Passenger electric cars are surging in popularity - we estimate that almost one in five new cars sold in 2023 will be electric. Ambitious policy announcements continue to be critical to growth in electric vehicle markets worldwide.Read more
Economic incentives and regulatory measures are often coupled with other policies that increase the value proposition of EVs. Such policies often aim to harness the multiple co-benefits arising from greater electrification of transport, most prominently energy diversification in a sector that is 90% dependent on oil products and the reduction of local pollutant and GHG emissions. Measures that provide crucial incentives to scale up the availability of vehicles with low and zero tailpipe emissions include fuel economy standards, zero-emission vehicle mandates and the rise in the ambition of public procurement programmes.
Regulatory measures related to charging infrastructure include minimum requirements to ensure "EV readiness" in new or refurbished buildings and parking lots, deployment of publicly accessible chargers in cities and on highway networks, and are complemented by requirements regarding inter-operability and minimum availability levels for publicly accessible charging infrastructure.
Last updated Apr 27, 2023
Electric car sales, 2016-2023Open
Electric car sales break new records with momentum expected to continue through 2023
EV sales are expected to continue strongly through 2023. Over 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last 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. As a result, electric cars could account for 18% of total car sales across the full calendar year. 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.
Based on current trends, the rollout of electric vehicles is set to avoid the need for 5 million barrels of oil a day by 2030.
Electric car registrations and sales share in China, United States and Europe, 2018-2022Open
Three major markets dominated global EV sales in 2022
In 2022, three markets dominated global sales.
China was the frontrunner once again, accounting for around 60% of global electric car sales. In Europe, electric car sales increased by over 15% in 2022, meaning that more than one in every five cars sold was electric. Electric car sales in the United States increased 55% in 2022, reaching a sales share of 8%.
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By 2030 EVs represent more than 60% of vehicles sold globally, and require an adequate surge in chargers installed in buildings
Part of Technology and innovation pathways for zero-carbon-ready buildings by 2030
In operation since 1993, the HEV TCP provides a forum for global co-operation on the development and deployment of electric vehicles. It supplies objective information to support decision making, functions as a facilitator for international collaboration in pre-competitive research and demonstration projects, fosters international exchange of information, and it can promote projects and programmes for research, development, demonstration and deployment.