The big picture is that our car market is plunging, down 7 per cent in September year on year. Car sales dropped 18 per cent while SUVs rose 1 per cent. Fancy that. SUVs outsold cars 42,000 to 25,000 and outsold hybrids and electrics by seventeen to one. Even top-end Toyota Land Cruiser SUVs were snapped up at 32 per day, price $88-136,000.
Globally, SUVs are likewise swamping car sales and here’s the point: as fast as governments bribe or wrangle people into low-emission electrics, the popular shift to SUVs more than cancels the emissions cuts. In the forced march of folly towards net zero emissions, electrics are as much a lost cause as windmills.
Electrics and hybrid sales worldwide are collapsing, led by a 34 per cent year on year downturn in September in their biggest market, China. Plug-in hybrid sales there were also smashed by 27 per cent for the quarter. Buyers are spooked by official cuts in subsidies and concerned about the cheap popular models’ short range per charge.
A Macquarie market note suggests only 8 per cent global growth of electrics this year after three years of 50 per cent increases. The demand for electrics is ‘no longer bullet-proof’, it said. Price Waterhouse Coopers, quoted in German reports, put global electrics sales in the September quarter at only 322,000, down 3 per cent year on year, and plug-in hybrids down 24 per cent. The costly electrics quest defies sense. The International Energy Agency projects that SUVs by 2040 will be canceling out the fossil-fuel savings from 150 million electric cars. This is despite all the enforced use of electrics, subsidies and grid disruption.
Petrol/diesel car sales globally have fallen slightly for two years, as if the car craze has peaked. Greenies love that because cars consume a quarter of world oil output. But within this vast auto market, fuel-hungry SUVs are displacing cars – SUV numbers have jumped from 35m to 200m in a decade.
Market share doubled from 20 to 40 per cent. Of the decade’s increase in world car sales, SUVs have grabbed 60 per cent of it. Half of US car sales are SUVs, and a third of Europe’s. SUV sales are thriving in China, India and even Africa. The CO2 emissions impact from these SUVs is startling. They’re the second-largest contributor to emissions growth since 2010, behind power generation but ahead of heavy industry (iron and steel, cement, aluminium, etc.), trucks and aviation.