Electric Vehicle Sales Review Q2 2023

In almost all major markets, BEV sales grew far more than the total light vehicle market. In the ten Western European focus markets, BEV sales increased by 49% in the second quarter of 2023 in comparison with the equivalent period last year, whereas the total market grew by 17%.

Covid-19 lockdowns and the resulting shortages from supply chain delays created an upward pressure on prices. However, as supply has now stabilized and production is increasing, competition among OEMs to attract mainstream consumers is leading to price reductions. Significant discounts are expected to remain in place for the foreseeable future as the scramble for consumers and economies of scale continues.

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BEV prices fall as OEMs fight to attract mainstream consumers

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