RACE ON: THE LINEUP FOR THE REVOLUTION OF THE CAR INDUSTRY

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.