This report presents new car sales volumes (MarkLines aggregate data, excluding commercial vehicles; estimates are included) and analyzes sales trends of electric vehicles (BEV: battery electric vehicles / PHV: plug-in hybrid vehicles / FCV: fuel cell vehicles) in the global market in 14 countries, including 11 major countries, which account for approximately 80% of global car sales, and three Nordic countries (*Note).

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  11 major countries: China, U.S.A., Japan, India, Germany, France, Brazil, U.K., South Korea, Canada, Italy

  3 Nordic countries: Norway, Sweden, Finland

  These 14 countries account for about 90% of global electric vehicle sales.

 (Note 1) Aggregated on October 20, 2023
              Some corrections have been made to past vehicle data.
              The sales volume (shipment volume) for China are aggregate figures excluding exports.
              Share figures are based on the number of units in thousands.

 (Note 2) Reasons for high electrification rates in Nordic countries
              1. The population’s environmental awareness has always been high.
              2. A high percentage of electricity is generated from renewable energy sources such as hydroelectric power and wind power (awareness of the need to use abundant renewable energy for electric vehicles).
              3. Generous policies such as subsidies, tax incentives, and charging infrastructure development.
              4. A wide range of electric vehicle models is available.

  Sales of electric vehicles in the 11 major countries and the 3 Nordic countries of Norway, Sweden, and Finland (14 countries in total) totaled 1.149 million units in September. This is a 20.6% year-over-year (y/y) increase and a 5.7% month-over-month (m/m) increase. Electric vehicle sales increased only slightly, by 63,000 units, from the previous month, compared to growth in the overall auto market due to seasonal factors in the U.K. and other factors, and the electric vehicle market share fell by 1 percentage point from the previous month to 20.4%.

  Cumulative sales for the January to September period increased 30.9% y/y to 8.208 million units. The share of electric vehicles in the January-September total was 18.4%, up 2.8 points from 15.2% in the same period last year.

  HVs are showing an increasing trend. September HV sales increased by 30.8% y/y to 386,000 units, giving a market share of 6.9%. The cumulative total from January to September was 3.06 million units, an increase of 6.8% y/y, showing a steady increase over the past several months. A breakdown of the countries where HVs were sold shows that Japan accounted for 28.8%, the U.S. for 28.3%, and China for 20.5%. In the Japanese market, the number of HVs sold has traditionally been overwhelmingly higher than the number of electric vehicles sold. The changes in the scope of environmental credits in Germany since September, the approval of e-fuel (synthetic fuel) engine-equipped vehicles in Europe, and sales of not only BEVs and PHVs but also the reconsideration of HVs will continue to be closely monitored.