10. Electric Vehicles (EVs)
The rise of electric vehicles (EVs) was a key trend in 2023. Electric car markets saw exponential growth as sales exceeded 10 million in 2022. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020.
Three markets dominated global sales2:
China was the frontrunner once again, accounting for around 60% of global electric car sales. More than half of the electric cars on roads worldwide are now in China and the country has already exceeded its 2025 target for new energy vehicle sales.
In Europe, the second largest market, electric car sales increased by over 15% in 2022, meaning that more than one in every five cars sold was electric.
Electric car sales in the United States – the third largest market – increased 55% in 2022, reaching a sales share of 8%.
EV sales are expected to continue strongly through 2023. Over 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last year. We currently expect to see 14 million in sales by the end of 2023, representing a 35% year-on-year increase with new purchases accelerating in the second half of this year.
In conclusion, the rise of electric vehicles is not just a trend; it’s a new reality that’s shaping how we interact with digital content. It’s an exciting time to be part of this digital revolution.
