One in 5 vehicles sold in the world this year will be electric

The number of electric vehicles sold is expected to reach 14 million, an increase of 35 percent over 2022, and one in 5 vehicles sold will be electric.

According to the Global Electric Vehicle Outlook report from the International Energy Agency (IEA), sales of electric vehicles in the world increased last year by 55 percent, breaking a record compared to 2021, exceeding 10 million. The share of electric vehicles in total vehicle sales rose to 14 percent. This rate stood at 4% and 9% in 2020 and 2021, respectively.

Global sales of electric vehicles have grown from one million in 2017 to 10 million in 2022.

Spending on electric vehicles last year reached $425 billion, an increase of 50 percent from 2021. Government subsidies accounted for just 10 percent of this spending, while consumers accounted for 90 percent. The number of electric vehicle models on the market doubled last year compared to 2018 and reached 500.

The increase in EV sales in 2022 brought the number of EVs in use to 26 million. While China, Europe and the US stand out as the markets with the largest EV sales, 60 percent of global EV sales last year were in China.

After last year’s sales, 13.8 million of all electric vehicles in use are in China. Europe and the US are the second and third largest markets in this context.

TOP SALES IN GERMANY

The number of electric vehicle sales in Europe reached 2.7 million in 2022, an increase of 15 percent compared to the previous year. The share of electric vehicles in total vehicle sales in Europe increased from 18% in 2021 to 21% in 2022.

Among European countries, Germany was the country with the highest sales of electric vehicles last year, with 830,000. 370,000 electric vehicles were sold in the UK, 330,000 in France and 80,000 in Spain.

In Italy, although 140,000 electric vehicles were sold in 2021, this figure dropped to 115,000 last year. Austria, Denmark and Finland were also among the countries where sales declined.

Electric vehicle sales in the US approached one million last year, a growth of 55 percent compared to 2021. With this increase, the total number of EVs in the US reached 3 million, while the share of electric vehicle sales in 2022 in total vehicle sales was 8 percent.

Although most EV sales and production are concentrated in a few countries, India, Indonesia and Thailand in the Asian region were the countries with the largest increase in EV sales last year.

SALES IN Türkiye HAVE APPROXIMATELY DOUBLED

Last year, the total sales of electric vehicles in Turkey almost doubled compared to 2021, reaching 7,540. This figure was 3,920 in 2021.

The share of electric vehicles in the total vehicle market was 1% last year.

After last year’s sales, the total number of electric vehicles in use in Turkey exceeded 16 thousand.

THIS YEAR ONE IN 5 VEHICLES WILL BE ELECTRIC

In the first quarter of this year, 2.3 million electric vehicles were sold in the world, an increase of 25 percent compared to the same period of the previous year.

This number is expected to reach 14 million by the end of the year. This figure represents a 35 percent growth in electric vehicle sales compared to 2022.

It is anticipated that 18 percent of all vehicles sold globally this year, or about one in 5 vehicles, will be made up of electric vehicles.

While countries’ climate change plans and incentive programs are effective on EV sales, it is estimated that the share of EVs from China, the European Union, and the US in total vehicle sales it will reach 60 percent by 2030, depending on these plans.

HISTORICAL TRANSFORMATION IN THE AUTOMOTIVE

In his assessment of developments in the electric vehicle market, IEA President Fatih Birol stated that electric vehicles are one of the driving forces of the world’s rapidly growing “new energy economy”, saying: “Electric vehicles are leading a historic transformation in the global vehicle manufacturing industry.”

Noting that these developments had a significant impact on global oil demand, Birol said:

“Internal combustion engines have been unrivaled for over a century, but electric vehicles are changing the game. Electric vehicles will also eliminate the need for at least 5 million barrels of oil per day by 2030. Cars are just the first wave of this change, with electric buses and trucks soon to follow.” (AA)