The report, titled the Auto Environmental Guide 2023, ranked the world’s 15 top-selling traditional car manufacturers on measures including ending sales of internal combustion vehicles, carbon cuts to their supply chain, and efficient use of resources.
Mercedes-Benz and BMW took the top two spots in the rankings, thanks to their ambitious targets to end fuel car sales globally by 2040. However, the report found that many other legacy automakers are not doing enough to accelerate the transition to EVs.
Toyota, for example, sold just 0.24% of its fleet as EVs last year, and has not set a firm goal for ending the sale of petrol vehicles. Hyundai and Kia also ranked poorly in the rankings, due to their rising share of SUV sales, which use more resources.
Implications for the EV Industry
The report’s findings have a number of implications for the EV industry.
Legacy automakers need to do more to accelerate the transition to EVs. This is because consumers are increasingly demanding EVs, and governments are implementing policies to support the EV market.
Smaller automakers that are focused on EVs are well-positioned to benefit from the growing demand for EVs. This includes companies like Tesla, BYD, and Polestar.
Governments need to implement policies, such as fuel-efficiency standards, to encourage automakers to import more low-emission vehicles.
The Future of EVs
The EV market is growing rapidly, and it is expected to continue to grow in the coming years. This is due to a number of factors, including:
- Falling battery costs: The cost of batteries has fallen significantly in recent years, making EVs more affordable.
- Government support: Governments around the world are implementing policies to support the EV market, such as subsidies and tax breaks.
- Consumer demand: Consumers are increasingly demanding EVs, due to their environmental benefits and lower operating costs.
Legacy automakers need to do more to keep up with the growing demand for EVs. If they do not, they risk being left behind by smaller automakers that are focused on EVs.
What Consumers Can Do
Consumers can play a role in supporting the transition to EVs by buying from automakers that are ahead of the curve on EVs. This includes companies like Tesla, BYD, and Polestar.
Consumers can also support policies that promote the EV market, such as fuel-efficiency standards.
By taking these steps, consumers can help to accelerate the transition to a more sustainable transportation system.