Global electric vehicle sales hit record 10.5-million units in 2022

Global sales of electric vehicles (EVs) reached a record in 2022, with 10.5-million new battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs) delivered, an increase of 55% compared with 2021. 

The regional growth pattern is shifting, though. After two years of steep sales increases in Europe, EVs there gained only 15% over 2021. Weak overall vehicle markets and persistent component shortages have taken a toll and were worsened by the war in Ukraine, according to EV-volumes.com.

EV sales in the US and Canada increased by 48% year on year, despite a weak overall light vehicle market, which plunged by 8% during 2022 year on year.

The second half of 2022 saw a cautious recovery of vehicle markets. Global light vehicle sales for 2022 were 81-million units, 0.5% lower than in 2021 and 15% below pre-2020 levels.

China’s new energy vehicle (NEV) sales rose by another 82% year on year. BYD recorded sales of 1.85-million units, making it the top seller in the global NEV sales ranking with its 944,500 PHEV sales included.

Counting BEVs only, Tesla still leads the way with 1.31-million units delivered in 2022. 

Sales growth is increasingly depending on the degree of electrification, with BEVs growing 59% and PHEVs 46% last year. Sales of non-chargeable, full hybrids grew by 15% and mild hybrids by 1%.

Internal combustion engine (ICE) vehicle sales declined by 7% in 2022, down to a 76.8% share of global light vehicle sales compared with 82.2% in 2021.

Fuel cell electric vehicles (FCEV) remain irrelevant for the electrification of light vehicles and their deliveries stagnated at 15,400 units in 2022, which is 0.02% of the global, annual light vehicle volume.

Norway is by far the country with the highest adoption and market share of EVs, with BEVs at 71% and PHEVs at 8%. China has 27%, Europe 20.8% and the US 7.2%.

The fastest-growing markets for NEVs in 2022 were Indonesia, which saw sales increase from 1,000 units to 10,000, and India with a more than 223% increase to 50,000 units. New Zealand saw a 151% increase to 23,000 units for a 20% market share. EV supply and adoption is now spreading rapidly into the global south.  

For 2023, sales of 14.3-million EVs — up 36% over 2022 — is expected, with BEVs reaching 8-million units and PHEVs 2.6- million, according to EV-volumes.com.

By the end of 2023, it is expected that nearly 40-million EVs will be in operation, counting light vehicles, the split being 73% BEVs and 27% PHEVs.

The uptake in SA has been slow due to high EV prices and Eskom’s woes. In 2022 local EV sales rose 132% to 506 units (off a very low base of 218 units in 2021) with the launch of new battery-powered models from Audi, BMW, Mercedes-Benz and Volvo.