Electric

Electric Vehicles Accounted for 10 Percent of Global Sales in 2022

by The Car Guide
Photo: Volkswagen

The increasing popularity of electric vehicles around the world reached new highs in 2022. According to preliminary data from LMC Automotive and EV-Volumes.com, 7.8 million units were sold globally, up 68 percent from 2021, The Wall Street Journal reports.

As a result, EVs now account for 10 percent of global auto sales for the first time ever, beating many earlier projections. Two years ago, the International Energy Agency predicted that EVs would get a 7-12 percent market share in 2030.

Europe (led by Norway, of course) and China continue to set the example, with EVs accounting for 11 percent and 19 percent of total new vehicle sales in those regions, respectively.

More recent projections identified by The Wall Street Journal, including those of CBInsights Auto and Mobility Trends as well as BloombergNEF, give EVs a share of the global market anywhere between 22-40 percent by the end of the decade. In order to get there, however, automakers will have to fix production issues, shorten delivery times and keep rising prices in check.

In Canada, only 7.2 percent of new light-duty vehicles sold across the country in the first half of 2022 were zero-emission vehicles (ZEV), which include fully electric and plug-in hybrid models. The federal government last month proposed regulated sales targets for ZEVs starting with a minimum of 20 percent by the 2026 model year. These targets would increase annually to at least 60 percent by 2030 and 100 percent for 2035.

Automakers and vehicle importers that don't meet the sales targets could face penalties under the Canadian Environmental Protection Act.

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