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Global sales of fully electric and plug-in hybrid vehicles (PHEVs) are set to grow 31% in 2023, down from 60% growth in 2022, according to market research firm RHO Motion.
“The pace of growth is slowing, but that’s to be expected in growing markets like this,” Rowe Motion data manager Charles Lester told Reuters. “You can’t double every year.”
Lester said global EV sales last year were largely in line with the 30% growth that RHO Motion had projected. For 2024, the firm estimates global EV sales will grow between 25% and 30%.
RHO Motion said sales reached a monthly record of 1.5 million units in December.
Of the 13.6 million EVs sold worldwide in 2023, 9.5 million were fully electric or battery electric vehicles (BEVs), with the rest being PHEVs.
After years of accelerating development, some automakers fear that sales of electric cars could slow in Europe and elsewhere as drivers wait for better, smaller and cheaper models, which may be available in two to three years. Have closed after.
BEV sales increased 50% in the US and Canada, and 27% and 15% in Europe and China, respectively.
Germany’s sudden decision last year to give up EV subsidies could hurt sales in Europe in 2024, Lester said.
RHO Motion said only 8% of Europe’s BEV sales were in the small car segment, although this should start to change with the arrival of smaller models such as Stellantis’s Citroen EC3, which is due to go on sale this year.
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