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Automotive Industry: Current State of EV Sales: Difference between revisions
Automotive Industry: Current State of EV Sales (view source)
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== EV Outlook == | == EV Outlook == | ||
=== International Energy Agency === | === Gartner (September, 2023) === | ||
* Gartner forecasts that EV sales will grow by '''34% year-over-year to 15.4 million vehicles in 2023''' and by '''20% year-over-year to 18.5 million vehicles in 2024'''<ref>https://www.gartner.com/en/newsroom/press-releases/2023-09-07-gartner-forecasts-15-million-electric-cars-will-be-shipped-in-2023</ref>. | |||
* Proportion of EV models to total vehicles will be more than 50% by 2030, according to Gartner. | |||
=== International Energy Agency (April, 2023) === | |||
According to International Energy Agency(IEA), the electric car market is seeing exponential growth<ref name=":1">https://iea.blob.core.windows.net/assets/dacf14d2-eabc-498a-8263-9f97fd5dc327/GEVO2023.pdf</ref>. Here is a summary of its Global EV Outlook 2023 publication. | According to International Energy Agency(IEA), the electric car market is seeing exponential growth<ref name=":1">https://iea.blob.core.windows.net/assets/dacf14d2-eabc-498a-8263-9f97fd5dc327/GEVO2023.pdf</ref>. Here is a summary of its Global EV Outlook 2023 publication. | ||
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==== EV Sales Outlook ==== | ==== EV Sales Outlook ==== | ||
* Electric car sales is expected to grow by 35% year over year in 2023 to 14 million vehicles. | * Electric car sales is expected to '''grow by 35% year over year in 2023 to 14 million vehicles.''' | ||
* In Q1 of 2023, more than 2.3 million electric cars were sold, representing a growth rate of 25% year over year. | * In Q1 of 2023, more than 2.3 million electric cars were sold, representing a growth rate of 25% year over year. | ||
* Therefore, electric car sales is expected to account for 18% of total car sales in 2023. | * Therefore, electric car sales is expected to account for 18% of total car sales in 2023. | ||
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* Europe electric car sales grew by around 10% year over year in Q1 of 2023. IEA expects Europe electric car sales to increase by 25% year over year in 2023. | * Europe electric car sales grew by around 10% year over year in Q1 of 2023. IEA expects Europe electric car sales to increase by 25% year over year in 2023. | ||
* Based on IEA Stated Policies Scenario (STEPS), the initial global share of electric vehicles was projected to be less than 25% in 2030. But the outlook has now been raised to 35% in 2030. | * Based on IEA Stated Policies Scenario (STEPS), the initial global share of electric vehicles was projected to be less than 25% in 2030. But the outlook has now been raised to '''35% in 2030.''' | ||
=== Goldman Sachs === | === Goldman Sachs (February, 2023) === | ||
According to Goldman Sachs report, EV sales will account for half of new car sales worldwide by 2035 as the world accelerates its push for net-zero carbon emissions<ref name=":0">https://www.goldmansachs.com/intelligence/pages/electric-vehicles-are-forecast-to-be-half-of-global-car-sales-by-2035.html</ref>. | According to Goldman Sachs report, '''EV sales will account for half of new car sales worldwide by 2035''' as the world accelerates its push for net-zero carbon emissions<ref name=":0">https://www.goldmansachs.com/intelligence/pages/electric-vehicles-are-forecast-to-be-half-of-global-car-sales-by-2035.html</ref>. | ||
==== EV Sales Outlook ==== | ==== EV Sales Outlook ==== | ||