Wherever you are in the world, it’s hard to deny
that 2020 was a challenging year - not least the
automotive sector. With car sales plummeting
amidst stay-at-home orders, consumers had a
chance to reflect on their environmental impact,
and as a result, electric vehicles are now more
desirable than ever. 2021 looks set to be the
biggest year yet, with huge launches from some
of the industry’s biggest players, helping to
create a greener planet for us all.
CHANGING CONSUMER ATTITUDES
Though there has been a seismic shift in electric
car adoption rates over the past decade, the
coronavirus lockdowns drastically changed the
way we work, travel, and play. Work from home
restrictions meant that our cars were less useful
than ever before, with 12% saying they’d give
up their car permanently to save money and
protect the environment. Many car dealerships
were forced to close for months on end, and car
buying ground to a halt, with sales plummeting
71 percent in China, 47 percent in the US, and
80 percent in Europe. Now, many consumers
are coming around to the idea of an electric
vehicle, which is not only more sustainable than
gas-powered vehicles but more economical
to run in the long-term. As a result, EV sales
almost doubled in some European territories
in 2020 despite the pandemic and its effect
on the economy and consumer confidence.
Thanks to generous government subsidies and
grants in some European territories, sales are
booming. Indeed, in Norway, electric vehicles
now account for a breathtaking 54% of the
market. However, it’s a different picture
in the United States with stunted growth.