BMW, Mercedes, and VW each saw EV sales skyrocket vs. ICE slump, but who is winning?

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2 years ago

January 10, 2023

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Following a production year riddled with supply chain constraints, chip shortages, and a war in Ukraine, German automakers BMW Group, Mercedes-Benz, and Volkswagen Group still saw significant growth in EV sales. Conversely, combustion vehicle sales continue to drop due to the reasons above, in addition to more and more drivers joining the green side.

We won’t waste any of your time today recapping who the legacy automakers out of Germany are. We are quite confident you’re familiar with each and their respective lineups of all-electric models. Although Mercedes or BMW might not be Volkswagen’s top competitor, the three automakers still compete at some level, particularly in the electrified segment.

For example, Mercedes-Benz, BMW, and VW’s Audi marque are all competing for global EV sales in the luxury segment, whether it’s sedans or, in Mercedes’s case, SUVs and vans as well. Volkswagen Group has become a growing threat in the market share of EV sales in recent years, nipping at the heels of global leader Tesla, but did it hold steady in 2022?

Here’s how each of these German automakers stacked up against one another in overall EV sales in 2022.

Which German automaker saw the highest EV sales in 2022?

If you guessed Volkswagen Group, you’d be correct… to an extent. The German automaker responsible for the ever-popular ID.4 reported around 330,000 deliveries of BEVs around the globe this past year, noting 23.6% growth year-over-year.

For comparison, VW delivered 4.56 million vehicles in all, down 6.8% compared to a year prior. Since delivering its first ID.3 in 2020, Volkswagen has delivered over 580,000 ID. models worldwide.

BMW Group is reporting similar numbers in terms of overall deliveries since committing to electrification. The automaker delivered its 500,000th BEV to a customer in late 2022. As for last year’s totals, however, BMW Group fell well short of Volkswagen.

It delivered 215,755 fully electric BMW and MINI vehicles during its most recent trip around the sun, but more than doubled EV sales compared to 2021 (107.7% growth). So while its delivery numbers couldn’t hold a candle to VW Group, its growth leaves plenty of room for optimism headed into 2023, especially with the all-electric i5 joining the lineup.

Last but not least is Mercedes-Benz, which is reporting the lowest number of EV sales of the trio, but is touting the highest YOY growth. Fully electric variants of the A- and B-Class made up 10% of all sales, doubling compared to 2021.

EV sales totaled 117,800 in 2022, showcasing 124% growth. For comparison, Mercedes’s worldwide passenger car sales fell 1% to 2.05 million last year, but the only key region to see a year-on-year sales decrease was China. Mercedes-Benz is also the only company on the list reporting electric van numbers, which saw a 15% increase in sales (14,700 units) in 2022.

To recap, Volkswagen Group saw the highest number of EV sales but the lowest growth. Mercedes-Benz saw the most growth but the smallest number of EV sales, and BMW Group was middle of the pack in both categories. All in all, each of these German automakers appears to be on the right track in terms of electrification, and we’d expect these numbers to continue to trend upward a year from now.

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Cybertruck backlog runs out, Model S gets stuck, GM hits a sales milestone

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3 hours ago

November 5, 2024

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Cybertruck backlog runs out, Model S gets stuck, GM hits a sales milestone

On today’s episode of Quick Charge, Tesla’s Cybertruck is now available in Canada – and, like in the US, there’s no waiting! Plus, we’ve got an “actually” smart summon Tesla that’s actually stuck, GM reaches a sales milestone, and we get a brand-new title sponsor!

Today’s episode is the first with our new title sponsor, BLUETTI – a leading provider of portable power stations, solar generators, and energy storage systems.

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Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple Podcasts, Spotify, TuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonusLucid proves than an EV company can keep its promises while Xiaomi teams up with Chevrolet and Honda to prove – at least conceptually – that records are made to be broken. audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show!

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This ‘supercharger on wheels’ brings fast charging to you [update]

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5 hours ago

November 4, 2024

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This 'supercharger on wheels' brings fast charging to you [update]

Mobile car care company Yoshi Mobility launched a DC fast charging EV mobile unit that it likens to “a supercharger on wheels.”

November 4, 2024 update: Yoshi Mobility will only be charging EVs on the side of the road now – it announced today that it’s selling its fleet fueling operation to EZFill Holdings (Nasdaq: EZFL).

It was originally founded as a direct-to-consumer, mobile fueling business in 2016, but now it’s going to focus on mobile EV charging, virtual vehicle inspections for partners like Uber and Turo, and onsite preventative maintenance.

Bryan Frist, Yoshi Mobility’s CEO & cofounder, said, “By spinning off our fuel business and focusing all of our energy on solving hair-on-fire problems that fleet owners face, we are meeting the changing needs of enterprise customers while making the future of transportation safer, cleaner, and more sustainable.”

May 22, 2024: Yoshi Mobility saw that its existing customers needed mobile EV charging in places where infrastructure has yet to be installed, so the Nashville-based company decided to bring the mountain to Moses.

“We recognized a demand among our customers for convenient daily charging, reliable private charging networks, and proper charging infrastructure to support their fleet vehicles as they transition to electric,” said Dan Hunter, Yoshi Mobility’s chief EV officer and cofounder.

The company says its 240 kW mobile DC fast charger, which can turn “any EV” into a mobile charging unit, is the first fully electric mobile charger available. It can provide multiple charges in a single trip but doesn’t detail how they charge the DC fast charger or who manufactured it. (I asked for more details, and they replied that they won’t disclose client names or the manufacturer of its DC fast charger yet.)

Yoshi is launching its mobile charger on two GM BrightDrop Zevo 600s and will introduce additional vehicles throughout 2024. It aims for full commercialization by Q1 2025. (I wonder if the Zevo 600 ever charges itself? Yes, I asked that too.)

Yoshi Mobility says it’s already deployed its EV charging solutions to service “major OEMs, autonomous vehicle companies, and rideshare operators” across the US. Its initial customers are made up of large EV operators managing “hundreds” of light-duty vehicles requiring up to 1 megawatt of energy per day that don’t yet have grid-connected EV chargers. I’ve asked Yoshi for details of who it’s working with, and will update if they share that info.

The company says pricing is based on location and enterprise charging needs. Once under contract for service, the service will be deployed to US-based customers within 10 days.

To date, Yoshi Mobility has raised more than $60 million, with investments from GM Ventures, Bridgestone, ExxonMobil, and Y-Combinator in Silicon Valley.

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Marqeta shares plunge more than 30% on big forecast miss

Published

5 hours ago

November 4, 2024

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Marqeta shares plunge more than 30% on big forecast miss

Marqeta celebrates its initial public offering at the Nasdaq on June 9, 2021.

Source: The Nasdaq

Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter.

Here’s how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG:

Loss per share: 6 cents adjusted vs. a loss of 5 cents expected
Revenue: $128 million vs. $128.1 million expected

While third-quarter results showed a slight disappointment on the top and bottom lines, Marqeta’s forecast for the current period was more concerning.

The payment processing firm said revenue in the fourth quarter will increase 10% to 12% from a year earlier. Analysts were looking for growth of more than 17%, according to LSEG.

Marqeta, which primarily functions as a card-issuing platform, attributed the guidance miss to “heightened scrutiny of the banking environment and specific customer program changes.” The company has been struggling for a while, and its stock is now down more than 80% from its peak in 2021, the year it went public. The stock was down 15% for the year prior to the report.

Total processing volume of $74 billion was up more than 30% from a year earlier. Net revenue and gross profit were up 18% and 24%, respectively.

Marqeta’s digital commerce business sells payment technology designed to detect potential fraud and ensure that money is properly routed. It also issues customized physical cards that look like a credit or debit card that can be used for point-of-sale purchases.

The company has been trying to break into the buy now, pay later business with a recently launched product called Marqeta Flex. The service brings BNPL from lenders such as Affirm or Klarna to any credit card wherever Mastercard and Visa are accepted.

“It’s an orchestration layer, but it’s tied to issuing and processing and disputes and chargebacks,” CEO Simon Khalaf told CNBC at Money2020 in Las Vegas last week. “So it is not actually a Wild West in BNPL. It is actually very well established. And there is a reason why a lot of people are jumping to it.”