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With the growth of EV infrastructure, Electric vehicles are becoming a norm in 2024.
Electric vehicles are being adopted by millions of people globally and the stigma attached to them is fading away slowly.
25.9 million electric vehicles are roaming the streets worldwide and the number is expected to increase explosively in the near future.
This article features statistics about the number of electric vehicles, sales and revenues of some big industry players.
Electric Vehicle Statistics: Overview
The market for electric cars is one of the most active in the clean energy sector. In 2021, the number of electric vehicle sales doubled from the previous year to reach a new high of 6.6 million.
Only 120,000 electric vehicles were sold globally in 2012, but in 2021, More than that were sold each week.
With this, there are now over 25.9 million electric vehicles on the road worldwide, which is three times more than there were in 2018.
Having 2 million sold in the first quarter of 2022, a 75% increase from the same period in 2021, electric car sales have been expanding steadily worldwide.
Source: Statista
Estimated worldwide usage of electric vehicles from 2016 to 2022 (segmented by type)
25.9 million electric vehicles were registered in 2022, out of which 18 million were battery electric vehicles and 7.9 million were plug-in hybrid electric type of vehicles.
In 2020, there were nearly 7.15 million electric vehicles in the world. The number of electric vehicles increased by nearly 6 million vehicles in 2021.
Here is a table showing the number of electric vehicles in the world by type of vehicle:
| Year | Total electric vehicles | Battery electric | Plug-in hybrid electric |
|---|---|---|---|
| 2022 | 25.9 million | 18 million | 7.9 million |
| 2021 | 16.49 million | 11.27 million | 5.22 million |
| 2020 | 10.24 million | 6.87 million | 3.37 million |
| 2019 | 7.15 million | 4.77 million | 2.37 million |
| 2018 | 5.09 million | 3.26 million | 1.83 million |
| 2017 | 3.14 million | 1.93 million | 1.20 million |
| 2016 | 1.99 million | 1.19 million | 808,180 |
Source: Statista
In 2020, sales of electric vehicles will have risen to over three million units globally.
The market share of electric vehicles climbed between four and 5% in 2020, while conventional vehicle sales decreased due to the coronavirus epidemic.
About 54% of the world’s battery-electric vehicle population, China had the biggest battery-electric vehicle fleet in 2019.
Source: Statista
Worldwide sales of Electric Vehicles between 2016 and 2021, according to regions
Some 1.3 million battery electric vehicles were sold in Europe in 2021, according to data provided by EV-Volumes.
This is an increase of 65% compared to battery electric vehicle sales in the region in 2020.
Overall, the volume of battery electric vehicles sold worldwide steadily increased between 2016 and 2021.
Source: EV-Volumes
Worldwide Sales of Battery-Based Electric Vehicles
There were around 7.3 million unit sales of battery-based electric vehicles globally in 2022.
The unit sales of battery-based electric vehicles increased by over 200% between 2020 and 2021.
2 million units were sold in 2020 and more than 4.6 million units in 2021.
The table below shows the unit sales of battery-based electric vehicles globally:
| Year | Unit sales |
|---|---|
| 2022 | 7.3 million |
| 2021 | 4.6 million |
| 2020 | 2 million |
| 2019 | 1.5 million |
| 2018 | 1.4 million |
| 2017 | 0.76 million |
| 2016 | 0.46 million |
| 2015 | 0.33 million |
| 2014 | 0.2 million |
| 2013 | 0.11 million |
| 2012 | 0.06 million |
| 2011 | 0.04 million |
Source: Statista
Worldwide sales of plug-in electric light vehicle sales
Nearly 10.2 million units of plug-in electric light vehicles were sold in 2022. This was an increase of 3.7 million units from 2021.
The plug-in electric light vehicle sales experienced a huge jump where sales rose from 2.97 million in 2020 to 6.5 million in 2021.
Here is a table showing the number of unit sales of plug-in electric vehicles over the years:
| Year | Unit sales |
|---|---|
| 2022 | 10.2 million |
| 2021 | 6.5 million |
| 2020 | 2.97 million |
| 2019 | 2.08 million |
| 2018 | 2.05 million |
| 2017 | 1.18 million |
| 2016 | 0.75 million |
| 2015 | 0.55 million |
Source: Statista
Range of a few Electric Car Models In 2022
The electric vehicle with the longest driving range produced in the Model Year 2022 was no longer the Tesla Model S Long Range.
Approximately 115 miles more range was measured for the Lucid Air Dream Edition Range than the Model S Long Range for this model year. The Lucid-branded cars have a 520-mile range on a single charge.
The most important consumer worry regarding electric vehicles is distance coverage in one charge.
Top Electric Vehicle Companies Revenue Statistics
There has been a huge change in electric vehicle companies’ sales statistics over the past few years. Hence, to understand the in-depth revenue of the E.V. brands, let’s dive deep into the details.
Tesla Revenue: 2008-2023
Tesla’s revenue for 2023 was around $96.8 billion, an increase of over 15 billion from 2022.
In the fiscal year 2021, Tesla’s revenue increased by 71 percent to approximately $53.8 billion dollars over the previous year. The United States has been Tesla’s largest sales market.
Here is a breakdown of Tesla’s revenue over the years:
| Year | Revenue |
|---|---|
| 2023 | $96.77 billion |
| 2022 | $81.46 billion |
| 2021 | $53.82 billion |
| 2020 | $31.53 billion |
| 2019 | $24.57 billion |
| 2018 | $21.46 billion |
| 2017 | $11.75 billion |
| 2016 | $7 billion |
| 2015 | $4.04 billion |
| 2014 | $3.19 billion |
| 2013 | $2.01 billion |
| 2012 | $413 million |
| 2011 | $204 million |
| 2010 | $117 million |
| 2009 | $112 million |
| 2008 | $15 million |
Source: Statista
China has increased its manufacture of electric automobiles while enacting laws that make it more difficult to purchase gasoline-powered vehicles in an effort to fight the rapidly worsening climate issue.
The B.Y.D. Group, the largest O.E.M. in China, saw revenue of more than 216 billion yuan in 2021, up 38% from the previous year.
52% of the total revenue was generated by electric vehicles and related products, which brought in around 113 billion yuan.
| Fiscal Year | Revenue in Yuan |
|---|---|
| 2021 | 216.14 Billion |
| 2020 | 156.6 Billion |
| 2019 | 127.74 Billion |
| 2018 | 121.79 Billion |
| 2017 | 102.65 Billion |
| 2016 | 100.21 Billion |
| 2015 | 77.61 Billion |
| 2014 | 55.37 Billion |
| 2013 | 49.77 Billion |
| 2012 | 44.38 Billion |
| 2011 | 46.31 Billion |
| 2010 | 46.69 Billion |
Volkswagen AG’s Revenue: 2006-2021
Volkswagen group’s annual revenue arises in the fiscal year 2022. With a revenue of 279.23 billion euros, the automaker also earned a seat among the world’s wealthiest corporations.
Key brand
With a revenue share of around 30.4% in 2021, the Volkswagen Passenger Cars division contributed the most to the company’s overall revenue.
The major models offered by the flagship brand include hatchbacks, convertibles, and sedans. Also, they offer a variety of minivans and sport utility vehicles (S.U.V.s).
Key market
Asia-Pacific has replaced Germany as V.W.’s primary target market, despite the German automaker’s recent flat sales.
Volkswagen-branded vehicles are purchased by consumers in China and Hong Kong ten times more frequently than they are in the U.S.
Between January and November 2020, Volkswagen and other German automakers held a 24% share of the Chinese market.
| Year | Sales Revenue (Euros) |
|---|---|
| 2022 | 279.23 Billion |
| 2021 | 250.2 Billion |
| 2020 | 222.88 Billion |
| 2019 | 252.63 Billion |
| 2018 | 235.85 Billion |
| 2017 | 229.55 Billion |
| 2016 | 217.27 Billion |
| 2015 | 213.29 Billion |
| 2014 | 202.46 Billion |
| 2013 | 197.01 Billion |
| 2012 | 192.68 Billion |
| 2011 | 159.34 Billion |
| 2010 | 126.88 Billion |
| 2009 | 105.19 Billion |
| 2008 | 113.81 Billion |
| 2007 | 108.9 Billion |
| 2006 | 104.88 Billion |
Source: Statista
BMW group global revenue: 2007-2022
The global revenue of the BMW Group was around 142,610 Million euros in 2022. With quarterly sales exceeding 93,033 units, BMW is presently the third-best-selling European automaker in the United States.
Electrification in the BMW group
BMW has made bold goals to increase the sales of electric vehicles in only two years. If effective, this should boost the business’s current 1% market share in Europe for electric passenger cars.
Future goals of the company
The company’s MINI brand will soon be entirely electrified. Also, it may even have impressive plans for fully electric, high-performance sports cars and motorcycles.
In 2030, it is anticipated that there will be 127 million electric vehicles on the road worldwide.
| Year | Sales Revenue (Euros) |
|---|---|
| 2022 | 142,610 Million |
| 2021 | 111,239 Million |
| 2020 | 98,990 Million |
| 2019 | 104,210 Million |
| 2018 | 96,855 Million |
| 2017 | 98,282 Million |
| 2016 | 94,163 Million |
| 2015 | 92,175 Million |
| 2014 | 80,401 Million |
| 2013 | 76,059 Million |
| 2012 | 76,848 Million |
| 2011 | 68,821 Million |
| 2010 | 60,477 Million |
| 2009 | 50,681 Million |
| 2008 | 53,197 Million |
| 2007 | 56,018 Million |
Source: Statista
Daimler AG Revenue: 2011-2021
Daimler earned around 154.3 billion euros in sales (or 189.5 billion USD) during the 2020 fiscal year. The amount of revenue was down by almost 15% from the previous fiscal year.
Also, recently in 2022, Daimler A.G. made the debut of Daimler Truck because of the split between Daimler Truck and the Meredes-Benz Group to keep the commercial and passenger car business separate.
| Characteristics | Revenue In Euros |
|---|---|
| 2021 | 167.97 Billion |
| 2020 | 154.31 Billion |
| 2019 | 172.72 Billion |
| 2018 | 167.4 Billion |
| 2017 | 164.2 Billion |
| 2016 | 153.3 Billion |
| 2015 | 149.5 Billion |
| 2014 | 129.9 Billion |
| 2013 | 117.98 Billion |
| 2012 | 114.3 Billion |
| 2011 | 106.54 Billion |
Source: Statista
Hyundai Motor’s Revenue: 2011-2022
In 2022, Hyundai recorded sales of 142,528 billion South Korean won.
Hyundai made plans to increase its investment in sustainably powered vehicles in an effort to adapt to changes in consumer demand. The business intends to erect its first hydrogen fuel cell facility outside of China.
The most eco-friendly automobile in the world for MY 2019 was already the Hyundai Ioniq Electric.
| Characteristics | Sales Revenue In Billion South Korean Won |
|---|---|
| 2022 | 142,528 |
| 2021 | 117,611 |
| 2020 | 103,998 |
| 2019 | 104,746 |
| 2018 | 96,813 |
| 2017 | 96, 376 |
| 2016 | 93, 649 |
| 2015 | 91, 959 |
| 2014 | 89, 256 |
| 2013 | 87, 308 |
| 2012 | 84, 470 |
| 2011 | 77, 798 |
Source: Statista
Electric Vehicle Charging Stations in the U.S.
There are more than 109,307 EV charging stations in the United States.
The United States has 1,305 level 1 ports and 88,070 level 2 ports.
Here is a table showing the number of Electric Vehicle charging stations in the US by States:
| State | Total Ports |
|---|---|
| California | 109,307 |
| Georgia | 34,185 |
| Washington | 3,754 |
| Wisconsin | 881 |
| Minnesota | 1,226 |
| Vermont | 831 |
| Colorado | 3,355 |
| Virginia | 2,507 |
| Oregon | 2,142 |
| Florida | 5,644 |
| Texas | 4,946 |
| Michigan | 1,642 |
| Iowa | 523 |
| Maryland | 2,815 |
| Connecticut | 1,216 |
| Rhode Island | 521 |
| District of Columbia | 671 |
| New York | 6,547 |
| North Carolina | 2,287 |
| New Jersey | 1,610 |
| Pennsylvania | 2,438 |
| Massachusetts | 4,110 |
| Illinois | 2,251 |
| Tennessee | 1,381 |
| Kentucky | 399 |
| Missouri | 2,045 |
| Nevada | 1,209 |
| Utah | 1,758 |
| Arizona | 1,952 |
Source: EVadoption
Top automotive and mobility trends in 2024
Sales of new light vehicles are expected to decline by 7.0% in 2024. The reason is consumers’ spending on expensive things like new cars is restrained by the global economic slump.
Yet the year will nevertheless be a turning moment for the automotive and mobility sectors, influenced by growing sustainability pressures, advanced technology, and shifting customer tastes.
This includes the accelerating use of sustainable fuels and drivetrains, the rapid shift to automated vehicles, and the chances for shared mobility enterprises to adapt mobility-as-a-service.
2024 to set a record for the number of autonomous vehicles on the road.
2024 will be a record year for semi and fully autonomous vehicles as technological advancement will support sophisticated advanced driver assistance systems (ADAS).
Also, self-driving algorithms are declining due to slower economic development despite new light vehicle sales.
Sales of level 3 light vehicles manufactured by S.A.E. (Society of Automotive Engineers) are anticipated to increase by 216% in 2024 compared to 2022.
We’ll witness the introduction of a number of greatly automated vehicles by automotive manufacturers, including the Hyundai Genesis G90 Sedan and the Kia EV9 SUV.
Sales of S.A.E. level 4 vehicles are anticipated to increase 150-fold in 2024, partly as a result of a low base in 2022.
From April 2024, Japan intends to allow a small number of S.A.E. level 4 vehicles on the highways, paving the way for robot taxis and driverless buses.
However, regulating autonomous vehicles will continue to be a barrier as many nations still demand that a driver is in charge of a car when it’s on a public road.
| New light vehicle sales | S.A.E. Levels of autonomy |
|---|---|
| 39.7% | Level 0 |
| 12.9% | Level 1 |
| 43.8% | Level 2 |
| 3.2% | Level 3 |
| 0.4% | Level 4 |
Clean mobility: The popularity of electric vehicles will continue to rise despite increased competition from hydrogen
Again, 2024 will be a momentous year for electric automobiles.
In 2024, new passenger car registrations will include battery electric and plug-in hybrid vehicles at a rate of 19%, up from 14% in 2022.
62% of all E.V. registrations worldwide will occur in China in 2024, followed by 21% in Europe and 10% in the U.S. China will continue to be the world’s largest market for E.V.s.
Although 2024 will also be a key year for hydrogen-powered automobiles, as several automakers view this technology as a viable answer to the problem of sustainable transportation.
Honda’s CR-V fuel cell electric vehicle (FCEV) is anticipated to go on sale with a dual fuel system made up of a battery for regular charging and a fuel cell that can run on hydrogen.
Despite the bright future, hydrogen is still a challenging frontier for the automotive and mobility industries.
It’s all a result of the high processing costs for the fuel, flammability safety concerns, and a paucity of hydrogen refueling stations.
As a result, it is still anticipated that E.V.s will dominate the transition to sustainable mobility in 2024, with hydrogen power serving as a longer-term option.
Market consolidation for shared transportation amid a sluggish economy and the move to MaaS
Gross bookings for shared mobility are anticipated to exceed USD 214 billion, up 4.3% from the prior year.
However, growth will continue to be weak amid a deteriorating global economy as businesses and individuals cut back on transportation spending.
This is anticipated to be a problem for unsuccessful businesses that have relied on venture capital financing to stay afloat.
It comes after a difficult year for shared mobility in 2022, during which Volkswagen sold its WeShare car-sharing program to mobility player MILES, based in Berlin.
In a similar manner, Stellantis will purchase SHARE NOW, which was created by the merger of Car2Go from Daimler and DriveNow from BMW.
Additionally, businesses are working hard to reassess their business models.
Related Read:
Conclusion: Sales of plug-in electric vehicles reached 10.2 million units
Electric vehicles are slowly but consistently capturing a healthy market share.
Millions of electric vehicles are being used by people globally and the younger generation is more inclined to use EVs.
Many key industry players are taking the market by storm and working towards building a sustainable infrastructure to support their cause of clean energy in 2024.
This article summarized some key statistics about electric vehicle use, industry revenue, and new trends.
FAQs
E.V. owners experience issues like display screens, door lights on the exterior, and failing temperature sensors and seals.
Electric vehicle batteries go for 10-20 years. However, there are other factors affecting the lifespan of an electric vehicle.
Plug-in vehicle sales are expected to increase from slightly under 10% in 2021 to 23% of new passenger car sales globally in 2025.
While most EVs cost significantly more than an ordinary car, most Americans find it difficult to evaluate them economically.
Combining all of those figures, I can estimate that fewer than 15% of American drivers can afford a set of battery-operated wheels.
