Europe has surpassed China as the primary driver of EV growth. EV sales in Europe have surpassed NEV sales in China for the first time since 2015. Europe is further ahead in terms of EV share: BEVs+PHEVs increased from 3.3% in 2019 to 10.2% in 2020, including EU and EFTA countries such as the United Kingdom. During this time, China’s NEV share increased from 5.1% to 5.5%.
Outside of Europe, EV growth has been slower but still significant. China NEV sales rebounded strongly in the second half, increasing by 12% year on year. Despite the launch of the Tesla Model-Y, EV sales in the United States increased by only 4%. Other markets saw mixed fortunes, with declines in Japan, Canada, and Australia offset by gains in South Korea, Taiwan, India, Israel, the United Arab Emirates, and Hong Kong.
EV-Volumes believes that these positive developments merit early reporting, even if the final figures may show very minor changes of less than 0.5%. As the results become more concrete, we will update this post and provide more regional analysis.
