The market share of electric vehicles is still far from the majority on our roads. There is indeed an almost worldwide craze, but vehicles with internal combustion engines still have a large share of the pie.
However, the electric car is gaining ground, as shown by a study conducted by the International Energy Agency. It states that market share will more than double by 2021, from 4.11% in 2020 to 8.57% in 2021, as reported by Electrek.co.
The effects of the pandemic are impacting every sphere of the global economy, and the automotive industry is definitely not exempt. The COVID-19 has changed many things within the automotive industry and even with customers who are discovering the benefits of an electric vehicle versus the old, fossil fuel based method.
What’s more, rising gasoline prices are unlikely to diminish this growth of the electric car in the market. In 2019, electric car sales hit the 2.2 million units sold mark, while in 2020, the 3 million car sales mark was passed. Finally, in 2021, this statistic swelled to 6.6 million units sold worldwide.
And it’s worth mentioning that this increase took place before the first electric vans hit the market. What is clear is that this new segment is not likely to hinder the growth of the electric car in the coming seasons. At the time of writing, the auto industry’s main concern is to address its supply issues, a plague that is slowing sales, but also affecting the price of new vehicles, and even used vehicles.