The numbers are in.The sales of electric vehicles (EV) declined globally in the fi rst quarter of 2024, according to auto majors Volkswagen (VW), Mercedes-Benz (MB), and Tesla. However, the BMW Group has reported growth in the same period.VW reported a 3% drop, while MB reported an 8% decline in EV sales yet a 6% increase for plug-in hybrids (PHEVs), and Tesla reported its fi rst-ever year-on-year sales decline since 2020.
The BMW Group are up 28% compared to the same period in 2023.Hiten Parmar, Executive Director of The Electric Mission, tells FORBES AFRICA that the EV slowdown quotes are overstated, mainly regional, and brand-specifi c but notes the impact of seasonal statistics for the calendar period. Parmar cites the International Energy Agency’s latest Global EV Outlook 2024 report that says EV sales grew by 25% in the fi rst quarter of 2024 when compared to the same period in 2023.
“The number of EVs sold globally in the fi rst three months of this year is roughly equivalent to the number sold in all of 2020,” says Parmar.Certain regions are revising their policies and support mechanisms for EVs to which the market sales have reacted within these segments, he adds.
“Geopolitics are also at play within the automotive trade, which is evident on the Chinese EV brands within Europe and the US.”
“In South Africa, the reports are still showing progressive growth on the EV market,” says Parmar, and EV sales for new vehicles have continued to increase year-on-year.
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The Global EV Outlook 2024 report also notes that South Africa has the second-highest proportion of fast EV chargers to slow chargers at Akabor53%, behind New Zealand at 75%.According to Naamsa, the Automotive Business Council, 330 Battery EVs (BEV) have been sold in South Africa in Q1 2024, compared to the 232 sold in the same period last year.
The figure reflects 35% of the 931 total BEVs sold in 2023.
“Global OEMs (original equipment manufacturers) have also announced new EV model introductions into South Africa, which is also an indication that the EV market will still remain progressive,” he says.
South Africa is expected to receive competitively-priced EVs in 2024 from Chinese manufacturers like Omoda and Jaecoo – both sub-brands of the Chery Group; Build Your Dreams in the form of the Dolphin, which is expected to be the cheapest – or least expensive EV in South Africa; and JAC’s introduction of the first double cab electric bakkie.
Other EVs headed our way include models from Audi, Fiat, Lotus, Maserati, Mini, Volvo and VW.
One model in particular stands out as the best-seller for Q1 2024– the Volvo EX30, with 82 units sold. A total of 500 units have been allocated to the local market.
With a starting price of R775 900 ($), the EX30 features a minimalist cabin similar to a Tesla Model 3 with a 12.3-inch large display for all controls in the vehicle.
Aimed at a tech-savvy crowd, there are no buttons, switches or physical controls, except for what’s on the steering wheel. The giant touch screen is used for everything else, including the speedometer as there is no instrument cluster behind the steering wheel.
The EX30 is Volvo’s cheapest EV and fastest car, which can go from 0-100km/h in a mere 3.7 seconds on the 315kW Twin Motor Performance model.
Despite the EX30’s somewhat positive outlook for South Africa, the country has yet to see a convincing policy framework to get EVs out of its less than 1% market share since EVs were first introduced in 2013, says Parmar.
With reference to South Africa’s 2024 budget speech, Naamsa CEO Mikel Mabasa says a notable component was Finance Minister Enoch Godongwana’s introduction of an investment allowance for new EV investments, set to commence in March 2026.
But Parmar says: “African countries could soon begin to surpass South Africa’s EV market share, whilst also establishing local EV production in their regions as they aim to participate within the global value chain of the automotive sector.”
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