JATO Dynamic has reported that worldwide electric-vehicle sales increased in 2022, with the global automotive business intelligence supplier reporting that the total volume of battery electric vehicles (BEVs) has “surged” by 66 per cent to a total of 7.37 million units, thus resulting in a year-on-year increase of 2.9 million BEVs sold.

“The EV boom looks set to endure”

According to the firm, in 2021, the global market share for BEVs “jumped” from 5.5 per cent to 9.3 per cent. The only markets that registered a double-digit market share were Europe and China, with these markets securing BEV market shares of 12.2 per cent and 15.6 per cent, respectively.

“The EV boom looks set to endure. Governments in the developed world have continued to offer generous incentives, encouraging consumers to make the switch away from ICE [internal combustion engine] vehicles, while average prices have decreased thanks to the introduction of more affordable models by OEMs,” said Felipe Munoz, JATO’s Global Analyst.

The company states that Norway continued to “set the standard” for EV adoption globally. In 2022, 71 per cent of light vehicles registered in Norway were BEVs. However, the report indicates that Hong Hong recorded the highest market share — 53.1 per cent, to be precise — in 2022. That’s an increase of 28.7 per cent compared to 2021’s 24.4 per cent.

Regarding global sales, China led the way as the world’s largest market in terms of volume, reported JATO Dynamics. China accounted for 53 per cent of global sales.

According to JATO Dynamics, “China’s success is the result of shorter waiting times for BEVs when compared with ICE models and a burgeoning offer for consumers – in 2022, 15 new brands were launched in China. While Tesla led the EV charge in 2022 with a 43 per cent growth in sales, the US manufacturer lost market share to China’s OEMs, down three points of share to 17.6 per cent.”

As a reminder, Teslas were the only EVs to make the list of the world’s top 10 best-selling vehicles. See the list here.