Q&A: How Have Electric Vehicle Sales Trended Over Time?

Q&A: How Have Electric Vehicle Sales Trended Over Time?
Reda Farran, CFA

almost 3 years ago1 min

Question from Finimizer James: “What percentage of total car sales are electric, and how’s it been trending over time?”

Answer from analyst Reda “Let’s start by rewinding a bit, James. According to electric vehicle tracking website EV-Volumes.com, sales of plug-in electric vehicles (PEVs) – which include both pure battery electric vehicles and plug-in hybrids – represented 0.6% of total car sales back in 2015. Over the next four years, PEVs’ market share steadily increased, reaching 2.5% in 2019. Fast forward to last year, and that jumped to 4.2%, driven by a near tripling of sales in Europe. That’s higher than what analysts were predicting a few years ago: research provider Bloomberg New Energy Finance, for example, said in 2018 that PEVs’ share in 2020 would be just 3%.”

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