Electric Vehicle Sales Are Expected to Fall by 18% in 2020

With a decade-long upward trend in sales of electric vehicles boosted by the popularity of Tesla ‘s vehicles and other EVs like Nissan Leaf and Toyota Prius, automakers around the world have shifted their focus to building more battery-powered vehicles.

But the ongoing coronavirus pandemic has for the first time in a decade put a dent in the sales of EVs, disrupting the upward trend in sales.

According to new BloombergNEF (BNEF) study, sales of electric passenger vehicles are expected to decline by 18 per cent in 2020 to 1,7 million worldwide cars. BNEF is a leading primary research company in the fields of renewable energy, advanced transport and related sectors.

“The Covid-19 pandemic is likely to trigger a significant decline in global car sales in 2020. It raises tough questions about the priorities of automakers and their willingness to finance the transition. The long-term trend has not changed, but the market will be bumpy for the next three years,” said Colin McKerracher, BNEF ‘s head of advanced transport.

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