Electric Vehicle (BEV/PHV/FCV) Sales Monthly Report (December 2022)

Electric vehicle sales in December increased 52.4% y/y to 1.218 million units

2023/01/23

Share of electric vehicles (BEV/PHV/FCV)

  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) 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.

 

*Note: Vehicle data rounded off to the nearest thousand units

 

  Monthly sales of electric vehicles in the 11 major countries and the three Nordic countries of Norway, Sweden, and Finland (14 countries in total) totaled 1.218 million units in December, exceeding 1 million units for the second consecutive month from November. It was also a record high, up 174,000 units from the previous month. The year-over-year (y/y) increase was 52.4%, and the month-over-month (m/m) increase was 16.6%. Annual sales totaled 9.668 million units, up 62.7% from the previous year.

  The share of electric vehicles considering all powertrains was 22.5% in December, a further increase of 1.8 points from the previous month. The share of electric vehicles in total sales for the full year 2022 was 16.6%, up 6.3 points from 2021. The share of HVs was also up 0.7 points from the previous year to 5.6%, but the growth rate was moderate. (*Some corrections have been made to the historical volume data.)

 

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