According to Researcher and Research LLC, despite the negative impact of global shortages of automotive chips, global electric vehicle (EV) market grew to 652,733 units in January, with a year on year (YoY) growth of 104.9%.
The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 73.1% and 26.9%, respectively, compared with 69.1% and 30.9% of the same period last year. BEV had grown more and its mainstream status was firmly established.
In terms of EV sales volume and market share in major countries, China remains the world’s largest EV sales country, with an annual growth rate of 137.5% and a market share of 58.2%, up from 50.2% in the same period last year, as shown in figure 1. With annual growth of 118.9%, the US overtook Germany to become the world’s second-largest market by sales, with its market share rising to 8.2% from 7.7% in the same period last year. Germany, the third-largest sales country, grew 7.8% a year and its market share fell to 6.1% from 11.6%. The proportion of the top three countries increased to 72.5% from 69.5% in the same period last year.
Fourth place went to the UK, with an annual growth rate of 89.6% and a market share of 3.6%, down from 3.9% a year earlier. Followed by France, with a yearly growth rate of 23.9%, and its market share slipped from 4.6% to 2.8%. The share of the top five countries rose to 78.9% from 78.0% in the same period last year.
In the sixth to tenth place sales countries, Sweden, Italy, Norway, and the Netherlands had very similar market shares, ranging from 1-2%. Among them, only Norway recorded a 13.4% decline in annual growth, while the rest showed positive development, but individual growth rates were lower than that of the global market. Japan, which made the list for the first time, grew at an annual rate of 116.2%. The proportion of the top 10 was close to that of the same period last year, but only China increased significantly, the US and Japan grew slightly, while the rest of the countries showed a decrease in proportion.
Figure 1 Sales units of the global top 10 EV sales countries
In terms of EV and BEV penetration among major countries, Norway had the highest EV penetration in the world, growing to 90.5% from 80.7% in the same period last year, and remarkably, Norway also had the highest BEV penetration in the world, rising from 53.0% to 83.7%, as shown in figure 2. In January this year, the proportion of its BEV sales increased from 65.7% in the same period last year to 92.5%. In contrast, Japan had the lowest penetration among the top 10 countries, with EV and BEV penetration rates growing from 1.3% and 0.5% to 3.1% and 0.9%, respectively; and the proportion of PHEV sales in Japan was very different from the development in other countries, growing from 58.8% to 70.5%.
The penetration rates of both EV and BEV in Italy were the third-lowest among the top ten countries, only ahead of the US and Japan. The proportions increased from 4.6% and 1.8% to 8.4% and 3.4%, respectively. Italy also had the second-highest proportion of PHEV sales in the top ten countries, second only to Japan; in January this year, it was still 59.9%, the same as a year earlier.
EV penetration in Germany was flat at 21.6%, but its BEV penetration grew from 9.6% to 11.3%, indicating a gradual shift from PHEV to BEV-dominated in the German EV market. The UK, France, and Sweden had all seen significant growth in EV and BEV penetration. Like Germany, these three EV sales countries were in the process of moving from a PHEV-dominated market to a BEV-dominated market, but the proportion of BEV in the UK had grown more significantly, reaching 61.5%.
China’s EV and BEV penetration rates grew from 7.6% and 6.4% last year to 17.8% and 14.1% this year. In the US, the penetration increased from 2.2% and 1.6% to 5.4% and 4.1%. The Netherlands, which always has the highest penetration in the last month of each year, continued its usual pattern of declining EV and BEV penetration in January, with PHEV sales dominating.
Figure 2 Changes in EV and BEV penetration rates of the global top 10 EV sales countries
The global EV market is expected to reach 10.702 million units in 2022, representing an annual growth rate of 67.5%. For now, the supply chain still appears to be the biggest obstacle to EV market growth in 2022. While the supply chain will affect the global EV sales, the impact of the supply chain is not uniform across automakers and sales countries, which will lead to more significant differences in development between automakers or countries.
Researcher and Research here defines EV as battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV), with passenger car as the primary purpose.