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Electric vehicles made up 10% of the market for the first time in 2022

From the WSJ (EVs Made Up 10% of All New Cars Sold Last Year): 

Electric-vehicle sales crossed a global milestone last year, achieving around 10% market share for the first time, driven mainly by strong growth in China and Europe, according to fresh data and estimates.

While EVs still make up a fraction of car sales in the U.S., their share of the total market is becoming substantial in Europe and China, and they are increasingly influencing the fortunes of the car market there as the technology goes mainstream. The surge in EV sales also contrasted with the broader car market that suffered from economic worries, inflation and production disruptions.

Other manufacturers reported a similar divide of strong growth in sales of electric cars—boosted in part by the availability of a wider array of models in addition to market leader Tesla Inc.—and weak or declining sales of conventional vehicles. Ford Motor Co., Mercedes-Benz Group AG and BMW each said their EV sales more than doubled in 2022, while their total vehicle sales declined.

The biggest reason for the increase seems to be sales in China but there have been increases in the rest of the world:

This is likely to change with subsidies in China expiring after more than 10 years and the new $7500 US subsidy from the Inflation Reduction Act (WaPo: Sparks Will Fly in the Electric-Car Trade War).

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