Global electric vehicle market grew 29.0 percent annually in April 2022

The global electric vehicle (EV) market sales in the first quarter far outperformed expectations although many EV automakers increased the prices of their models in response to rising raw material costs. However, coupled with lockdowns in some regions in China due to its Zero-Covid policy, this exacerbated supply chain constraints and weakened April sales prospects. According to Researcher and Research LLC, the global EV market sold 540,952 units in April 2022, with a year on year (YoY) growth of 29.0% and a month on month (MoM) decline of 33.0%. The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 69.8% and 30.2%, respectively, compared with 66.0% and 34.0% of the same period last year, BEV showed a slight growth.   Figure 1  Sales units of the global top 10 EV sales countries in April 2021 vs April 2022   China, the US, Germany, France, the

2022-05-14T05:50:51-07:00May 16th, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , , |

Global electric vehicle market grew 70.7 percent annually in Q1 2022

According to Researcher and Research LLC, the global electric vehicle (EV) market grew to 2.004 million units in the first quarter of 2022, with a year on year (YoY) growth of 70.7%, as shown in figure 1.   Figure 1  Global quarterly EV sales and annual growth rates, Q1'21-Q1'22   The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 72.8% and 27.2%, respectively, compared with 67.5% and 32.5% of the same period last year, BEV was on a rise. In terms of EV sales volume and market shares in major countries, China remains the world's largest EV sales country, with an annual growth rate of 145.0% and a market share of 56.5%, up significantly from 39.4% in the same period last year. With annual growth of 61.1%, the US had overtook Germany to become the world's second-largest market by sales, as shown in figure

2022-04-16T20:48:04-07:00April 18th, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , |

Global electric vehicle market grew 91.7 percent annually in February 2022

According to Researcher and Research LLC, global electric vehicle (EV) market grew to 543,818 units in February , with a year on year (YoY) growth of 91.7%. The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 69.7% and 30.3%, respectively, compared with 64.7% and 35.3% of the same period last year, BEV was on a rise. In terms of EV sales volume and market shares in major countries, China remains the world's largest EV sales country, with an annual growth rate of 182.8% and a market share of 54.3%, up significantly from 36.8% in the same period last year, as shown in figure 1. With annual growth of 65.9%, the US continued overtaking Germany to maintain the world's second-largest market by sales, with its market share falling to 11.0% from 12.7% in the same period last year. Germany, the third-largest sales country, grew 24.2% a

2022-03-18T05:23:08-07:00March 21st, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , |

Global electric vehicle market to grow year on year at 104.9% in January 2022

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

2022-04-04T05:55:10-07:00February 21st, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , |

The German electric vehicle market recorded negative monthly annual growth for the first time

In 2021, the German electric vehicle (EV) market was second only to China, with 681,410 units registered and an annual growth rate of 72.8%, making it the second-largest EV sales country globally and the largest in Europe.   Figure 1  Monthly EV registrations in Germany, 2020-2021   The German EV market was dominated by plug-in hybrid electric vehicle (PHEV) until August 2021, after which it was led by battery electric vehicle (BEV), as shown in figure 1. The proportion of BEV in the German market by month was over 50% in March, September, December 2020, and June and August-December 2021. We believe that this is because Tesla delivered a large number of cars in these months, leading to notably higher BEV sales figures than other months. On a full-year basis, the proportion of BEV and PHEV sales in the German EV market in 2021 was 52.2% and 47.8%, respectively,

2022-02-13T22:44:37-08:00February 11th, 2022|Categories: Global EV Snapshot|Tags: , |
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