Global Electric Vehicle Market Outlook, 2019
Over 2.8 Million Electric Vehicles are Likely to be Sold in 2019 With China Being the Leader With 57% Market Share
  • About 2 million electric vehicles were sold globally out of which 68.7% were battery electric vehicles (BEV) and 31.3% were plugin hybrid electric vehicles (PHEV) recording a y-o-y market growth of 57.3%. China retained its market leadership for the 5th consecutive year with a 55.5% share, selling approximately 1.1 million electric vehicles (75% of it being BEVs and 25% PHEVs) and recording a 63.5% y-o-y market growth. Approximately 2.4 million hybrid electric vehicles (HEV) were sold globally which includes both mild and full hybrid vehicles. APAC sales consisted of 60.3% followed by Europe with 22.0% market share. Canada (+137.4%), South Korea (+83.4%) and USA (+77.1%) were the top 3 countries to experience highest y-o-y growth.

    In Canada and South Korea it was mainly to due increased in number of models available and in the US it was the Tesla Model 3. For the first time, Tesla emerged as the market leader with the launch of Model 3. Tesla sold highest number of cars constituting to 11.8% (231,850 units) of the total market closely followed by BYD with 11.3% (222,743) market share. 207 models (143 BEVs and 64 PHEVs) were available for sale in 2018 as compared to 165 (109 BEVs and 56 PHEVs) in 2017. In 2019 were 45 models added to the list which consisted of 37 BEVs and 8 PHEVs. BMW became the first automaker to offer inductive charging on its BMW 530e iPerformance model at an additional cost of $3,700 including taxes ($1000 for the module on the vehicle and $2,700 for mounting the control box).

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