With increasing concerns over greenhouse gas emissions and global warming, the electric vehicle industry is booming as people look to travel more sustainably. People are increasingly choosing electric cars and even backing the industry by using trading platforms to invest in companies like Tesla.
We look at the latest statistics for the electric vehicle industry, including current and forecast sales, market share and the number of charging stations.
Global EV sales are forecast to reach 14 million in 2023, up 37% from 10.2 million sales in 2022. The number of EVs sold in the UK grew steadily between 2013 and 2020 and then more rapidly between 2020 and 2022.
| Year | EV sales (global) |
|---|---|
| 2013 | 201000 |
| 2014 | 330000 |
| 2015 | 550000 |
| 2016 | 750000 |
| 2017 | 1180000 |
| 2018 | 2050000 |
| 2019 | 2080000 |
| 2020 | 2970000 |
| 2021 | 6500000 |
| 2022 | 10200000 |
| 2023* | 14000000 |
In 2022, 370,000 electric cars were sold in the UK, an increase of 19% from 2021. This is also 100 times more than the number of electric cars sold in 2013, when just 3,700 electric cars were sold.
| Year | EV sales (UK) |
|---|---|
| 2013 | 3700 |
| 2014 | 14500 |
| 2015 | 29000 |
| 2016 | 39000 |
| 2017 | 49000 |
| 2018 | 62000 |
| 2019 | 75000 |
| 2020 | 178000 |
| 2021 | 310000 |
| 2022 | 370000 |
As of June 2023, there are over 1.3 million electric cars on UK roads, up from almost 84,867 in 2016, which is an increase of almost 1500%. The number of fully electric cars on UK roads (816,668) is now higher than the number of hybrid electric cars (511,921).
| Year | Battery electric vehicles | Hybrid electric vehicles | Total |
|---|---|---|---|
| 2016 | 30,699 | 54,168 | 84,867 |
| 2017 | 44,266 | 87,705 | 131,971 |
| 2018 | 59,740 | 131,976 | 191,716 |
| 2019 | 97,565 | 166,921 | 264,486 |
| 2020 | 205,770 | 233,798 | 439,568 |
| 2021 | 396,497 | 348,352 | 744,849 |
| 2022 | 663,700 | 449,766 | 1,113,466 |
| 2023 | 816,668 | 511,921 | 1,328,589 |
Demand for electric cars is expected to continue growing worldwide after 2023 and is forecast to reach a total of 36.9 million sales globally by 2030. If achieved, this would be an increase of 1140% from 10 years prior in 2020.
| Year | Total EV sales in millions (units) |
|---|---|
| 2020 | 2970000 |
| 2025* | 20500000 |
| 2030* | 36900000 |
Globally, electric cars accounted for 14% of new car sales in 2022, up from 8.7% in 2021. Projections suggest that, by 2030, electric cars will account for 36% of car sales. In the UK, electric car sales accounted for 23% of new car sales in 2022, 9% higher than the global average of 14%.
The big uptake in UK residents purchasing electric cars is most likely due to the ban on new ICE (internal combustion engine) vehicles that is now coming into place in 2030. This ban will stop the sale of any new cars that rely solely on fossil fuels to run, encouraging more people to choose electric cars.
| Year | EV sales as percentage share (UK) | EV sales as percentage share (World) |
|---|---|---|
| 2013 | 0.17% | 0.27% |
| 2014 | 0.60% | 0.43% |
| 2015 | 1.10% | 0.70% |
| 2016 | 1.40% | 0.89% |
| 2017 | 1.90% | 1.40% |
| 2018 | 2.60% | 2.30% |
| 2019 | 3.20% | 2.60% |
| 2020 | 11.00% | 4.20% |
| 2021 | 19.00% | 8.70% |
| 2022 | 23.00% | 14.00% |
Globally, 36% of all new car sales are expected to be electric by 2030. By 2025, projections suggest that 23% of new cars sold will be EVs.
| Year | Other car sales as a percentage share | EV sales as percentage share (global) |
|---|---|---|
| 2020 | 95.80% | 4.20% |
| 2025* | 77% | 23% |
| 2030* | 64% | 36% |
Projections suggest that China will still lead the way in the EV market in 2030, with a market share of 40%. The US is expected to double its current market share to reach 20% by the end of the decade, while Europe is expected to maintain its current 25% share. The other smaller markets will make up the remaining 15% by 2030.
| Region | Percentage |
|---|---|
| China | 40% |
| Europe | 25% |
| United States | 20% |
| Other | 15% |
In 2023, the Chinese company BYD Auto has the largest market share with 21%. They are followed by Tesla with 16% and Volkswagen with 7% of the market share, although other manufacturers still account for 56% of sales in 2023.
Globally, the bestselling electric car in 2022 was the Tesla Model Y, which had roughly 771,300 sales worldwide. This was followed by the BYD Song Plus, the Tesla Model 3, the Wuling Hong Guang MINI EV and the BYD Qin Plus.
| Model | Number of units sold in 2022 |
|---|---|
| 1. Tesla Model Y | 771,300 |
| 2. BYD Song Plus | 477,090 |
| 3. Tesla Model 3 | 476,340 |
| 4. Wuling Hong Guang MINI EV | 424,030 |
| 5. BYD Qin Plus | 315,240 |
The most popular electric car in the UK in 2022 was also the Tesla Model Y, which sold over 35,000 units. This was followed by the Tesla Model 3, which sold 19,071 units, and the Kia e-Niro, which sold 11,197 units.
| Model | Number of units sold in 2022 |
|---|---|
| 1. Tesla Model Y | 35,551 |
| 2. Tesla Model 3 | 19,071 |
| 3. Kia e-Niro | 11,197 |
| 4. Volkswagen ID.3 | 9,832 |
| 5. Nissan Leaf | 9,178 |
Many consumers are new to electric cards, and according to a survey, 42% of respondents purchased their EVs within the last year and over 67% within the last 2 years.
The increasing number of charge points across Europe has also increased people’s confidence in electric vehicles as they can charge their cars more regularly. The graph below shows the change in people’s concerns over charging between 2022 and 2023.
| Response | 2022 | 2023 |
|---|---|---|
| I don’t need to charge on a daily basis | 21% | 47% |
| I charge my EV as soon as I get home | 28% | 23% |
| I charge my EV at a later time | 10% | 13% |
However, many drivers in Europe still don’t have access to a private charging point in their homes, which demonstrates the increasing need for governments to roll out EV charging stations as quickly as possible. This will allow more people to drive with confidence and encourage more drivers to choose an EV for their next car!
| Charge point used | Percentage |
|---|---|
| Private home charge point | 56 |
| Public access charge point | 16 |
| Standard plug socket | 15 |
| Unable to charge at home | 7 |
| Private communal charge point | 3 |
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
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