![]() In India, EV and component manufacturing is ramping up, supported by the government’s USD 3.2 billion incentive programme that has attracted investments totalling USD 8.3 billion. For Thailand, the share of electric cars in total sales came in at slightly over 3% in 2022, while both India and Indonesia averaged around 1.5% last year. Collectively, sales of electric cars in these countries more than tripled compared to 2021, reaching 80 000. ![]() Electric car sales are generally low outside the major markets, but 2022 was a growth year in India, Thailand and Indonesia. There are promising signs for emerging electric vehicle (EV) markets, albeit from a small base. National policies and incentives will help bolster sales, while a return to the exceptionally high oil prices seen last year could further motivate prospective buyers. As a result, electric cars could account for 18% of total car sales across the full calendar year. We currently expect to see 14 million in sales by the end of 2023, representing a 35% year-on-year increase with new purchases accelerating in the second half of this year. Over 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last year. Electric car sales in the United States – the third largest market – increased 55% in 2022, reaching a sales share of 8%.Įlectric car sales are expected to continue strongly through 2023. In Europe, the second largest market, electric car sales increased by over 15% in 2022, meaning that more than one in every five cars sold was electric. More than half of the electric cars on roads worldwide are now in China and the country has already exceeded its 2025 target for new energy vehicle sales. ![]() China was the frontrunner once again, accounting for around 60% of global electric car sales. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020. Electric car markets are seeing exponential growth as sales exceeded 10 million in 2022.
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