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keyword:Caroline Chen21 result(s)

Press Releases
NEV Sales for 2021 Projected to Reach 4.35 Million Units, While IoT/Consumer Electronics Vendors Attempt to Enter NEV Market, Says TrendForce

2021/06/23

Emerging Technologies

As the pace of electrification accelerates in the global automotive market, and various governments worldwide implement subsidy policies that encourage consumer EV purchases, sales of new energy vehicles (NEV, which includes both BEV and PHEV) are continuing to rise as well, according to TrendForce’s latest investigations NEV sales for 2021 are projected to reach 435 million units, a 49% increase YoY TrendForce indicates that electrification, smartization, and automation are the three key determinants of the ongoing transformation taking place in the automotive industry Guided by these three determinants, not only are the strategies, business models, and competitions of automakers transforming, but the automotive supply chain is also changing and expanding Upstream component suppliers and downstream manufacturers alike are now operating in accordance with new paradigms High potential for NEV growth entices emerging competitors to enter the market Now that the competition between traditional and emerging automakers in the NEV market is gradually intensifying, traditional automakers have begun releasing BEVs that are based on purely electric platforms rather than preexisting ICE vehicles However, for the vast majority of mainstream automakers, NEV sales account for less than 10% of their total car sales These automakers are therefore placing a top priority on expanding the lineup and sales volume of their NEV models Emerging automakers, on the other hand, are instead focusing on expanding their production capacities, and Tesla as well as Chinese brands (including NIO and XPeng) have made their respective capacity expansion plans NEV sales currently account for only 5% of total automotive sales As such, not only does the NEV market still have high potential for growth, but this potential has also attracted new players, which are mostly consumer electronics and IoT vendors such as Xiaomi and OPPO, to enter the market Given their lack of competencies in developing and manufacturing whole vehicles, these companies are instead acquiring existing automakers or utilizing ODM services Therefore, automotive ODM services are likely to ramp up going forward, while automakers and ODMs will continue building factories via joint ventures, sharing their technologies, and jointly developing NEV models For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
BEV Sales Undergo 153% YoY Increase in Newly Released Total NEV Sales Ranking for 1Q21, Says TrendForce

2021/05/13

Emerging Technologies

Total NEV (New Energy Vehicle, which includes both BEV and PHEV but excludes HEV) sales for the 1Q21 period reached 109 million units, according to TrendForce’s latest investigations Of this figure, BEVs accounted for 750,000 units in sales, a 153% growth YoY, while PHEVs accounted for 340,000 units in sales, a 128% growth YoY In particular, Chinese automakers collectively possessed the largest shares in the BEV market in 1Q21, and certain Chinese BEV manufacturers moved up in the rankings accordingly Other than longstanding market leader Tesla, Chinese automakers Wuling Hongguang, BYD, and ORA occupied three of the top five spots With regards to the BEV market, Tesla remained firmly as the sales leader, primarily thanks to Model 3, which surpassed Model Y by more than 50,000 units in sales despite the latter’s sales growth Wuling Hongguang continued to set sales records in the Chinese market with its Hongguang MINI, which retails for a modest RMB 28,800 Not only was the MINI the highest-selling BEV in China in 1Q21, but Wuling Hongguang also leapfrogged to second place in the top 10 by overtaking Volkswagen and BYD, which ranked second and third in the global BEV market last year Chinese automaker ORA ranked fifth in 1Q21 mainly thanks to the ORA R1, which is also known as the ORA Black Cat and retails for RMB 69,800, with a driving range of 301km Much like the Hongguang MINI, the ORA R1 has been highly popular in its home market As one of the Chinese automakers whose models are relatively high-priced, NIO took seventh place on the top 10 list NIO’s EVs support both charging and battery swapping functions As well, the automaker has been offering BaaS (battery-as-a-service) since 2020, and NIO EVs that are paired with a BaaS subscription plan can be purchased at a RMB 70,000 discount These functional and cost-oriented advantages will likely propel NIO’s sales even further With regards to the PHEV market, changes in the sales rankings for 1Q21 were relatively minor, with no changes in the top four spots, occupied by European automakers BMW, Mercedes-Benz, Volvo, and Volkswagen, respectively Toyota rose through the ranks and took the fifth position after it released PHEV versions of its popular RAV4 and Prius models Notably, Li Xiang, or Li Auto, has been gaining traction in the Chinese market The automaker was able to break into the top 10 list of PHEV sales via only one model, the Li Xiang One, and whether it can maintain this remarkable performance going forward remains to be seen On the whole, TrendForce believes that the regional fluctuation of EV sales will be the key to determining the ranking of automakers in the NEV market In particular, Chinese automakers are able to benefit from several factors: first, China’s vast market; second, the Chinese government’s push for NEV sales in rural areas since March 2021; and finally, online auto retailers’ sales promotions during shopping seasons such as the Shuangpin Shopping Festival (or Brand and Quality Online Shopping Festival) Sales performances in the European market, on the other hand, appear relatively uncertain in 2Q21 due to each European country’s varying market conditions, border restrictions, and pandemic responses

Press Releases
Automakers Score Remarkable Performances in Top Five Ranking of EV Sales in 2020 Thanks to Affordable Models, Says TrendForce

2021/03/02

Emerging Technologies

Global sales of NEV (new energy vehicles, which include both BEV and PHEV) skyrocketed in the final two months of 2020, with various models setting historical sales records, according to TrendForce’s latest investigations TrendForce estimates total NEV sales for 2020 at 29 million units, a 43% increase YoY, and further expects yearly sales to reach 39 million units in 2021 However, as the current shortage of automotive chips has had a considerable impact on the auto industry, some uncertainties still exist in the forecast of EV sales With regards to the BEV market, Tesla primarily focused on marketing the Model 3 as its key model for 2020 The automaker took leadership position with a 245% market share last year, while the Model Y is expected to be key to securing its continued leadership in 2021 primarily because China has issued a sales permit allowing the Model Y to be exempt from purchase tax Furthermore, Tesla was able to catch its competitors off guard by discounting Model Y prices by 30% on the first day of 2021 Volkswagen took second place in the rankings due to not only the excellent market reception of the e-Golf, but also the remarkable sales figures set by the ID3 in 2H20, which helped Volkswagen stabilize its market share Incidentally, as the ID4 is set to hit the market later on, it is expected to make meaningful contributions to Volkswagen’s overall EV sales in 2021 instead of 2020 BYD derives its competitive advantage from having a comprehensive model lineup The Chinese company comfortably took third place with a 64% market share Conversely, fourth-ranked Wuling Hongguang became the dark horse of 2020 by fielding a single EV model, the Hongguang Mini Not only was the Hongguang Mini attractively priced, but the Chinese government also made a heavy push for NEV sales in China's rural areas Both of these factors allowed the Hongguang Mini to become one of the global top sellers within six months of its release Hot on the heels of Wuling Hongguang is Renault, which took fifth place in the ranking Renault was able to score a 56% market share thanks to its longstanding best seller ZOE Although other models, including the Nissan Leaf and Hyundai Kona, also posted remarkable sales performances last year, their respective automakers did not place on the top five list because these automakers each had total EV sales that fell short of the five automakers on the list On the other hand, the top PHEV manufacturers were neck and neck in terms of ranking by market share BMW and Mercedes-Benz each possessed a 13% market share, followed by Volvo with 12% Fourth-ranked Volkswagen and fifth-ranked Audi registered a 10% market share and 6% market share, respectively TrendForce indicates that China and Europe are perfect examples of EV markets propelled by government policies For instance, European automakers have adopted a proactive position to expand their EV lineups as a result of the stringent emissions standards set by the EU, and these automakers have subsequently been aiming to achieve zero carbon emissions or increase the share of EVs in their total vehicle sales Apart from China and Europe, the US is yet another market where policies may have a positive effect on EV sales After winning the 2020 presidential election, Biden is now set to launch his clean energy proposal, which includes replacing the US government’s existing fleet with EVs, removing the previously set ceiling on federal tax credits for EV purchases, and offering consumer tax incentives to replacing their conventional fossil fuel vehicles with EVs, among other actions If these proposed actions were eventually implemented, TrendForce believes they would be able to drive up EV sales in the US

Press Releases
New Energy Vehicle Sales Grow Against Headwinds by 19.8% in 2020, with Significant Growth Expected for 2021, Says TrendForce

2020/11/27

Emerging Technologies

Thanks to subsidies by various governments worldwide, the New Energy Vehicle market, including BEVs and PHEVs, maintained a positive growth in sales performance despite the major downturn experienced by the overall automotive market, according to TrendForce’s latest investigations Total New Energy Vehicle sales for 2020 are expected to reach 24 million units, a 198% increase YoY TrendForce analyst Caroline Chen indicates that governmental subsidies have been the primary driver for the growth of New Energy Vehicles in 2020, as China, Germany, the UK, and France authorized subsidies for automotive purchases in an attempt to stimulate their domestic economies These subsidies for the most part pertained to environmentally friendly New Energy Vehicles, with BEVs yielding the highest subsidies As governments successively withdraw subsidies each year, rising subsidies have thus become a significant attraction for consumers, especially in certain countries where governments provide enough subsidies to cover the difference in price between EVs and gasoline vehicles With regards to regional markets, most of the upwards momentum for New Energy Vehicles stems from Europe More specifically, the New Energy Vehicles markets in Germany, the UK, and France are expected to collectively reach sales of about 630,000 units in 2020, a 163% increase YoY, while the Chinese market may potentially see its sales performance substantially recovering at the end of the year, with total yearly sales in China reaching a 6% increase YoY Region-wise, China and Europe are expected to maintain their status as the primary drivers of New Energy Vehicles sales in 2021 The former has instituted various policies to stimulate both EV sales and charging station build-out In particular, Shanghai has issued extremely strict restrictions against cars with out-of-town license plates However, the city has also given special permit for cars with New Energy Vehicle license plates to be exempt from the restrictions Shanghai’s policy is one example out of many other policies by China to stimulate New Energy Vehicle sales on a large scale via localized actions As such, the growth of China’s New Energy Vehicle sales is expected to once again exceed the global average in 2021 On the other hand, governmental subsidies for New Energy Vehicles in the European market, which is the other market aside from China driving up the overall penetration rate of New Energy Vehicles, are likely to last throughout 2021 This, in addition to the 100% implementation of the new CO2 emission standards stipulating that automakers that fail to meet said standards will be penalized at a significant fine, will propel the development of the New Energy Vehicle market in Europe In reality, several automakers have purchased carbon emission credits from New Energy Vehicle manufacturers such as Tesla in order to steer clear of carbon emission penalty fines, although this strategy is not sustainable in the long run In any case, by the end of 2020, the European New Energy Vehicle market will have seen the announcement and release of multiple models, and automakers will make an even more aggressive attempt to saturate the market For the consumer, the proliferation of New Energy Vehicles means that consumers are no longer faced with the lopsided choice between disproportionately few EV models and the vast ocean of conventional gasoline vehicles Instead, consumers will be able to choose from a wide variety of EV models within the same price segments going forward In terms of the overall EVs market, Tesla took leadership positions in nearly all regional markets by sales in 2020 The industry will likely experience substantial growth in 2021 owing to the release of EV models by various mainstream automakers, as well as the delivery of Model Y vehicles from Tesla’s Shanghai Gigafactory Global sales for 2021 are expected to reach 34 million units, a 397% increase YoY and a return to accelerated growth On the other hand, the rapid growth of the New Energy Vehicle market will also provide growth opportunities for the various supply chains of EV components and charging station components

Press Releases
Total Sales of Connected Cars Projected to Reach 74 Million Units in 2025 as Companies Rush to Seize Commercial Opportunities in 5G V2X, Says TrendForce

2020/07/31

Telecommunications / Emerging Technologies

The share of connected cars is steadily rising in the new car market, owing to the rapid development of V2X in recent years, according to TrendForce’s latest investigations As well, 3GPP, the standards-setting organization for telecommunications protocols, announced on July 3rd that it had approved Stage 3 of 5G Release 16 (R16) This marks the completion of 5G Phase 2, after which the industry will see a rising number of supported 5G applications, including autonomous driving This represents a further expansion of V2X applications As such, the number of connected cars sold in the new car market is projected to reach about 74 million units in 2025, an 80% penetration rate TrendForce analyst Caroline Chen indicates that the rapid surge in the penetration rate of connected cars likely takes place because various governments are aligning V2X, connected cars, and smart vehicles as vital national development priorities by officially supporting the growth of the V2X industry Another factor is that automakers, telecom operators, and third-party service providers have all set their sights on the potential profitability of the massive data and related commercial applications that accompany the widespread adoption of V2X Global auto sales volume is projected to plummet by 206% in 2020, with 5G V2X applications as a potential highlight for the industry In addition to improving the V2X user experience, 5G integration also extends V2X functionalities from existing emergency assistance and media entertainment functions to driver safety 5G-based V2X enables ADAS- and ADS-based driver safety by interconnecting various driving-related data points, including vehicle telemetry, road conditions, and driver conditions, with the cloud Furthermore, self-driving logistics vehicles, which are highly dependent on long-range remote driving, and self-driving truck fleets can both enter commercial applications sooner than expected thanks to 5G-based V2X According to TrendForce, 5G is an indispensable part of smart vehicle development, as it serves as the main driver for commercial opportunities in the automotive software and hardware sectors, although practical issues, including infrastructure (such as base stations and RSU), cost, vehicle design, and testing/certification, still need to be resolved Since the COVID-19 pandemic has yet to be successfully contained, global auto sales volume in 2020 is projected to decrease by a massive 206% At the same time, the market is placing high hopes on 5G V2X This technology, along with its emergent applications, will likely become the driving force revitalizing the automotive industry

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