Alpho: Electric Vehicles: Getting Closer to the Break-even Point

The falling sales of regular petrol-powered cars of at least 20% are also important.

  

Dubai, United Arab Emirates, (AETOSWire): Despite COVID-19 crisis, electric vehicle sales break records, says chief analyst of Alpho Milosh Pham. In Germany, their sales almost doubled from H1 in 2019 to H1 in 2020. The falling sales of regular petrol-powered cars of at least 20% are also important.

The surge in demand for electric cars is accompanied by extremely bullish market sentiment reflected in the development of Tesla’s share prices. Deloitte estimates that by 2030, global sales of electric cars might achieve 21 million. It comes as no surprise in the current situation that new models of electric cars constantly occur on the market. The first purely electric SUV has been presented by the Czech car producer Škoda this week.

Let us take a closer look at the growth of electric vehicle sales. Tesla started producing its Model S in 2013, when the car maker produced 20,000 vehicles annually. In 2018, electric vehicle sales topped 360,000 in the U.S. and in mid-2019, global sales of electric vehicles reached 530,000.

The massive growth occurred despite the high acquisition cost of electric vehicles, which is gradually decreasing. The median of sales prices of electric vehicles in the U.S. slightly increased to USD 36,600 last year, yet the regular price of an electronic car dropped by more than 13% from USD 64,300 to USD 55,600.

The future of electric car business is open for both environmental and economic reasons.

Electricity is relatively cheap compared to crude oil and we are able to generate it from renewable sources of energy. Moreover, we can be sure that there will be technological progress in the methods of electric power generation.  

Now, we can use nuclear power plants to generate huge amounts of electricity, but what if we figure out how to use the fusion power? It is far more stable and a single plant could produce more energy than the whole world needs. We can thus assume that the price of oil will inevitably rise, while the price of electric energy will fall.

Replacing a fossil fuel car with an electric vehicle may be an economic step leading to a future saving which also helps the environment.

Trading is risky and your entire investment may be at risk. TC’s available at http://www.alpho.com 

-Ends-

*Source: AETOSWire

Contact:
Milosh Pham
Chief Analyst Alpho
support@gulfbrokers.com 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases