Quick Answer 🔍What percent of cars are electric in 2024?
Electric cars accounted for 10% of all car sales worldwide in 2021.
Let’s find out what percent of cars are electric in 2024.
Many people are purchasing eco-friendly cars to save big on gas money. Electric cars are battery-powered vehicles known to be energy efficient.
They are also famed for requiring lower maintenance interventions compared to cars powered by diesel or gasoline engines.
Based on the GEVO 2021 data, about 10% of car sales worldwide are electric cars, which is around four times the market share in previous years.
In addition, it is recorded that the total number of electric vehicles on the roads worldwide reach 16.5 million in 2021.
It is continuously rising in the first quarter of 2022 and is up by 75% from the first quarter of 2021.
What Percent of Cars are Electric in 2024?
What percent of cars are electric in 2024? The current global sales of electric cars have grown by 75% compared to the first quarter of 2021.
More than 1.95 million electric car units have been sold in just the first quarter of 2022.
In this modern time, there is an increasing number of people who become interested in purchasing electric vehicles than petrol or diesel-powered vehicles.
According to the Global EV Outlook, ten years ago, only a few people opted to switch to eco-friendly cars due to “range anxiety” or fear of running out of charge before arriving at the destination.
Back in 2012, only 120,000 electric cars were purchased globally, and in 2021, more than that quantity was being purchased weekly.
The sales of electric cars in 2021 continuously grow and reach 6.6 million or equal to 10% of car sales worldwide.
Electric Vehicle Shipments
Electric vehicle shipments are projected to surpass 10 million units by the end of 2022, and approximately 58 million electric car units by 2030.
The United States recorded an impressive leap in sales of fully electric cars with around 83% and nearly 76% for hybrid cars.
How Does an Electric Car Work?
The electric car also known as an electric vehicle (EV) has an electric motor and is powered by rechargeable lithium-ion (Li-ion) batteries.
EV stores electricity in rechargeable batteries and will power the electric motor. The power from the battery is transferred to the electric motor once the accelerator is pressed.
When the driver places the electric car in drive mode, it accelerates just like the automatic cars.
As the power is transferred to the electric motor, the wheels start turning.
When it brakes, it begins to decelerate and the motor behaves as an alternator, the energy is then recovered and returned to the battery.
How Long Does it Take to Charge an EV?
To make sure the battery has enough power, users need to charge their electric cars.
Charging at home takes 6-8 hours while charging at public charge points takes 1-9 hours.
Fast charging with 80% capacity will take around 30 minutes, and rapid charging with a 100km range will take about 6 minutes.
Future of Electric Cars
Due to the rising number of electric car consumers, global electric vehicle shipments are expected to surpass 58 million electric car units by 2030.
Approximately 45% of new car sales will be electric in 2035 based on the industry analysis of IHS Markit.
Auto manufacturers are increasing the production of electric cars and new EV models will be expected in the next few years.
Best Electric Cars in 2022
According to a 2022 survey, here are the best electric cars consumers are loving today:
- 2022 Chevrolet Bolt ($31,500 to $34,700 MSRP) acquired an 8.3 score out of 10
- 2022 Hyundai Ioniq 5 ($43,650 to $54,500 MSRP) acquired an 8.6 score out of 10
- 2023 BMW iX ($84,100 to $108,900 MSRP) acquired an 8.9 score out of 10
- 2022 Mercedes-Benz EQS ($102,310 to $119,110 MSRP) acquired a 9.4 score out of 10
Top 5 Electric Car Companies in the World
The top 5 electric car companies according to their global units sold in 2021 are:
- Tesla, Inc. accounts for 936,172 global units sold in 2021
- Toyota accounts for 674,450 global units sold in 2021
- BYD Co. Ltd. accounts for 593,743 global units sold in 2021
- General Motors accounts for 516,600 global units sold in 2021
- Volkswagen Group accounts for 452,900 global units sold in 2021
Best-Selling Electric Car Models Worldwide in 2021
Here are the best-selling electric car models worldwide in 2021 are:
- Tesla Model 3 brings 500,713 total global sales in 2021
- Wuling Hong Guang MINI EV brings 424,138 total global sales in 2021
- Tesla Model Y brings 410,517 total global sales in 2021
- Volkswagen ID.4 brings 121,631 total global sales in 2021
- BYD Qin Plus PHEV brings 111,553 total global sales in 2021
Revenue of Electric Car Companies
The global electric car market is continuously experiencing growth.
Based on the report, the revenue in the global EV market is expected to reach $384.00 billion in 2022 and $869.30 billion in 2027.
It is projected to show a compound annual growth rate of 17.75% in 2022-2027.
Which Country Has the Most Electric Cars?
Based on World Economic Forum analytics, Norway has the highest share of electric vehicles accounting for 74.8% of new passenger car sales in 2020.
The reason why Norway has the highest car sales is that it has more EV per capita and electric car owners are exempted from paying sales tax, road tax, and other incentives.
Next to Norway is Iceland, accounting for 45% of new passenger car sales, and Sweden accounting for 32.2% of new passenger car sales.
On the other hand, China has the largest number of electric vehicles on its roads bringing a total of 4.5 million and remained to be the market leader in electric vehicle shipments.
It is evident that there is an increasing number of consumers buying electric cars during this time.
Almost 2 million electric cars were already sold worldwide in the first quarter of 2022 which is 75% up compared to the first quarter of 2021.
Approximately 10% of global car sales in 2021 were electric cars or equivalent to 6.6 million electric cars sold.
By the end of 2022, it is expected that there will be over 10 million electric car unit shipments globally.
Thanks for reading our article on what percent of cars are electric in 2024.