This is how sales of light electric vehicles went last year in the four target markets: China, USA, Europe and India.
ICCT analysis provides an overview of the state of light electric vehicles
In 2023, global sales of light electric vehicles (under 4.5 tons) exceeded 13 million units. In percentage, it means that they cover 15% of the new light vehicles sold in the world. The data emerges from a briefing published by the International Council on Clean Transportation (ICCT).
The US think tank reports that about 88% of electric vehicles sold worldwide have been manufactured in four main markets: China, Europe, the United States and India. Together, these countries also account for 63% of sales of light vehicles (electric and not). Like the previous year, China is the world’s largest electric vehicle market, with over 7 million sales. Europe is experiencing stagnation, with electric vehicles stopped at 21% of the total sales of the sector. Instead, there is growth in the United States, where light electric vehicles have now risen from 7% to 9% of all new light vehicles. In India, the share of electricity sales continued to grow to 2% in 2023, from 1% the previous year.
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The Internal Market as a Reference for Evs
Most of the vehicles produced in these large markets are sold to meet domestic demand. In 2023, about 90% of the light electric vehicles produced in China, 85% of those produced in Europe and 81% of those produced in the United States were sold on the domestic market.
Other trends recorded by ICCT are the gain of electricity market segments by hybrids in China, where the full electric share fell from 78% to 69%. In Europe, on the other hand, the reverse is true: electric power goes from 60% to 68% in a year at the expense of hybrids. Also in the United States (80%) and India (99%), without variations year on year.
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What are the best-selling car types for each market? The answer differs from region to region. In Europe, as in the USA, vans, SUVs and family cars dominate. In China this category is divided equally into the golden share with minicars and compacts. In India, however, the ratio is reversed: minicars alone exceed 60%.
