Electric Vehicle Sales Review Q1 2023

Although BEV sales in all 19 analyzed markets increased by 24% in the first quarter of 2023, in comparison with the corresponding quarter last year, the growth fell some way short of the stellar figures from recent years. This is mainly due to the sharp reduction in BEV sales growth in China during this period. Given the overwhelming dominance of the Chinese market, which accounted for 62% of BEV sales in all analyzed markets combined, any slackening of growth in that country has an inevitable impact on global figures.

A major BEV growth area in the future will undoubtedly be the fleet market. However, to maximize this opportunity, OEMs will need to produce more electric equivalents of popular fleet models.

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From 2024, every third commercially registered car could be an electric vehicle.

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