A Rivian model takes 9th place in the BEV market in the USA in 2023
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A Rivian model takes 9th place in the BEV market in the USA in 2023
- Since 2022, the new American brand Rivian has been trying to establish itself in the American battery electric vehicles (BEV) market.
- Rivian aims to become a major carmaker of battery electric cars, like Tesla. Rivianheadquarter is in Michigan State (USA), in the town of Plymouth (which formerly gave its name to a Chrysler group brand). The company was created in 2009 and in 2017 acquired the Normal plant (Illinois) which belonged to the Japanese Mitsubishi Motors at the time when it worked closely with the Chrysler group. Rivian has R&D centers in California and England.
- In 2018, Rivian presented two battery electric concept cars, the R1T pickup and the R1S SUV. These models were marketed with a certain delay from 2022, first in North America, then the following year on other continents, including Europe. Each model has three different powers (408 hp, 710 hp, 764 hp), with a maximum range of 400 km, 500 km or 600 km depending on the power. Each model offers a distinctive sharp design, very different from that of Tesla.
- The company had set a sales target of 200,000 units per year worldwide before 2025. This target seems difficult to achieve given the growth recorded in 2023. Rivian will produce 50,000 battery electric vehicles this year compared to 20 000 units in 2022. But for the first time, the brand succeeded in 2023 in placing its R1S SUV in the Top 10 best-selling BEVs on the American market, which means that Rivian is finally considered by American customers as a brand like the others and that its notoriety is being built step by step.
The Tesla Model Y and Model 3 remain leaders in the US BEV market in 2023
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The Tesla Model Y and Model 3 remain leaders in the US BEV market in 2023
- We saw previously that the Tesla Model Y was the best-selling battery electric car in China and Europe and that it was number one in several European countries, all energies combined. In the US BEV market, the same situation is seen. And in this market, another Tesla, the Model 3 is second behind the Model Y. The two other high-end Tesla models (Model S and Model Model X taking seventh place and Model S taking tenth place. There are 20 Model Y for a Model S and 10 Model 3 for a Model S.
- Tesla actually sold 263,971 Model Y over the first 8 months of 2023 ahead of the Tesla Model 3 (148,068 units). As for the Tesla Model X, it was sold at 16,162 units and the Tesla Model S at 13,200 units.
- The other six places in the BEV Top 10 ranking are occupied by the American carmakers GM (Chevrolet Bolt), Ford (Mustang Mach E) and Rivian (R1S SUV), by the German VW (ID4) and BMW (i4) and the Korean Hyundai (Ioniq 5). The Chevrolet Bolt takes third place, far behind the Tesla Model Y and Model 3, with 45,170 units. The Chevrolet and Cadillac SUVs, as well as the Silverado pickup, achieve minimal sales with electric engines. The VW ID4 (23,576 units) comes in fourth place, which is a performance, but this model sells 10 times less than the Tesla Model Y. The Ford Mustang Mach E (22,785 units) does not achieve its objectives and even losing sales compared to last year. The Ford F Series Lightning is not even in the Top 10 BEVs for the first 8 months of 2023.
Tesla dominates the UK BEV market over 9 months 2023
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Tesla dominates the UK BEV market over 9 months 2023
-The United Kingdom purchased 238,541 battery electric vehicles (BEV) in the first 9 months of 2023, compared to 175,614 units in the first 9 months of 2022, which represents an increase of 36% over the period. Over the first 9 months of 2023, BEV sales represent 16% of the British market, a proportion comparable to the European one (EU + UK + Switzerland + Norway)
- The best-selling model in this category is the Tesla Model Y (28,177 units) which increases its sales by 36% compared to last year, but the most spectacular fact is the growth of the MG 4 whose sales have been multiplied by 30 and which takes second place in the ranking. This model was sold at 17,070 copies over the first 9 months of 2023, ahead of the Tesla Model 3 (11,454 units), Audi Q4 E-Tron (11,125 units), Polestar 2 (10,117 units) and VW ID3 (8,785 units). However, these five models only represent 36% of all BEV sales in the United Kingdom over the first 9 months of 2023, which means that this market is quite fragmented.
- We note that the Tesla Model Y is the leader in this BEV market as in Germany and France. We also note that no French model appears among the top 20 BEV sales on the British market.
- By brand, the UK BEV market is dominated by Tesla (17% of the BEV market). Behind, the Chinese brand MG, which holds 10% of the BEV market, is ahead of the German brands Volkswagen, BMW, Audi and Mercedes. Polestar is doing better than Volvo in this market. The leading French brand, Peugeot, is only fourteenth.
Tesla largely dominates the Norwegian BEV market over 9 months 2023
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Tesla largely dominates the Norwegian BEV market over 9 months 2023
- Norway purchased 79,672 battery electric vehicles (BEV) over the first 9 months of 2023, compared to 79,931 units over the first 9 months of 2022, a stable volume over the period, but remains at a very high market share (BEV = 83% of the Norwegian market over the first 9 months of 2023).
- The best-selling model in this category is the Tesla Model Y, which doubles its sales thanks to its supply which now comes almost exclusively from its German site, near Berlin. This model sold 19,578 units over the first 9 months of 2023, well ahead of the VW ID4 (5,832 units), Skoda Enyaq (4,781 units), Volvo XC40 (3,815 units) and Toyota BZ4X (3,486 units). These five models alone represent 47% of all BEV sales in Norway over the first 9 months of 2023. The Norwegian BEV market is more concentrated than in Germany, France or Germany. United Kingdom.
- We notice the absence of French models among the 20 best-selling BEVs on the Norwegian market, as in Germany and the United Kingdom. It seems that these French models are only really successful in France, which poses a problem for the objectives of the French government which wants to produce 2 million BEVs in 2030. Where will they be sold?
- By brand, the Norwegian BEV market is largely dominated by Tesla (27% of the BEV market). Behind is Volkswagen, which has a market share half of Tesla one (14%). Volvo, Skoda, BMW, Hyundai, Nissan, Audi, Toyota and Mercedes follow. MG already occupies 3% of the Norwegian BEV market.
Hyundai will produce cars in Saudi Arabia
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Hyundai will produce cars in Saudi Arabia
- The Korean carmaker Hyundai has announced that it will produce cars in Saudi Arabia. This will be its first plant in the Middle East. This announcement follows by a few weeks the announcement made by the American brand Lucid of its plant opening in Saudi Arabia. This announcement by a second carmaker to produce cars in this country is part of a vast overall plan by the Saudi government to diversify the country's industry, which is today mainly based on the oil industry. This overall plan is financed by the Public Investment Fund (PIF) and the Saudi sovereign fund. Saudi Arabia aims to assemble 300,000 cars of all brands per year from 2030.
- Lucid has declared that it wants to produce 5,000 battery electric vehicles per year in SKD (Semi Knocked Down) in the Jeddah region, on the banks of the Red Sea, and then 150,000 units in 2030. Hyundai wants to produce 50,000 thermal and battery electric vehicles each year, probably in CKD (Complete Knocked Down) or SKD (Semi Knocked Down).
- PIF will hold a 70% stake in the new joint venture that will assemble the Hyundai models, with the Korean carmaker holding the remaining 30%. The plant enabling this production will be built in 2024-2025 and will begin operations in 2026. The precise location of the plant has not yet been revealed, nor the models that will be assembled there.
- Remember that the Saudi automobile market represented 650,000 vehicles in 2022, compared to 580,000 in 2021 and 470,000 in 2020. Hyundai occupies on average 20% of this market each year, or 130,000 units in 2022.