Production of electric vehicles doubled
Eqtesadonline – Parham Karimi; Overall, the automotive industry is recovering from the effects of the Corona epidemic. The growth of savings, as well as relatively low and stable interest rates, has increased demand for all types of goods, including cars, and with the start of 2022, the automotive industry has continued to see huge changes in business models as electric car charging speeds increase. And advances in charging technology continue. However, the industry has shown resilience to these changes. Innovation continues at a rapid pace, investment in new capacities, especially for electric vehicles, is increasing, and customer demand is increasing. Despite corona and supply chain pressures, the outlook for the industry is positive.
SUVs and SUV crossovers are the most popular and this popularity is still growing. This partially eliminates the many differences that previously existed in the popularity of the model type between different regions – such as the tendency of Europeans to small cars and Americans to larger models.
Although rising demand across the industry looks positive, electric vehicles are the best type of propulsion in terms of relative growth. In 2021, about 6.4 million electric vehicles were sold, an increase of more than 100%. The method increased by increasing from 4.5% of the total number of vehicles sold in 2020 to 9% in 2021.
The main obstacle that stops car companies and subsidiaries from producing electric vehicles is access to microchips, which are expected to remain a problem for some time. In addition, another major barrier to value growth is the impact of major industry changes on investor sentiment and risk-taking. This year, this sense of risk reduces the value of investments as a whole.
This reduction in risk is such that the ratio of car brand value in the Brand Finance Global 500 ranking for the first time in the last 3 years fell from 7.3% to 6.8% of the total, which increased the retail, technology, media sectors. And travel has reduced the share of cars.
Car brand value in Brand Finance Global 500 ranking
Looking at the Brand Finance Automobiles 100 rankings, the total number of brands introduced increased by 4.3% overall – increasing the total brand value from $ 5.9 billion in 2021 to $ 6.1 billion. In the year 2022.
Value of the top 100 car brands Brand Finance in the years 2017 to 2022
The focus should be on China, which is home to eight of the top 10 brands and 7% of the total brand value in the rankings, up from 5% in 2021. Chinese brands. They have successfully used pressure for electric vehicles in China and are now moving around the world.
These results show that the industry adapts to a period of important strategic challenge and high investment requirements, eliminating old actors and introducing new ones.