UBS View: EV sales forecasts upgrades drives higher raw material demand
UBB’s global Autos team has just upgraded EV sales forecasts following our second UBS Evidence Lab survey of ~10k consumers in the six largest car markets. The survey found a positive trend in consumer interest in EVs. We now project 16.5m EV (passenger BEV + PHEV) sales in 2025, or about 16% total EV sale penetration & up from 14.2m previously. Upgrades reflect 1) higher China demand supported by survey data and regulation, & 2) higher 2017 ytd sales in key markets. EV momentum is building.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
