The number of electric cars globally has seen significant growth, with a 60% increase from 2021 to 2022, reaching 26 million vehicles on the road. By the end of 2023, this number had risen to 40 million, with global electric car sales reaching almost 14 million, a 35% increase from 2022. The growth is expected to continue, with predictions of 17 million sales by the end of 2024, accounting for 20% of total car sales.
China leads the market with over 23.4 million electric cars, followed by the United States with 4.8 million, Germany with 2.3 million, France with 1.6 million, and the United Kingdom with 1.5 million. The market is driven by increasing consumer demand, with carmakers responding by expanding their electric vehicle offerings. In 2023, there were 590 electric car models available, a 15% increase from the previous year, and this number is expected to reach 1,000 models by 2028.
In the United States, electric vehicle sales reached a record 1.2 million in 2023, with a market share of 7.6%. The market is expected to continue growing, with forecasts suggesting a 10% market share by the end of 2024. Tesla remains the leading electric vehicle manufacturer in the U.S., capturing 55% of the EV market in 2023.
Despite the growth, some car manufacturers have noticed a decrease in demand for fully electric vehicles, leading to adjustments in their electrification plans. Additionally, some car dealers in Germany have expressed hesitation in trading electric vehicles due to difficulties in selling them.
