Here’s How The Global EV Market Steadily Increased During A Pandemic

This article comes to us courtesy of EVANNEX, which makes and sells aftermarket Tesla accessories. The opinions expressed therein are not necessarily our own at InsideEVs, nor have we been paid by EVANNEX to publish these articles. We find the company’s perspective as an aftermarket supplier of Tesla accessories interesting and are happy to share its content free of charge. Enjoy!

Posted on EVANNEX on February 18, 2021 by Charles Morris

For most folks, 2020 won’t go down in history as a very good year, but for the auto industry, it was a turning point. Global sales of plug-in vehicles reached 3.24 million (as reported by EV-Volumes), compared to 2.26 million in 2019. That’s an upsurge of about 43%, which is all the more remarkable considering that overall global light vehicle sales fell by 14%.

Here's How The Global EV Market Steadily Increased During A Pandemic

Above: The transition to electric vehicles is starting to happen all over the globe (Source: EVANNEX; Photo by Casey Murphy)

The center of the action was Europe, which surpassed China as the motor of EV growth for the first time since 2015. Plug-in sales in Europe (EU countries plus the UK, Norway, Iceland and Switzerland) increased by 137% compared to 2019, while the overall vehicle market was down by 20%. Plug-in vehicles’ share of the overall auto market increased from 3.3% in 2019 to 10.2% in 2020.

The EU’s new, more stringent emissions requirement appeared to be the main driver of the boom, but incentive increases in several countries, and a wave of new models also contributed to the voltage surge.

Most of the action was in the second half of the year, and the sales frenzy reached fever pitch in December—EV capital Norway set a new record for the month, when 87% of new cars sold were plug-ins, and 66% pure EVs.

In China, sales of “new energy vehicles” (NEVs) recovered from a dismal first half to post a 12% gain for the year. The market share of NEVs showed a modest increase from 5.1% in 2019 to 5.5% in 2020.

The US continues to lag behind—plug-in sales increased by a paltry 4%, a figure that looks pretty good relative to the overall auto market’s loss of 15%. Tesla consolidated its domination of the US market—the California carmaker accounted for 79% of all pure EV sales. The inauguration of a new, more EV-friendly administration, combined with the impending launch of several electric pickups, seem bound to deliver a bigger sales surge in 2021.

Smaller auto markets were mixed. Plug-in sales actually fell in Japan (-28%) and Canada (-7%), but soared in South Korea (+55%) and Taiwan (+308%).

===

This article originally appeared in Charged. Author: Charles Morris. Source: EV-Volumes

Here's How The Global EV Market Steadily Increased During A PandemicSource

Share on facebook
Facebook
Share on twitter
Twitter
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments