Hold onto your seats because the electric revolution is accelerating at an unprecedented pace, with global plug-in vehicle sales rocketing to a record 14 million units in 2023 as markets worldwide surge toward an electrified future.
Key Takeaways
- Global plug-in electric vehicle sales reached 14 million units in 2023, up 35% from 10.2 million in 2022.
- In 2022, worldwide BEV sales totaled 7.3 million units, accounting for 72% of all EV sales.
- Global PHEV sales hit 3.7 million units in 2023, growing 30% year-over-year.
- US new light-duty EV sales reached 1.18 million units in 2023, up 50% from 2022.
- In California, EV sales were 578,000 units in 2023, 24% of state total.
- Tesla Model Y was top US EV seller in 2023 with 385,900 units.
- Europe EV sales 2023: 3.1 million units, up 20% from 2022.
- Germany EV registrations 2023: 524,000 units, 18.4% market share.
- Norway EV sales 2023: 159,000 units, 89% of new car sales.
- China NEV sales 2023: 9.5 million units, 35.7% penetration rate.
- BYD China sales 2023: 3.02 million NEVs.
- Tesla China sales 2023: 603,000 units.
- Global EV sales projected to reach 17 million in 2024, 20% growth.
- EV market share expected to hit 25% globally by 2025.
- By 2030, global EV sales forecast: 45 million units annually.
Global electric vehicle sales surged, hitting a record 14 million units in 2023.
Chinese EV Sales
- China NEV sales 2023: 9.5 million units, 35.7% penetration rate.
- BYD China sales 2023: 3.02 million NEVs.
- Tesla China sales 2023: 603,000 units.
- Wuling Mini EV sales China 2023: 521,000 units.
- China BEV sales 2023: 6.7 million units.
- China PHEV sales 2023: 2.8 million units, up 80%.
- Aito (Huawei-Seres) sales China 2023: 320,000 units.
- Li Auto China sales 2023: 376,000 units.
- Xiaomi SU7 pre-orders indicate strong 2024 sales potential in China.
- China EV market share Dec 2023: 50%.
- Geely China EV sales 2023: 1.1 million units.
- NIO China deliveries 2023: 160,000 units.
- Xpeng China sales 2023: 141,000 units.
- Zeekr China sales 2023: 118,000 units.
- Q4 2023 China NEV sales: 2.99 million units.
- 2022 China NEV sales: 6.9 million units.
- China bus EV sales 2023: 150,000 units.
- Export of Chinese EVs 2023: 1.2 million units.
- Shanghai China EV sales 2023: 400,000 units.
- Beijing EV sales share 2023: 40%.
- China LFP battery EV sales 2023: 60% of total.
- Q1 2024 China NEV sales: 2.05 million units.
- Chery China EV sales 2023: 600,000 units.
- Leapmotor China sales 2023: 95,000 units.
- China two-wheeler EV sales 2023: 8 million units.
- GAC Aion China sales 2023: 480,000 units.
- China EV sales forecast 2024: 11 million NEVs.
Chinese EV Sales Interpretation
China's 2023 EV market wasn't just a sales surge, it was a full-scale automotive coup d'état, where BYD's 3 million vehicles crowned it king, Tesla played a respectable supporting role, and a flood of local models from Wuling's micro-mobiles to Huawei's tech-laden Aito proved the revolution will not only be electrified, but decidedly Chinese.
EV Market Trends and Projections
- Global EV sales projected to reach 17 million in 2024, 20% growth.
- EV market share expected to hit 25% globally by 2025.
- By 2030, global EV sales forecast: 45 million units annually.
- US EV sales projected 1.5 million in 2024, 10% market share.
- Europe EV sales forecast 2025: 4 million units.
- China NEV penetration to exceed 50% by end-2025.
- Global battery demand for EVs: 3.5 TWh by 2030.
- EV cost parity with ICE vehicles expected in Europe by 2025.
- Tesla projected global sales 2024: 2 million units.
- BYD forecast 2024 sales: 4 million NEVs.
- Global EV stock to reach 250 million by 2030.
- India EV sales projection 2030: 10 million annually.
- Southeast Asia EV sales forecast 2030: 5 million/year.
- EV charging points global projection: 40 million by 2030.
- LFP batteries to dominate 60% of global EV market by 2025.
- Autonomous EV sales projection: 10% of total by 2030.
- EV truck sales global forecast 2030: 2 million/year.
- Solid-state batteries in EVs by 2027 for mass market.
- Global EV investment projected $1.2 trillion by 2030.
- Africa EV sales growth projection: 30% CAGR to 2030.
- Middle East EV market share forecast 10% by 2030.
- Latin America EV sales projection 2030: 1.5 million/year.
- Wireless charging EV adoption: 5% by 2030 globally.
- V2G technology in 20% of new EVs by 2030 projection.
- Global EV recycling capacity to 500 GWh by 2030.
EV Market Trends and Projections Interpretation
The electric vehicle revolution is no longer a polite suggestion but a charging juggernaut, with every statistic from China's majority rule to the coming flood of batteries screaming that the internal combustion engine's days are conclusively numbered.
European EV Sales
- Europe EV sales 2023: 3.1 million units, up 20% from 2022.
- Germany EV registrations 2023: 524,000 units, 18.4% market share.
- Norway EV sales 2023: 159,000 units, 89% of new car sales.
- UK EV sales 2023: 314,000 units, 16.5% share.
- France PHEV sales 2023: 200,000 units.
- Tesla Model Y top EU seller 2023: 251,000 units.
- EU BEV share 2023: 14.6% of new passenger cars.
- Netherlands EV sales 2023: 150,000 units, 24% share.
- Sweden EV market share 2023: 48%.
- Q4 2023 EU EV sales: 950,000 units.
- 2022 Europe EV sales: 2.6 million units.
- Volkswagen Group EU EV sales 2023: 600,000 units.
- BMW EU EV sales 2023: 300,000 units.
- Mercedes EU EV sales 2023: 150,000 units.
- Italy EV sales 2023: 100,000 units.
- Spain EV sales 2023: 80,000 units.
- Europe EV sales growth slowed to 20% in 2023 due to subsidy cuts.
- Denmark EV share 2023: 51%.
- Q1 2024 EU EV sales: 500,000 units.
- Renault EU EV sales 2023: 120,000 units.
- Europe used EV sales 2023: 500,000 units.
- Belgium EV sales 2023: 90,000 units.
- Finland EV share 2023: 35%.
- EU EV sales by segment: Passenger cars 95% of total in 2023.
- Portugal EV sales 2023: 50,000 units.
- Ireland EV sales 2023: 40,000 units.
European EV Sales Interpretation
Europe's EV market is charging ahead with impressive speed, though not uniformly, as the continent's shift from gas to electric is clearly accelerating despite the speed bumps of reduced subsidies and a few stragglers in the south.
Global EV Sales
- Global plug-in electric vehicle sales reached 14 million units in 2023, up 35% from 10.2 million in 2022.
- In 2022, worldwide BEV sales totaled 7.3 million units, accounting for 72% of all EV sales.
- Global PHEV sales hit 3.7 million units in 2023, growing 30% year-over-year.
- Electric vehicle market share of new car sales globally was 18% in 2023.
- Cumulative global EV sales surpassed 40 million units by end of 2023.
- In Q4 2023, global EV sales reached 4.1 million units, a record quarterly figure.
- Global EV sales grew 65% in 2021 to 6.6 million units.
- By 2020, global EV sales stood at 3 million units, doubling from 2019.
- In 2019, worldwide plug-in vehicle deliveries were 2.1 million.
- Global EV sales in Q1 2024 exceeded 2.5 million units.
- BEV sales globally in 2021 were 4.6 million units.
- PHEV global sales in 2021 reached 2 million units.
- Global EV stock reached 26 million by end-2022.
- In 2023, Asia accounted for 60% of global EV sales at 8.4 million units.
- Europe contributed 22% of global EV sales in 2023 with 3.1 million units.
- North America saw 1.4 million EV sales in 2023, 10% of global total.
- Global two-wheeler EV sales reached 10 million in 2023.
- EV bus sales globally were 500,000 units in 2023.
- Global EV sales per capita highest in Norway at 1 in 5 new cars in 2023.
- In 2023, global EV sales grew fastest in emerging markets at 50% YoY.
- Global light-duty EV sales hit 13.3 million in 2023 excluding two-wheelers.
- 2023 global EV sales by battery type: LFP batteries in 41% of vehicles sold.
- Global EV sales in 2018 were 2 million units.
- Q3 2023 global EV sales: 3.6 million units.
- Global EV sales forecast for 2024: 17 million units.
- In 2023, Tesla accounted for 19% of global EV sales with 1.8 million units.
- BYD global EV sales in 2023: 3 million units.
- Global EV sales growth slowed to 35% in 2023 from 55% in 2022.
- Cumulative BEV sales globally exceeded 30 million by 2023.
- Global PHEV sales share of total EV sales was 28% in 2023.
Global EV Sales Interpretation
The electric vehicle revolution has shifted from a polite cough to a deafening roar, with 2023's 14 million sales proving we're no longer just flirting with the future but moving in together.
US EV Sales
- US new light-duty EV sales reached 1.18 million units in 2023, up 50% from 2022.
- In California, EV sales were 578,000 units in 2023, 24% of state total.
- Tesla Model Y was top US EV seller in 2023 with 385,900 units.
- US BEV sales in 2023: 775,000 units, PHEV: 400,000.
- Ford sold 116,000 EVs in US in 2023, up 84%.
- GM US EV sales: 75,000 units in 2023.
- Rivian delivered 50,122 vehicles in US in 2023.
- US EV market share of new sales: 7.6% in 2023.
- Q4 2023 US EV sales: 334,000 units.
- 2022 US EV sales: 800,000 units.
- Tesla US sales 2023: 654,000 units.
- Hyundai US EV sales 2023: 76,000 units.
- US EV registrations grew 40% YoY in Q1 2024.
- Florida EV sales 2023: 100,000 units.
- Texas EV sales 2023: 85,000 units.
- US used EV sales 2023: 200,000 units.
- Chevrolet Bolt US sales 2023: 35,000 units.
- US EV sales per capita highest in California: 14.5 per 1000 people in 2023.
- Q3 2023 US EV sales: 277,000 units.
- Kia US EV sales 2023: 32,000 units.
- US EV incentives boosted sales by 15% in 2023.
- Volkswagen US EV sales 2023: 20,000 units.
- US EV fleet sales 2023: 50,000 units.
- 2023 US EV sales by powertrain: BEV 66%, PHEV 34%.
- Nissan US EV sales 2023: 25,000 units.
- US EV sales forecast 2024: 1.4 million units.
- BMW US EV sales 2023: 28,000 units.
US EV Sales Interpretation
While California remains the king of electric cars, with Tesla leading the charge and other brands fighting for scraps of the growing pie, the rest of America is starting to cautiously poke the EV with a stick, intrigued by the incentives and growing options.
Sources & References
- Reference 1IEAiea.orgVisit source
- Reference 2EV-VOLUMESev-volumes.comVisit source
- Reference 3BLOOMBERGbloomberg.comVisit source
- Reference 4STATISTAstatista.comVisit source
- Reference 5CLEANTECHNICAcleantechnica.comVisit source
- Reference 6INSIDEEVSinsideevs.comVisit source
- Reference 7BLOOMBERGNEFbloombergnef.comVisit source
- Reference 8ACEAacea.autoVisit source
- Reference 9TRIDENSTECHNOLOGYtridenstechnology.comVisit source
- Reference 10BYDbyd.comVisit source
- Reference 11COXAUTOINCcoxautoinc.comVisit source
- Reference 12ENERGYenergy.ca.govVisit source
- Reference 13CARPROcarpro.comVisit source
- Reference 14ELECTREKelectrek.coVisit source
- Reference 15MEDIAmedia.ford.comVisit source
- Reference 16NEWSnews.gm.comVisit source
- Reference 17RIVIANrivian.comVisit source
- Reference 18KELLEYBLUEBOOKkelleybluebook.comVisit source
- Reference 19TESLARATIteslarati.comVisit source
- Reference 20HYUNDAIhyundai.newsVisit source
- Reference 21EXPERIANexperian.comVisit source
- Reference 22EVADOPTIONevadoption.comVisit source
- Reference 23EDMUNDSedmunds.comVisit source
- Reference 24MEDIAmedia.chevrolet.comVisit source
- Reference 25AFDCafdc.energy.govVisit source
- Reference 26KIAkia.comVisit source
- Reference 27NYTIMESnytimes.comVisit source
- Reference 28VWvw.comVisit source
- Reference 29FLEETNEWSfleetnews.comVisit source
- Reference 30WARDSAUTOwardsauto.comVisit source
- Reference 31USAusa.nissannews.comVisit source
- Reference 32SPGLOBALspglobal.comVisit source
- Reference 33BMWUSANEWSbmwusanews.comVisit source
- Reference 34KBAkba.deVisit source
- Reference 35OFVofv.noVisit source
- Reference 36SMMTsmmt.co.ukVisit source
- Reference 37CCFAccfa.frVisit source
- Reference 38JATOjato.comVisit source
- Reference 39BOVAGbovag.nlVisit source
- Reference 40MOBILITYSWEDENmobilitysweden.seVisit source
- Reference 41VOLKSWAGEN-NEWSROOMvolkswagen-newsroom.comVisit source
- Reference 42PRESSpress.bmwgroup.comVisit source
- Reference 43GROUPgroup.mercedes-benz.comVisit source
- Reference 44UNRAEunrae.itVisit source
- Reference 45ANIACAaniaca.esVisit source
- Reference 46REUTERSreuters.comVisit source
- Reference 47DANSKINDATAdanskindata.dkVisit source
- Reference 48MEDIAmedia.renaultgroup.comVisit source
- Reference 49AUTOVISTA24autovista24.autovistagroup.comVisit source
- Reference 50FEVIAfevia.beVisit source
- Reference 51AKak.fiVisit source
- Reference 52ACAPacap.ptVisit source
- Reference 53AIROairo.ieVisit source
- Reference 54CAAMcaam.org.cnVisit source
- Reference 55BYDGLOBALbydglobal.comVisit source
- Reference 56CNEVPOSTcnevpost.comVisit source
- Reference 57CARNEWSCHINAcarnewschina.comVisit source
- Reference 58IRir.lixiang.comVisit source
- Reference 59MARKLINESmarklines.comVisit source
- Reference 60GLOBALglobal.geely.comVisit source
- Reference 61NIOnio.comVisit source
- Reference 62HEYXPENGheyxpeng.comVisit source
- Reference 63GLOBALglobal.zeekr.comVisit source
- Reference 64CHINABUSESchinabuses.orgVisit source
- Reference 65SHANGHAIshanghai.gov.cnVisit source
- Reference 66BJSTATSbjstats.gov.cnVisit source
- Reference 67CHERYINTERNATIONALcheryinternational.comVisit source
- Reference 68LEAPMOTORleapmotor.netVisit source
- Reference 69GACGROUPgacgroup.comVisit source
- Reference 70ABOUTabout.bnef.comVisit source
- Reference 71WRIwri.orgVisit source
- Reference 72MCKINSEYmckinsey.comVisit source
- Reference 73BLONDEFINANCIEROblondefinanciero.comVisit source
- Reference 74IRENAirena.orgVisit source
- Reference 75NITIniti.gov.inVisit source
- Reference 76BNEFbnef.comVisit source
- Reference 77ACT-NEWSact-news.comVisit source
- Reference 78TOYOTA-GLOBALtoyota-global.comVisit source
- Reference 79PWCpwc.comVisit source
- Reference 80IDBidb.orgVisit source
- Reference 81QUALCOMMqualcomm.comVisit source
- Reference 82NRELnrel.govVisit source