Since we originally published this post, Tesla ($TSLA) has announced the Model 3 … and, it’s at a much lower price point than previous models. Tesla has already received upwards of 400,000 pre-sale reservations, and 93% of the reservation holders are new to the brand — equating to roughly 370,000 new customers.
When this post originally appeared, we used AlphaSense to identify answers to a few simple queries to gauge the implications of increased investment in the electric car space. Check out the full post below and try out AlphaSense for free to gain an information edge on the economic impacts affecting your interests.
Although electric cars have been around for several years, they’ve recently reappeared in headlines with Apple’s ($AAPL) rumored entry into the market, Tesla’s ($TSLA) announcement of their Model X and Volkswagen’s ($VOW.DE) increased investment in electric cars following a major emissions scandal.
So far in 2015, the Tesla Model S has been the best-selling electric vehicle with approximately 17,000 units sold year-to-date. The Model S is followed by the Nissan ($7201.JP) Leaf, Chevy ($GM) Volt, and the newer BMW ($BMW.DE) i3. Despite individual successes like the i3, which has seen a year-over-year sales increase of 150% (Q1 – Q3 2014 to Q1 – Q3 2015), in aggregate, electric cars have seen a 5% decline in the same period.
However, with several major corporations committing substantial resources to the development of electric cars with potentially futuristic features such as self-driving and automated parking, this historically slow cyclical sector has become very interesting with major ramifications to the future of the broader industry at large.
Several questions arise when attempting to gauge the implications of increased investment in the electric car space. Using AlphaSense, I was quickly able to identify answers to several diverse queries:
What geographic regions have seen, or are expected to see, the largest adoption of electric cars?
What businesses will be impacted by a rise / fall of future electric car sales?
Have gas prices had any impact on electric car sales?
What less obvious companies are investing in the electric car market?
What has big auto incumbent General Motors said about EVs?
Using AlphaSense to collect all the above information, I arrived at a few key takeaways:
1. “Odd Mix Of 100% Electrics Up Big In September (US Electric Car Sales).” evobsession.com