Global EV sales continued to exhibit prominent growth in 2022, amounting to 9.78 million units, as opposed to the overall automotive sales worldwide that again came short of expectation.
The volumes of EVs sold in China and the US soared more than 70% and 40% from a year ago, respectively, while European EV sales only showed a single-digit growth. Global EV sales are projected to exceed 14 million units in 2023 with the China and US markets still to perform brilliantly and Europe to see moderate growth again.
According to the statistics from automobile associations around the world, 2022 global automotive sales came to 81 million units, representing only a 5% increase in the midst of the chip shortage. In contrast, 2022 global EV sales surged 49%. China, Europe and the US are the top-3 EV markets, with China accounting for more than 60% of the worldwide market.
Chart 6: Global EV sales and penetration rate, 2019-2025 (k units)