Media reporting that EV adoption is in reverse is not evident in our monthly tracking. Global deliveries of BEVs and PHEVs increased by 3,66 million units over 2022 and all monthly sales were between 8 % and 52 % higher than in the year previous. 5 months of 2023 witnessed new all-time highs for EV sales, Market share increases were consistent throughout the year. The exception was Germany, Europe’s largest EV market, where a series of significant cuts in EV grants lead to s decline in EV sales and market shares. European EV registration were up by a meager +17 % vs 2022; excluding Germany, the increase was +32 %. China EV sales increased by +36 % in 2023 y/y, EV sales in USA and Canada were +46 % higher than the year previous. EV sales outside the aforementioned markets increased by +81 %, albeit from a low base.
Maybe not the latest report. But, unlike the media, the numbers don't lie. We are getting close to the time of springing back north in my opinion.
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