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Toyota cuts 2023 EV sales forecast by nearly 40% in latest questionable strategy shift

Electrek

Although Toyota expects record growth this fiscal year, it’s cutting its EV sales forecast by nearly 40%. In Toyota’s latest questionable strategy shift, the company will lean into hybrids to “avoid the price competition” in the EV market.

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Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto

Baua Electric

Canada’s Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. Magna said it expects full-year 2024 sales of USD 42.6 billion to USD 44.2 billion to USD 45.4

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BYD Chairman forecasts falling profit margins in 2024

Teslarati

BYD Chairman Wang Chuanfu forecasts falling profit margins in 2024 but remains confident that the company will maintain stable profitability. BYD hopes to ensure stable profitability by improving sales. The company is aiming for a 20% sales growth this year. BYD sells pure battery electric vehicles (BEVs) and plug-in hybrids.

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Mercedes-Benz Cars tripled global sales of xEVs in 2020; 7.4% of sales

Green Car Congress

Mercedes-Benz experienced a sharp increase in xEV deliveries in 2020, with more than 160,000 plug-in hybrids and all-electric vehicles sold worldwide (+228.8%), including about 87,000 units in the fourth quarter alone. We more than tripled sales of our plug-in hybrids and all-electric cars.

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Benchmark: Lithium industry needs more than $116B to meet automaker and policy targets by 2030

Green Car Congress

Benchmark’s high case scenario forecasts that 7.0 With the amount of lithium production forecast by Benchmark for 2030, only 3.2 The US is targeting a 50% penetration rate of EVs (battery, plug-in hybrid, and fuel cell) in new sales by 2030. Globally, Benchmark’s Lithium ion Battery Database forecasts that 43.7%

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BNEF report: EV sales headed for 5.6M in 2021 as automakers target 40M per year by 2030

Green Car Congress

Passenger electric vehicle sales are set to jump more than 80% in 2021 to 5.6 In the first half of 2021, sales of passenger electric vehicles (including battery electric, plug-in hybrid and fuel cell vehicles) were 140% higher than the same period in 2019, reaching 7% of global passenger vehicle sales.

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Navigant forecasts global sales of electric drive buses to reach 181,000 in 2026

Green Car Congress

In a new report , Navigant Research forecasts that the global market for electric drive buses will grow from about 119,000 buses in 2016 to 181,000 in 2026. Electric drive buses of all types are expected to see steady sales growth over the next decade, driven by clean air legislation and government incentives.

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