Electric vehicle sales are surging and could reach half of the automotive market soon, leading to a clear trend away from gas-powered vehicles
Questions to inspire discussion
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Are electric vehicle sales growing or slowing down?
—Electric vehicle sales are actually experiencing exponential growth, with a 100x increase in 10 years and no signs of deceleration.
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What is the future of the Global Automotive Market?
—The future of the Global Automotive Market looks like Tesla plus China, with companies slowing down their electric vehicle plans not representing reality.
Key Insights
- 📈 Electric vehicle sales saw a 113% increase, while internal combustion engine vehicle sales declined by 15% in 2021.
- 🚗 Electric vehicle sales roughly doubled from around 4.8 million to around 10 million units sold in a single year, increasing their share of the global vehicle market from roughly 6% to 12%.
- 🧠 Human beings don't intuitively understand exponential growth, and growth rates typically decline as the market scales into a new technology, which is why relying on intuition can be misleading.
- 📈 Electric vehicle sales are experiencing a 100x increase in 10 years, showing no signs of slowing down despite what is being reported in the news.
- 📉 The Narrative you're hearing about a Slowdown in electric vehicles is not representing reality.
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XMentions: @Tesla @stevenmarkryan @CathieDWood
Clips
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00:00 🚗 Electric vehicle sales are growing while traditional automakers are at risk, emphasizing the importance of verifying information before believing it.
- Automotive data shows a deceleration in electric vehicle sales growth, with traditional automakers at risk of missing the transition, and the importance of verifying information before believing it.
- Global vehicle sales show a significant increase in electric vehicle sales and a decline in internal combustion engine vehicle sales, with electric vehicles outperforming ICE vehicles in growth.
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01:56 🚗 Electric vehicle sales are surging and could reach half of the automotive market soon, leading to a clear trend away from gas-powered vehicles.
- Consumers are shifting away from internal combustion engine vehicles, with electric vehicle sales surging and potentially reaching half of the entire automotive market in the near future.
- Exponential growth led to peak gas-powered vehicle sales in 2017, with a clear trend towards electric vehicles.
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03:42 🚗 Legacy automakers are slow to transition to electric vehicles, but EV market share is surging despite misleading narratives about slowing sales growth.
- Legacy automotive manufacturers are slow to transition to electric vehicles, and many people fail to understand the nuances of disruptive innovation and adoption curves, which are not intuitive but rather an intellectual exercise.
- EV sales growth may appear to be slowing in percentage terms, but the actual market share is surging, and the narrative that EV sales growth is slowing is extremely misleading.
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05:53 🚗 Electric vehicle sales are growing exponentially, with the key question being whether the industry can continue to produce affordable EVs profitably, and the future of the Global Automotive Market looks like Tesla plus China.
- Electric vehicle sales are not slowing down and are actually experiencing exponential growth, with a 100x increase in 10 years and no signs of deceleration.
- The auto market is not a monolith, with different vehicle segments and price points coming into play as electric vehicles approach 100% of the market, and the key question is whether the industry can continue to produce increasingly affordable EVs profitably.
- Companies slowing down their electric vehicle plans are not representing reality, and the future of the Global Automotive Market looks like Tesla plus China.
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Duration: 0:13:14
Publication Date: 2024-04-15T10:32:06Z
WatchUrl: https://www.youtube.com/watch?v=cadjznQzrAs
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