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Global EV sales Reached over 3,2 Million in 2020

In the end, 2020 proved to be an excellent year for plug-in vehicles. With only a few details yet to be released, we anticipate global BEV+PHEV sales of 3,24 million, up from 2,26 million the previous year. What began as an unprecedented economic downturn during the first COVID-19 wave ended up being a success story for EVs in Europe. In 2020, nearly 1.4 million BEVs and PHEVs were registered in Europe, 137% more than in 2019, despite a 20% year-on-year decline in the vehicle market. It was a combination of new appealing models, incentive boosts from green recovery funds, the 95g CO2 mandate, greatly improved availability, and aggressive EV promotion.

Reported by EV-Volumes

Europe has surpassed China as the primary driver of EV growth. EV sales in Europe have surpassed NEV sales in China for the first time since 2015. Europe is further ahead in terms of EV share: BEVs+PHEVs increased from 3.3% in 2019 to 10.2% in 2020, including EU and EFTA countries such as the United Kingdom. During this time, China’s NEV share increased from 5.1% to 5.5%.

Outside of Europe, EV growth has been slower but still significant. China NEV sales rebounded strongly in the second half, increasing by 12% year on year. Despite the launch of the Tesla Model-Y, EV sales in the United States increased by only 4%. Other markets saw mixed fortunes, with declines in Japan, Canada, and Australia offset by gains in South Korea, Taiwan, India, Israel, the United Arab Emirates, and Hong Kong.

EV-Volumes believes that these positive developments merit early reporting, even if the final figures may show very minor changes of less than 0.5%. As the results become more concrete, we will update this post and provide more regional analysis.

Source: Global EV sales Reached over 32 Million in 2020 | EV-Volumes
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Reported by EV-Volumes

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