Bahamas News
Germany powers ahead in electric car sales growth – sales more than treble during the pandemic; Bahamas sees 133% increase
September 28, 2021 – Germany has seen the world’s fastest growth in electric car sales of all major economies[1] during the pandemic, with sales more than trebling to 194,000 cars in 2020, up from just 63,000 in 2019, shows a study of electric car sales worldwide by UHY, the international accountancy network.
The 207% growth in electric car sales in Germany last year puts it first out of 27 countries[2] in UHY’s study. This was marginally ahead of Italy, which saw a rise of 204%, from 11,000 units sold in 2019 to 32,000 in 2020. The UK was in third place, with a sales increase of 186% in 2020, and The Bahamas showed a 133% increase. The average sales growth of EVs globally in 2020 was 36%.
Worldwide growth in sales of electric cars has outpaced global car sales (including petrol and diesel), which fell by approximately 15% to 64 million in 2020, down from 75 million in 2019.[3]
Less than a fifth (19%) of countries in UHY’s study saw sales of electric cars fall during the first year of lockdown.
UHY says that Germany has begun a program of heavy investment in electric vehicle charging infrastructure in order to achieve its target of having 10 million electric vehicles and one million charging stations on German roads by 2030. The country also has generous tax breaks and incentives for purchases of electric cars and charging points. New electric cars priced at less than 40,000 EUR benefit from a government rebate of 9,000 EUR, while the state-owned Development Bank offers a 900 EUR grant to install a private electric car charging point. In The Bahamas, the Bahamas Development Bank offers finance for commercial vehicles on favorable terms as attractive as no money down.
UHY Wahlen & Partner says that several new and updated mass-market electric vehicles were launched in the last year, including the Volkswagen ID.3 and e-Up! has triggered a new wave of sales in Germany. Battery electric cars made up 10% of all new cars sold in Germany in 2020, with fossil fuel-powered cars falling to a 78% share of new car sales.
Dennis Petri, Chair of UHY, comments: “The electric car revolution has picked up a lot of speed worldwide in the past year, despite the effects of the pandemic. Germany is a country with a long history of automotive innovation, and it looks like it will again be part of the vanguard in making electric cars a part of everyday life.”
“Many governments around the world have helped to drive the electric vehicle transition through providing subsidies for consumers who purchase EVs. Along with investing in the public charging infrastructure necessary to support electric cars, this is the biggest step governments can take to accelerate a large-scale switch to EVs.”
Thomas Wahlen, Managing Partner at UHY Wahlen & Partner, comments: “Manufacturers and the Government in Germany have both invested a great deal in accelerating the German transition to electric vehicles, and they will be hoping this growth rate continues for several more years.” John Bain, the Managing Partner at UHY Bain & Associates, added: “EVs have shown a significant year over year sales growth in The Bahamas. We support a further investment by the government of gradually changing its fleet to EVs that will lead to long-term savings over the life of the vehicle, as well as a reduction in the carbon footprint.”
Electric car sales growth continues to slow in China
UHY’s study shows that electric car sales growth in China continued to slow in the past year, with 968,000 battery-electric cars sold in 2020, a 16% increase on 836,000 sold in 2019. The growth rates in the previous two years had been 23% and 54%. China’s sales growth in 2020 placed it 21st on the table in UHY’s study.
However, China remains by some distance the largest national market in the world for electric cars, with more sales than the next four largest markets combined. Sales of electric cars in China are heavily incentivized by programs including Beijing’s ‘license lottery,’ which limits the city’s 22 million residents to only 40,000 new petrol cars per year to lower congestion and pollution.
US and Japan both saw electric car sales fell in 2020
UHY’s study also shows that both the US (23rd place, electric car sales down 5% in 2020) and Japan (27th place, electric car sales down 31% in 2020) both saw electric car sales fall in the past year. Less than 2% of new cars sold in the US in 2020 were battery electric vehicles.
Dennis Petri adds: “Electric cars in the US are still generally confined to the east and west coasts – that is thanks to the incentives offered by state governments in places like California, New York, and New Jersey. Car buyers in the rest of the country would benefit from more states following suit.”
Morito Saito, Director at UHY FAS Ltd, UHY’s member firm in Japan, comments: “Japanese car manufacturers still have a relatively limited offering when it comes to battery-electric cars even though they were very early adopters of hybrid technology. While some manufacturers in Europe are already implementing plans to produce only electric vehicles, that has not yet happened in Japan.”
1 Battery electric passenger cars only, excludes hybrids
2 Excluding those registering less than 1,000 electric car sales in 2020
3 Statista – number of cars sold worldwide
UHY Wahlen & Partner says that several new and updated mass-market electric vehicles were launched in the last year, including the Volkswagen ID.3 and e-Up! has triggered a new wave of sales in Germany. Battery electric cars made up 10% of all new cars sold in Germany in 2020, with fossil fuel-powered cars falling to a 78% share of new car sales.
Dennis Petri, Chair of UHY, comments: “The electric car revolution has picked up a lot of speed worldwide in the past year, despite the effects of the pandemic. Germany is a country with a long history of automotive innovation, and it looks like it will again be part of the vanguard in making electric cars a part of everyday life.”
“Many governments around the world have helped to drive the electric vehicle transition through providing subsidies for consumers who purchase EVs. Along with investing in the public charging infrastructure necessary to support electric cars, this is the biggest step governments can take to accelerate a large-scale switch to EVs.”
Thomas Wahlen, Managing Partner at UHY Wahlen & Partner, comments: “Manufacturers and the Government in Germany have both invested a great deal in accelerating the German transition to electric vehicles, and they will be hoping this growth rate continues for several more years.” John Bain, the Managing Partner at UHY Bain & Associates, added: “EVs have shown a significant year over year sales growth in The Bahamas. We support a further investment by the government of gradually changing its fleet to EVs that will lead to long-term savings over the life of the vehicle, as well as a reduction in the carbon footprint.”
Electric car sales growth continues to slow in China
UHY’s study shows that electric car sales growth in China continued to slow in the past year, with 968,000 battery-electric cars sold in 2020, a 16% increase on 836,000 sold in 2019. The growth rates in the previous two years had been 23% and 54%. China’s sales growth in 2020 placed it 21st on the table in UHY’s study.
However, China remains by some distance the largest national market in the world for electric cars, with more sales than the next four largest markets combined. Sales of electric cars in China are heavily incentivized by programs including Beijing’s ‘license lottery,’ which limits the city’s 22 million residents to only 40,000 new petrol cars per year to lower congestion and pollution.
US and Japan both saw electric car sales fell in 2020
UHY’s study also shows that both the US (23rd place, electric car sales down 5% in 2020) and Japan (27th place, electric car sales down 31% in 2020) both saw electric car sales fall in the past year. Less than 2% of new cars sold in the US in 2020 were battery electric vehicles.
Dennis Petri adds: “Electric cars in the US are still generally confined to the east and west coasts – that is thanks to the incentives offered by state governments in places like California, New York, and New Jersey. Car buyers in the rest of the country would benefit from more states following suit.”
Morito Saito, Director at UHY FAS Ltd, UHY’s member firm in Japan, comments: “Japanese car manufacturers still have a relatively limited offering when it comes to battery-electric cars even though they were very early adopters of hybrid technology. While some manufacturers in Europe are already implementing plans to produce only electric vehicles, that has not yet happened in Japan.”
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to once again support Basketball Smiles for their 27th year.
Upholding its corporate pillar of community outreach, CBC proudly donated $2,000, over 75 cases of Dasani, Powerade and Sprite, reusable
Powerade water bottles and numerous marketing materials.
The annual sporting summer camp offers free basketball and life skills training to Junior and High School students.
Basketball Smiles’ mission of developing leadership qualities while fostering children’s academic achievement and self-esteem aligns perfectly with CBC’s commitment to supporting and empowering youth.
Jazmin Darling, Assistant Marketing Manager for Caribbean Bottling Company shared why the company continues to support this program each year.
“At CBC, we believe investing in our youth is one of the greatest ways to strengthen our communities. We’re proud to support Basketball Smiles each year because it goes beyond the game. This program champions healthy lifestyles, positive values and brighter futures. It’s a privilege to play a role in helping these young athletes reach their full potential each year,” she shared.
Sam Nicholls, Basketball Smiles Camp President and Founder expressed.
“Caribbean Bottling Company is an incredible partner. We are truly grateful for their generous support, which will go a long way in making a positive impact on the lives of our campers,” Nicholls expressed.
CBC is always ready to lend its support toward initiatives and programs that uplift young Bahamians. The impact Basketball Smiles makes on the community is undeniable and is why CBC remains a historic sponsor.
For more information on sponsorship, events and new products, visit www.cbcbahamas.com today.
NASSAU, Bahamas — Caribbean Wines and Spirits (CWS), The Bahamas’ premier wine and spirits distributor is thrilled to once again lend its support to Transforming Spaces (TS).
CWS is a proud historical partner of the annual art week which highlights Bahamian art and art spaces. Under this year’s theme, “Chasing
Light” Transforming Spaces and Caribbean Wines & Spirits created a memorable art experience.
To mark 21 years of the upliftment and exposure of culture and Bahamian art, CWS offered award winning wines St. Francis, Rebellious, Bottega and Excellsior; premium spirits, Cross Keys Gin, El Tequileno Tequila, Angostura Rum and Nemiroff Vodka, along with the newly added Coors Light Beer from its portfolio.
To kickstart the annual art week, CWS delighted attendees with a tasting of globally renowned Bottega Wines at TS’ Poetry Jam, held at ICE Bahamas. Throughout the event, Bottega brand representatives shared tasting notes, ideal pairings, and insights into the brand’s portfolio.
During the highly anticipated Saturday and Sunday tours, CWS showcased its premium products at select art galleries.
Attendees enjoyed Rebellious and St. Francis wines at The Current: Baha Mar Art Gallery and Museum, Bottega and Excellsior wines at the National Art Gallery of The Bahamas, Coors Light beer at the University of The Bahamas Pro Gallery and hand-crafted Schweppes mixes featuring Cross Keys Gin, El Tequileno Tequila, Angostura Rum and Nemiroff Vodka at CAB Gallery & Studio.
Throughout the two-day tour, CWS product specialists enriched the experience by providing a deeper appreciation for their exceptional beverage portfolio.
Members of the Transforming Spaces Committee expressed their appreciation towards CWS’ support after another successful art week.
“Transforming Spaces is deeply grateful for the continued support of Caribbean Wines & Spirits over the years. Their partnership has become such an important part of the TS experience, helping us create welcoming and vibrant moments for our audiences across the tour weekend. From signature wines and cocktail bars to refreshments at gallery stops and pop-up events, their contribution brings an added sense of hospitality, celebration, and connection to the journey through Bahamian contemporary art.” — TS2026 Committee.
Caribbean Wines & Spirits is proud to partner with Transforming Spaces in supporting and elevating the voices and works of Bahamian artists and looks forward to strengthening this partnership for years to come.
To learn more about CWS’ involvement in the community, follow on social media @caribbeanwinesandspirits or visit the website at www.cwsbahamas.com today.
What the Attorney General must do now to protect Bahamian exports
Deandrea Hamilton | Editor
NASSAU, Bahamas — The United States’ decision to impose a 12.5 percent tariff on Bahamian exports is about more than higher costs for seafood, rum and other goods entering the American market. It is a warning that The Bahamas must move quickly to strengthen or clarify its legal framework governing forced labour and supply-chain enforcement.
The tariff, which takes effect July 24, is part of a sweeping U.S. trade action affecting 60 economies following a review by the Office of the
U.S. Trade Representative (USTR). The review concluded that the listed countries have not adequately prohibited or enforced measures against goods linked to forced labour in global supply chains.
The action follows a recent U.S. Supreme Court ruling that invalidated an earlier series of Trump-era tariffs imposed under emergency powers. In response, the Trump administration shifted to a different legal authority—Section 301 of the Trade Act of 1974—using findings from a U.S. Trade Representative investigation into forced-labour compliance to support a new round of tariffs affecting 60 economies, including The Bahamas.
Importantly, the action does not accuse Bahamian businesses of using forced labour. Instead, it reflects the U.S. view that The Bahamas’ legal or enforcement framework does not yet meet the standard Washington expects.
That distinction matters.
The Attorney General’s Office now has the responsibility to lead the country’s legal response. That begins with determining precisely what concerns the U.S. Trade Representative identified, reviewing whether Bahamian law adequately addresses those concerns and, where necessary, recommending legislative or regulatory changes. If deficiencies exist, legal amendments and stronger enforcement could help position The Bahamas for removal from the tariff list.
The government may also seek formal discussions with U.S. officials while those reforms are undertaken, outlining a clear timetable for
compliance and demonstrating that the country is committed to meeting international labour standards.
A Nassau Guardian front-page report on July 24 drew attention to the tariff action, prompting broader questions about why The Bahamas was included among the 60 economies affected by the U.S. trade measure and what steps are now needed to restore full confidence in the country’s trade framework.
For many Bahamians, the immediate concern will be the fisheries sector, one of the country’s largest export industries. Commercial shipments of lobster, conch, fish, crawfish and other products entering the United States could become more expensive because of the additional tariff, potentially affecting exporters’ competitiveness.
The broader lesson is that international trade increasingly depends not only on quality products, but also on strong business relationships and confidence in the legal systems that govern them.
For The Bahamas, this is less a finding of wrongdoing than a reminder that international credibility is earned through modern laws, effective enforcement and trusted partnerships. The challenge now is for the Attorney General’s Office to lead a swift legal review, identify any deficiencies and chart a clear path toward compliance so Bahamian exporters are not burdened any longer than necessary.
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