain
\ncompetitive as the change to BEV has not come as quickly as it
\nexpected, and Mercedes-AMG has said it will maintain V8 engines
\nlonger than planned.<\/p>\n

On the other hand, Hyundai announced a major strategy update to
\ninvest billions more into electrification as well as targeting
\nannual sales of 5.5 million by 2030; by 2030, Hyundai expects 36%
\nof its global sales to be BEVs, though also planning an extended
\nrange BEV by late 2026 and not letting up on its goals for hydrogen
\npowertrains. After Hyundai announced plans to spend US$90 billion
\nover the next 10 years to support its initiatives, GM and Hyundai
\nannounced a memorandum of understanding to discuss potential
\npartnerships for platforms, electrified vehicles and BEVs. It is
\nfar too soon to know what will result from those talks. Yet, if the
\ntwo companies work together to reduce costs over the next decade,
\nthis could have a substantial impact on the market by making more
\naffordable electrified products available faster while the
\nautomakers potentially see profitability faster.<\/p>\n

Though a transition to zero emissions transportation remains a
\ncentral target, consumers are weighing in. In 2024, consumer
\npurchase behavior is causing automakers to rethink investment
\ntiming. The dynamics of this year reinforce the complex nature of
\nthe change to increasing BEV adoption, that consumers do hold
\nsignificant power along the way, and the importance of a nimble
\ncorporate strategy.<\/p>\n

Get a free trial of
\nAutoIntelligence<\/a><\/p>\n

\n\n

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The S&amp;P Global Mobility AutoIntelligence service
\nprovides daily analysis of global automotive news and events. We
\ndeliver timely context and impactful analysis for navigating the
\nfast-moving industry. Behind the Headlines offers a bi-weekly div…<\/p>\n","protected":false},"author":1748,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-container-style":"default","site-container-layout":"default","site-sidebar-layout":"default","disable-article-header":"default","disable-site-header":"default","disable-site-footer":"default","disable-content-area-spacing":"default","footnotes":""},"categories":[3267],"tags":[61,122,127,129,124,128,125,132,131,133,126,130,123,66,94,88,97,56,64,65,60,3344,3351,3357,3360,3335,3340,3362,112,3353,40,75,95,3350,3352,3356,3343,3359,3339,3345,3334,3341,104,3354,33,120,3358,3349,3337,3348,105,101,98,115,30,29,41,86,3342,3361,70,69,68,72,71,26,118,108,87,3355,46,55,48,52,54,51,50,83,3338,62,58,57,3336,109,35,3346,59,63,85,79,82,96,80,27,81,114,44,42,43,45,38,39,110,117,100,111,116,3300,73,89,90,92,91,93,84,78,37,102,34,36,77,67,74,99,113,3347,119,28,121,32,47,49,53,103,31,76],"class_list":["post-148842","post","type-post","status-publish","format-standard","hentry","category-car-or-automobile","tag-airpods","tag-anime","tag-anime-characters","tag-anime-cosplay","tag-anime-edits","tag-anime-merchandise","tag-anime-movies","tag-anime-news","tag-anime-recommendations","tag-anime-reviews","tag-anime-series","tag-anime-streaming","tag-animes","tag-app-store","tag-app-store-samsung","tag-appgallery","tag-appgallery-oneplus","tag-apple","tag-apple-music","tag-apple-tv","tag-apple-watch","tag-auto-financing-guide","tag-automobile-industry-news","tag-automobile-laws-and-regulations","tag-automobile-shows-and-expos","tag-automobile-specifications","tag-automobile-technology","tag-autonomous-vehicles","tag-bbc-sport","tag-best-cars-for-long-drives","tag-best-mobile-games","tag-bixby","tag-bixby-xiaomi","tag-car-accessories","tag-car-comparison","tag-car-customization-ideas","tag-car-insurance-advice","tag-car-interior-design-ideas","tag-car-maintenance-tips","tag-car-resale-value","tag-car-reviews","tag-car-safety-features","tag-champions-league","tag-city-cars","tag-cyberpunk","tag-cyberpunk-2077","tag-driving-tips-and-tricks","tag-eco-friendly-cars","tag-electric-vehicles","tag-family-cars","tag-fantasy-football","tag-fifa","tag-football","tag-formula-1","tag-fortnite","tag-free-fire","tag-free-mobile-games","tag-freebuds-pro","tag-fuel-efficiency-tips","tag-future-of-automobiles","tag-galaxy-a52","tag-galaxy-note-20","tag-galaxy-s21","tag-galaxy-watch-4","tag-galaxy-z-fold-3","tag-game","tag-games","tag-golf","tag-harmonyos","tag-highway-cars","tag-how-to-backup-iphone","tag-how-to-factory-reset-iphone","tag-how-to-reset-iphone","tag-how-to-restore-iphone","tag-how-to-unlock-iphone","tag-how-to-unlock-iphone-5","tag-how-to-unlock-iphone-6","tag-huawei","tag-hybrid-cars","tag-ios","tag-ipad","tag-iphone","tag-latest-car-models","tag-live-soccer","tag-lol","tag-luxury-cars","tag-macbook","tag-macos","tag-mate-40-pro","tag-mi-11-lite","tag-mi-home-security-camera-basic-1080p","tag-mi-home-security-camera-basic-1080p-huawei","tag-mi-smart-band-6","tag-minecraft","tag-miui","tag-mlb-scores","tag-mobile-game-design","tag-mobile-game-development","tag-mobile-game-marketing","tag-mobile-game-monetization","tag-mobile-games","tag-mobile-gaming","tag-nba-scores","tag-nba-standings","tag-nfl","tag-nfl-scores","tag-nhl-scores","tag-off-road-vehicles","tag-one-ui","tag-oneplus","tag-oneplus-9-pro","tag-oneplus-buds-pro","tag-oneplus-nord-ce-5g","tag-oxygenos","tag-p40-pro-plus","tag-poco-x3-pro","tag-pokemon","tag-premier-league","tag-pubg","tag-pubg-mobile","tag-redmi-note-10-pro","tag-samsung","tag-samsung-pay","tag-soccer","tag-sports","tag-sports-cars","tag-steam","tag-steeam","tag-top-10-anime","tag-valorant","tag-when-do-the-iphone-7-come-out","tag-when-does-the-iphone-7-come-out","tag-when-is-the-iphone-7-coming-out","tag-world-cup","tag-xbox-series-x","tag-xiaomi"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/148842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/users\/1748"}],"replies":[{"embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/comments?post=148842"}],"version-history":[{"count":1,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/148842\/revisions"}],"predecessor-version":[{"id":148843,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/148842\/revisions\/148843"}],"wp:attachment":[{"href":"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