Electric car market soars 160% in first half of 2021

Canalys has published its Electric Vehicle Market Research Report for the first half of 2021.

What are the results?

Serious component shortages have not stood in the way of dramatic market growth. According to the analyst company, total sales of hybrids and battery-powered vehicles increased immediately by 160% compared to the second half of last year.

Total sales of vehicles with electric motors reached 2,6 million units. Demand significantly exceeded analysts' expectations. At the same time, the segment of cars with internal combustion engines grew by only a quarter.

Residents of the Celestial Empire were the most active buyers of vehicles - 47% of sales were in China. The European share accounted for 40%. At the same time, the European motorists are more actively switching over to electric vehicles - 15% against 12% in the People's Republic of China. Norway, as always, surprises. The share of battery-powered cars in the country of fjords has already reached 80%.

The U.S. market share of electric vehicles is 10%. About 250,000 vehicles have been shipped there. Accelerating the transition to electric-powered cars could be a $174 billion investment, as recently announced by Joe Biden.

Finally, Tesla still leads the market of electric cars. The share of the American company has reached 15%. Model 3 is the most popular car. Sales exceeded 1 million copies. The WV Group (13%) is in the second place. SGMW (11%) finds itself at the end of the top 3. BMW Group and Stellantis are in the top five. They got 6% of the market each.

Source: Canalys