Plugins Hit 15%, EVs 11% of the Global New Car Market
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EVs Reach 11% of Global Car Market

We say it all the time: plugin cars aren’t coming — they’re already here. Still, we were shocked to see them reach 15% of Q3 sales!

Industry analyst Jose Pontes’ numbers showed that global plugin vehicle registrations were up 60% in August 2022 compared to August 2021, reaching 847,000 units (the best result ever for a month that doesn’t close a quarter).

As significant as that is, the news gets even better for EV fans. “So, expect not only that Q3 will be the best quarter ever for plugins,” writes Pontes, “but also that September will provide the mother of all record months! I expect September will be the first time the world reaches one million plugin vehicle registrations in a month.”

The numbers aren’t just big, either. They represent a growing piece of the overall market, with plugin cars (a number that includes PHEVs) representing 15% of the overall auto market, and “pure” electric vehicles reaching 11% of the market for the first time.

Global EV market sales by brand.

Warren Buffet-backed BYD is the undisputed leader in electric car sales (the BYD Tang SUV is shown, at top), with nearly 975,000 deliveries through the month of August (still waiting on final Q3 numbers) compared to 718,000-ish for Tesla. Tesla had a strong push to close out Q3, however, delivering a record 343,000 vehicles (though, it must be said, the American fell shy of analyst’s predictions).

You can check out Pontes’ industry deep-dive by clicking here, and let us know if your favorite EV made the list — or if you see one you’ve never heard of before! — in the comments section at the bottom of the page.

SOURCE | IMAGES: BYD, CLEANTECHNICA.

FTC: We use income-earning auto affiliate links. Learn more.

AUTHOR: 

JO BORRAS

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