The proportion of BEV sales in the US reached 5% in Q4 2021 up to 8.1% in the last quarter of 2023, which is below the 12% global average for the same quarter.
Battery electric vehicle sales are starting to pick up in many parts of the world, and in Q4 2023, they reached or surpassed 5% of total sales in 31 countries. This is seen by analysts as a “tipping point” where EV sales could quickly shoot up to 25%. The world’s largest car markets—China, the United States and Europe—have all passed this point and show a clear upward trend in sales.
The US is no exception, passing 5% in Q4 2021, and the share of new cars that are full EVs increased to 8.1% in the last quarter of 2023. Cumulative PHEV and EV sales in the US for the entirety of 2023 rose to 9.1% of the total sales volume, which added up to 1.4 million vehicles and marked an over 50% increase year-over-year. Get the InsideEvs Newsletter Sign Up Today China still shows a rapid rate of growth in EV adoption after it passed 5% in Q4 2020. It went up now to 23.8% in Q4 2023.
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