Electric vehicles accounted for 10% of all vehicles sold in 2022, according to data published by The Wall Street Journal. With the segment growing, China and Europe are the two main regions where EV sales are growing exponentially.

Thanks to the efforts of major manufacturers to develop new electric vehicles, the segment is growing every year. During 2022, 7.8 million electric vehicles have been sold worldwide. This number represents a significant increase of 68% over 2021. For example, in Germany in December 2022, more electric vehicles were sold than models with an internal combustion engine. The data shows how this segment is gaining consumer attention and is also growing in Brazil. Even if high prices are beyond the reach of the majority of the population, every year more and more Brazilians are investing in an electric car.

China Responsible for Significant Sales Growth

According to The Wall Street Journal, China accounted for about 19% of all electric vehicle sales worldwide.. Chinese automakers BYD and SAIC Motor are two manufacturers with significant growth in electric vehicle production and sales. In Europe, Volkswagen stands out the most.

This was announced in an interview with The Wall Street Journal by the head of Volkswagen in China, Ralph Brandstetter. Sales forecasts for 2023 are even more optimistic.. “Last year, every fourth car we sold in China was a plug-in, and this year it is one in three cars.”

The United States is the third largest EV sales region, and Tesla is still in first place as the world’s largest EV maker. With new models hitting the market, including more affordable options, the EV market should continue to perform well this year. While it’s too early to tell if there will ever be more electric vehicles on the road than combustion engine models, the trend shows that competition should become increasingly fierce in the future.

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Source: The Wall Street Journal.

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