Current Situation
Last updated
Last updated
Almost 14 million new electric cars were registered globally in 2023, bringing their total number on the roads to 40 million, closely tracking the sales forecast from the 2023 edition of the Global EV Outlook (GEVO-2023). Electric car sales in 2023 were 3.5 million higher than in 2022, a 35% year-on-year increase. This is more than six times higher than in 2018, just 5 years earlier. In 2023, there were over 250 000 new registrations per week, which is more than the annual total in 2013, ten years earlier. Electric cars accounted for around 18% of all cars sold in 2023, up from 14% in 2022 and only 2% 5 years earlier, in 2018. These trends indicate that growth remains robust as electric car markets mature. Battery electric cars accounted for 70% of the electric car stock in 2023.
Electric car sales continued to increase in emerging market and developing economies (EMDEs) outside China in 2023, but they remained low overall. In many cases, personal cars are not the most common means of passenger transport, especially compared with shared vans and minibuses, or two- and three-wheelers (2/3Ws), which are more prevalent and more often electrified, given their relative accessibility and affordability. The electrification of 2/3Ws and public or shared mobility will be key to achieve emissions reductions in such cases (see later sections in this report). While switching from internal combustion engine (ICE) to electric cars is important, the effect on overall emissions differs depending on the mode of transport that is displaced. Replacing 2/3Ws, public and shared mobility or more active forms of transport with personal cars may not be desirable in all cases.
Electric car sales remained strong in the first quarter of 2024, surpassing those of the same period in 2023 by around 25% to reach more than 3 million. This growth rate was similar to the increase observed for the same period in 2023 compared to 2022. The majority of the additional sales came from China, which sold about half a million more electric cars than over the same period in 2023. In relative terms, the most substantial growth was observed outside of the major EV markets, where sales increased by over 50%, suggesting that the transition to electromobility is picking up in an increasing number of countries worldwide.
Home charging is currently the most common means of charging electric cars. EV owners with access to a private parking space that can be equipped for charging can charge overnight, which is not only convenient but also typically takes advantage of lower electricity prices while demand is relatively low.
The availability of home charging varies substantially between regions and is linked to differences in urban, suburban and rural populations, as well as income bracket. In dense cities, where most people live in multi-unit dwellings, access to home charging is more limited and EV owners rely more heavily on public charging. This is most apparent in Korea, which is one of the world’s most densely populated countries and has the highest ratio of public charging capacity to EVs.
Although there are many more private chargers, public charging and the interoperability of its infrastructure is key to enabling more widespread adoption of and more equitable access to EVs. The public charging stock increased by more than 40% in 2023, and the growth of fast chargers – which reached 55% – outpaced that of slow chargers.At the end of 2023, fast chargers represented over 35% of public charging stock.
Although there are many more private chargers, public charging and the interoperability of its infrastructure is key to enabling more widespread adoption of and more equitable access to EVs. The public charging stock increased by more than 40% in 2023, and the growth of fast chargers – which reached 55% – outpaced that of slow chargers. At the end of 2023, fast chargers represented over 35% of public charging stock.
