What are the top 5 markets for EV sales in 2022, and which vehicles sold best? The future of driving is electric, and as expected, 2022 was another year of tremendous growth and innovation in the electric vehicle (EV) market. Analyzing sales data is one way to gauge which countries lead the charge in EV adoption.
Top 5 Markets for EV Sales in 2022
According to recent data, Mainland China, Europe, the United States, Norway, and Sweden are the top 5 markets for EV sales in 2022. Together, they represent most of the global EV market and offer valuable insights into what’s driving the growth of electric cars, buses, trucks, and vans.
- China – With 5.9 million units sold, China is the largest EV market globally, representing 59% of EVs sold worldwide. China’s government has demonstrated a strong commitment to promoting EVs as a way to reduce pollution and dependence on oil imports. The most popular type of EV sold in China was the electric car, with a total of 5.4 million units sold, representing 29% of the total automobile market, up from 15% in 2021. The largest rate of increase was observed in the sales of electric buses, which rose by 31% compared to the previous year.
- United States – With 750,000 units sold and a 5.6% share of total vehicle sales, the United States ranks second among the top countries for EV sales in 2022. Despite a drop in overall automotive sales, the US saw big growth in its EV market share, up 65 percent compared to 2021! The largest rate of increase was observed in the sales of electric trucks, which rose to 86,799 units. The iconic Ford F150 EV was so popular that the company could not meet consumer demand and sold 15,671 units.
- Norway – With a population of just over 5 million people, Norway is one of the world’s leading EV markets. In 2016, the country announced that all vehicles would be zero emission by 2025. In 2022, they reached the highest market penetration in the world, with 80% of the 153,144 new car registrations being electric. Since 2016, the Norwegian government has implemented a range of incentives, including tax breaks, toll exemptions, and free charging (at more than 22,000 chargers around the country), to encourage EV adoption.
- Germany – With 476,000 units sold and a 31% share of all new car sales, Germany ranks fourth among the top countries for EV sales in 2022. Germany’s government has set ambitious targets for EV adoption, including a goal of having 10 million electric cars on its roads by 2030. When combined with plug-in hybrid vehicles, the adoption rate really begins to tell an interesting story. The zero and low em mission car sector is up to 115% and 56% of the market share.
- France – With 219,800 units sold, France rounds out the top 5 countries for EV sales in 2022. France’s government has also set ambitious targets for EV adoption, including a goal of phasing out gasoline and diesel cars by 2040. The most popular EV type sold in France was electric cars, and the largest rate of increase was observed in the sales of electric LCVs, which rose by 44% compared to the previous year.
Implications and Future Outlook
These trends indicate that EVs are no longer a niche product but a rapidly growing automotive industry segment. As the world seeks to reduce greenhouse gas emissions and curb climate change, EVs are becoming an increasingly important part of the solution. The top 5 markets for EV sales in 2022 show that government policies, economic incentives, and consumer demand all contribute to this market’s success.
Looking ahead, there are several factors that could influence the future of EVs in these and other markets. For example, advances in battery technology, wireless charging infrastructure, and autonomous driving could make electric cars more affordable, convenient, and attractive to buyers. In addition, the shift towards renewable energy sources like wind and solar power will make charging EVs using clean electricity possible, further reducing their carbon footprint.
However, there are also challenges and obstacles to overcome. For instance, some consumers still perceive EVs as expensive, impractical, or lacking in range. Governments must continue offering incentives and subsidies to make EVs more accessible and affordable to a wider range of consumers.
In conclusion, looking at the top 5 markets for EV sales in 2022 provides a useful snapshot of the global market for electric vehicles. While China leads the way in terms of overall sales, North America and Europe also see significant growth and adoption of EVs. Through a combination of supportive policies, innovative technologies, and changing attitudes, the EV market is poised to grow even further in the coming years. By promoting sustainable transportation solutions like electric cars, we can help create a cleaner, healthier, and more equitable world for all.
