Media Reports, page-3414

In December, global registrations of plug-in electric cars reached another all-time record, although the growth rate barely outpaced the overall car market.

According to EV-Volumes data, shared by researcher Jose Pontes, 1,556,728 new passenger plug-in electric cars were registered globally in December (about 23% more than a year ago). The previous record of 1,385,104 was set in November. The market share amounted to roughly 22% (compared to 21% a year ago).

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Global EV sales record

More than 13.6 million plug-in electric cars were registered around the world in 2023. That's about 16% of all car registrations.

All-electric car registrations increased roughly 20% year-over-year in December, exceeding 1 million units for the very first time. However, the market share of 15% remains basically the same as in December 2022.

Plug-in hybrid car registrations increased by some 31% to over 470,000, we estimate. That's a new monthly record, in part achieved thanks to China where PHEV sales are expanding fast.

Plug-in car registrations for the month (YOY change):

• BEVs: about *1,084,000 (up 20%) and 15% market share
• PHEVs: about *470,000 (up 31%) and 7% market share
• Total: 1,556,728 (up 23%) and 22% market share

* estimated

Global Plug-In Electric Car Sales – December 2023

In 2023, almost 13.7 million plug-in electric cars have been registered around the world, which is 16% of the total volume (compared to 14% in 2022, 9% in 2021 and 4% in 2020). That's the best year for rechargeable cars ever.

All-electric car registrations amounted to a record 9,493,040 (up 30% year-over-year) and 11% market share (compared to 10% in 2022 and 6.1% in 2021).

Plug-in hybrid car registrations increased faster, by 47% year-over-year to almost 4.2 million units (new record) and 5% market share.

Plug-in car registrations January-December 2023 (YOY change):

• BEVs: about *9,493,040 (up 30%) and 11% market share
• PHEVs: about *4,196,251 (up 47%) and 5% market share
• Total: 13,689,291 (up 35%) and 16% market share

For reference, in 2022, more than 10 million new passenger plug-in electric cars were registered globally for the very first time.

The plug-in electric car sales expanded at a healthy rate, although their market share improved only slightly compared to 2022. That's because the general car market also rebounded.

In the US:

In 2023, all-electric car registrations in the United States exceeded 1.1 million for the very first time, far outpacing the growth rate of the overall car market. While questions remain about EV demand in 2024, there's no doubt that last year was a landmark one for electric adoption.

According to the registration data from S&P Global Mobility (via Automotive News), battery-electric cars made up 7.7% of total new, light-duty vehicle registrations in 2023. That's up from 5.7% the year prior.