ArenaEV.com ArenaEV.com

Facebook

Twitter

Instagram

RSS

Settings
Units
Power
Standard
Consumption
Currency

Log in

Login

I forgot my password
Sign up
ADVERTISEMENTS

Global EV market sees 63% growth in H1 2022

  • Post your comment

Ro, 12 August 2022

Tesla BYD Other

According to the latest research from Canalys, the global EV market continued its rapid growth in the first half of this year. Year-over-year, the global market expanded 63% and the interesting bit about this is that Chinese sales account for 57% of the total global volume.

In H1 2022, the Chinese bought 2.4 million EVs, which is 26% of the total cars sold in the country for the same period, up from 10% in H1 2021. In Europe, the EV shipments are 1.1 million and account for 20% of the sales, up from 16% in H1 2021. The US is still lagging behind with just 414,000 sales. This is still considered a significant growth, though - from 3% to 6% market share in a year.

Global EV market sees 63% growth in H1 2022

It's evident that the Chinese EV market is the fastest growing one and it shows signs of recovery after the supply chain issues. The government gives generous tax benefits to further drive the adoption as new brands and models pop up almost daily. BYD is the largest EV maker in China and six out the ten best-selling vehicles are made by the company.

Global EV market sees 63% growth in H1 2022

The European market sees some signs of slowdown as overall passenger vehicles sales are down and the PHEVs are somewhat less popular this year compared to 2021. Tesla seems to be leading the market in Europe with two of its models topping the charts - Model Y takes the first place followed closely by Model 3.

Tesla is also leading in the US with 60% of the total EV sales in the country - an impressive metric. However, due to the lack of new models in the US, the demand significantly exceeds the supply and competing brands need to step up their game to push the sales up.

Rising fuel prices and government incentives are the main driving factors for the boom in EV sales but supply is still constrained and people wait for months on end for their ordered cars to arrive. Analysts are worried that the uncertain economic future might affect the EV market negatively next year.

Source

Related articles
  • Chinese EV battery makers reach 56% market share Chinese EV battery makers reach 56% market share
  • BYD prepares to enter Japanese market with 3 models BYD prepares to enter Japanese market with 3 models
  • First Tesla cars with blade batteries from BYD coming this month First Tesla cars with blade batteries from BYD coming this month
  • Tesla secures battery materials until the end of 2025 Tesla secures battery materials until the end of 2025
  • Post your comment
Total reader comments: 0

  • Home
  • Compare
  • News
  • Terms
  • Reviews
  • About us
  • Tesla
  • Volkswagen
  • Audi
  • Porsche
  • BMW
  • Mercedes
  • Hyundai
  • Kia
  • Genesis
  • Renault
  • Nissan
  • Ford
  • Volvo
  • Polestar
  • Jaguar
  • Toyota
  • Mazda
  • Mini
  • MG
  • Vinfast
  • Lucid
  • Rivian
  • Cadillac
  • Chevrolet
  • GMC
  • Subaru
  • Nio
  • Xpeng
  • BYD
  • [..]

EV finder

ADVERTISEMENTS

Latest models

  • ModelXiaomi
    YU7 Max
  • ModelNissan
    Leaf 75kWh
  • ModelTesla
    Model S Plaid
  • ModelNissan
    Micra EV 52kWh
  • ModelTesla
    Model X Plaid
  • ModelGenesis
    GV60 Performance AWD

Featured

  • Analyzing the Mercedes-Benz EQXX revolutionary concept Analyzing the Mercedes-Benz EQXX revolutionary concept
  • Real-life test reveals how much range EVs lose in the cold Real-life test reveals how much range EVs lose in the cold
  • Why BMW i3 was ahead of its time Why BMW i3 was ahead of its time
  • Why DC charging peak power is misleading Why DC charging peak power is misleading
  • Why solar panels on cars make no sense (at this point) Why solar panels on cars make no sense (at this point)
ADVERTISEMENTS

Reviews

  • Dacia Spring Electric 2023 review Dacia Spring Electric 2023 review
  • Tesla Model Y Long Range 2023 review Tesla Model Y Long Range 2023 review
  • Hyundai Ioniq 6 LR AWD review Hyundai Ioniq 6 LR AWD review
  • Mini Cooper SE JCW review Mini Cooper SE JCW review

Home News Compare About us RSS feed Facebook Twitter Instagram

© 2022-2025 ArenaEV.com Mobile version EV Finder Glossary Privacy Terms of use

From the team behind
GSMArena.com