According to data from JATO Dynamics, the global sales of pure electric passenger cars totaled 2.97 million units between January and September 2021. The total being 149% higher than the volume recorded over the same period last year.
The strong acceleration is remarkable when considering the timid growth of the overall market, at just +11%. The BEV market share jumped from 2.6% in 2020, to 5.8% through September – marking a significant increase.
Within this context, it is interesting to see the dominance of China as a market for BEVs and their respective brands. According to our data, Chinese car brands account for 45% of global sales, in contrast to the 15% market share they hold across the entire passenger car market (when including all fuel types). Demonstrating clearly that EVs boost the market share for China’s cars by 30 percentage points.
However, it’s important to consider that a large part of the success achieved by Chinese BEVs is due to domestic demand. Around 95% of the volume sold by these brands remained in China, with a particularly small amount of global penetration. Nonetheless, the strong sales are a clear indicator of what could be on the horizon if governments around the world continue to push the shift from ICE to BEVs.