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Is the EV market really on the decline?

Author
Newstalk ZB,
Publish Date
Wed, 13 Nov 2024, 12:35pm
Photo / Getty Images
Photo / Getty Images

Is the EV market really on the decline?

Author
Newstalk ZB,
Publish Date
Wed, 13 Nov 2024, 12:35pm

Is the electric vehicle market really dying?  

Nissan is axing over 9,000 jobs as sales slump in China and the US and Toyota has said that the California regulations around EVs and emissions are unworkable. 

EVs are being discounted by a third in Britain as manufacturers rush to meet their end-of-year sales targets.  

In New Zealand, October saw the second strongest month when it comes to car sales, but despite heavy discounting, EV sales have slid backwards. 

BYD NZ General Manager Warren Willmot told Kerre Woodham that globally, EV sales are actually up around 30% in September, with China contributing heavily to the market. 

He said that last month, 53% of all new cars in China had a plug, whether they’re plug-in hybrids or fully electric.  

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