EV Sales Keep Up Growth in 2022
Report shows pace of adoption building as ICE vehicles wane.
EV deliveries totaled 10.3 million last year, easily outpacing the 6.5 million in 2021.
IMAGE: Mikes-Photography
Electric vehicle sales continued to rise in 2022 and will stay on that trajectory this year, though at a slower pace, according to BloombergNEF analysis.
Worldwide EV deliveries totaled 10.3 million last year, the research provider reported, easily outpacing the 6.5 million in 2021. It projects they could reach 13.6 million this year, by far the greatest share in China. That’s up from 3.2 million in 2020.
U.S. EV sales should jump this year to 1.6 million plug-in vehicles, Bloomberg says, due to expanded production capacity and new federal tax credits.
Since “range anxiety” affects consumer adoption, the growing number of EV chargers could have an impact on demand. Charger installations more than doubled last year to nearly a million, the report said. It predicts that the worldwide network will grow this year to more than four million chargers.
Global EV sales are projected to grow 20.6 million in 2025, Bloomberg said. Rising battery costs won’t curb adoption, it said, because factors affecting prices are also pressuring gas and diesel prices, which are fueling increased demand for EVs.
Increasing EV adoption means worldwide combustion vehicle sales peaked in 2017 and are now in permanent decline, Bloomberg said.
Originally posted on Auto Dealer Today
More Showroom
Slow to Robo
Ten years of polling consumers shows autonomous vehicles’ profiles have risen considerably, but even more people now want at least some level of control if they go that route.
Read More →
Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
Read More →
European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →
California Hybrids Reach State Record
The Golden State still leads the country in electric-vehicle registrations, but much like the rest of the U.S. its hybrid market share is up while full electrics stabilize after a dramatic first-quarter dip.
Read More →
My Mercedes in the U.S.
The German brand debuted its studio dealership concept for the first time in the states in Los Angeles, tapping Americans’ penchant for creative distinctions.
Read More →
Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
Read More →
California Launches EV Rebate Program
Participating automakers are matching the state's $13.5 million investment in new electric-vehicle rebates scheduled to take effect later this summer.
Read More →