18% of the vehicles that will be sold in the world in 2023 will be electric

Sales of electric vehicles in the world, which last year increased by 55% to exceed the 10 million mark, 14% of the total, will grow again by 35% in 2023, when they will represent 18%.

In its annual report on the electric vehicle market published this Wednesday, the International Energy Agency (IEA) explains that in 2022 there was a park of 26 million units, five times more than in 2018, and more than half (13.8 million) were in China.

As has been the case for ten years, the Asian giant was by far the first market in the world in 2022 with a 60% of registrations.

Taking into account that total vehicle sales in China decreased by 3% in 2022, the continuous pull of the electric ones caused its specific weight to increase by 29%compared to 16% in 2021. In 2018 they did not reach 6%.

In other words, the objective of the twenty% the authorities had set for 2025. The upward trend should continue (the new target is 40% by 2030, the fifty% in the regions with the most polluted air), in view of the fact that in the first quarter, the increase in sales has been higher than the twenty% compared to the same period last year.

The authors of the study estimate that this year it will end with some 8 million electric vehicles sold in China, and that this will represent a share of around 35%.

Progression in Europe will increase to 25% this year

In Europe, the registrations of electric vehicles, in a context of withdrawal of the sector, progressed a fifteen% last year (they had done it a 65% in 2021 and a 40% annual average in the period 2017-2019) up to 2.7 million.

In other words, the Old Continent was the second world market with a quarter of the total, and the 30% of these vehicles.

In Europe, the first market in importance in volume last year was Germany (830,000 units), well ahead of the United Kingdom (370,000) and France (330,000). Spain stayed at just over 80,000.

In relative terms, the countries in which electric vehicles weighed the most in vehicle sales last year were Norway (88%), Sweden (54%), Netherlands (35%), Germany (31%), United Kingdom (23%) and France (twenty-one%).

For this year, after a first quarter with a limited rise to 10% Compared to the same period in 2022, the year should end with an increase of around 25%.

The United States, which is the third most important market, had faster growth in relative figures in 2022 than the first two, from 55% with 800,000 units and a share of almost the 8%after the 5% of 2021 and just a 2% between 2018 and 2020.

This was possible thanks to the multiplication of the supply of new models by manufacturers and the incentives for this type of motorization, which have accelerated in recent months with the massive aid plan of the Inflation Reduction Act (IRA) of the President Joe Biden.

Massive investments in the US

Between August 2022 and March 2023, the large manufacturers of electric vehicles and batteries have announced investments of 52,000 million euros in North America.

All of this suggests that the explosion that took place last year is going to continue, at least in the short term: in the first quarter the jump in sales was of 60% and the IEA estimates that 1.5 million will be placed in all of 2023, a 12% of registrations.

In the rest of the world, there are positive trends in some regions where there have already been significant expansions in 2022, such as India or Indonesia, where sales more than tripled.

But for those responsible for the study, electric vehicles will continue to account for a small fraction there, with a 23% of total registrations despite a rise in fifty% of sales, up to 900,000.

Source: EFE