EV car sales will skyrocket over the coming two decades

  • by Ofeed Team
  • June 11, 2019, 13:49 AM
  • 545 Views
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While Electric Vehicles (EVs) have revolutionized the global automotive industry since its inception nearly a decade ago, despite all their haze and integrity, EV sales still represent a very small part of global total car sales.

Yet, it is crystal clear that EV sales are showing a steady growth and will increase at a faster pace in the upcoming years.

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The sales EVs will reach 50 million by 2038, when they will exceed the 47 million units of conventional passenger vehicle sales, according to Bloomberg 2019 outlook.

In 2018, China contributed with half of global EV sales, as it purchased 1 million units  of both battery EVs and plug-in hybrids.

The U.S. market, however, may witness a more rapid increase in sales over the upcoming years, with the mounting interest in Tesla EV cars.    

In the first five months of this year, 110,886 plug-in electric cars were sold in the U.S. and Tesla Model 3 accounted for 42 percent, while global sales of Model 3 were three times higher than the second best plug-in electric car in April.

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IHS Markit predicts a whopping 540 percent increase in the sales of EVs in the United States from 2018 to 2026, pushing the number of sold vehicles from 200,000 to 1.28 million.

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