55 Interesting Electric Vehicle Statistics & Trends
Steve Birkett is an electric vehicle advocate based in Greater Boston, Massachusetts. He is a content creator and marketing professional who contributes written and recorded pieces to a wide range of media outlets. His analysis has been featured in Find The Best Car Price, WWLP TV, and Torque News, among others. He has also had video content featured on Inside EVs. Birkett was an EV Guide for Plug in America events in Massachusetts (Drive Electric Cambridge and Drive Electric Lowell) and Ohio (Earth Day 2019 at Cleveland Zoo). He participates in quarterly advisory panel meetings for EVolve New York (a state-level charging initiative) and has contributed to focus groups for prominent U.S. charging networks.
Birkett is a father-of-two who loves nothing more than packing up the family and hitting the road in their latest electric car, which is currently a 2022 Hyundai IONIQ 5. With multiple Chevy Bolts in his past, as well as a Chevy Volt and Tesla Model 3 LR in the extended family, plus various EV rentals when he ventures back home to his native United Kingdom, Birkett has more than 100,000 all-electric miles under his belt and is always ready to try out a new electric vehicle.
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Looking forward to 2023, we’re bound to see electric cars hitting the gas (metaphorically, of course) and leading the way with new, tech-forward vehicles.
But just how much can we expect to see this industry grow?
Here are 55 of the most interesting statistics and trends about electric vehicles.
Check out our updated list of general car buying statistics and trends for 2023 >>
Table of Contents
Need an expert quote for your story? We’re happy to help. Contact our Senior EV Editor Steve Birkett.
Key Electric Vehicle Statistics
- Electric car sales accounted for 5.6% of all new vehicles sold in the U.S. in 2022.
- 816,154 PHEVs and BEVs were sold in 2022.
- In 2022 new EV registrations hit 604,638, more than 60% higher when compared with the same period a year ago.
- J.D. Power analysts are expecting the market share of EVs in the U.S. to reach 12% next year.
- Under The Inflation Reduction Act, eligible EVs could qualify for a $7,500 tax credit if they meet the requirements of being built in North America and having sourced critical battery materials from the U.S. or free trade agreement countries.
- Global plug-in electric car sales in October 2022 increased by 55%.
- The best-selling EV in 2022 was the Tesla Model Y, with 191,451 US sales.
- As of September 4, 2022, there are 32 battery-electric vehicle models available in the U.S.
EV Sales and Battery Statistics
How many EVs are being sold? What manufacturers are selling the most?
And what the heck is going on with the batteries for these futuristic vehicles?
Let’s check out these sales and battery stats.
- Tesla’s stock has fallen 68% during 2022.
- China currently hosts as much as 90% of the global production of some key components for batteries.
- Atlas Public Policy recently tallied all the announced projects located in the United States and concluded that there were more than $128 billion of total announced investments into electric vehicle plants, battery plants, and battery recycling.
- In 2022 alone, companies announced more than $73 billion in planned projects for electric vehicle battery creation.
- Under current estimates, most electric car batteries will last somewhere between 15-20 years before they need to be replaced.
- When asked what makes them hesitant about purchasing an electric vehicle, the fear that a battery will die is an important worry cited by 33% of potential EV drivers.
- EVs are currently estimated to lose an average of 2.3% of their battery capacity per year.
- Almost all EV manufacturers offer around 8-10 years warranty for their battery pack.
- Passenger EV sales in China from January to November grew 100% year-on-year to 5 million units.
- Level 1 charging equipment provides charging through a common residential 120-volt (120V) AC outlet. Level 1 chargers can take 40-50 hours to charge a battery electric vehicle (BEV) from empty and 5-6 hours to charge a plug-in hybrid electric vehicle (PHEV) from empty.
- Level 2 equipment offers charging through 240V (in residential applications) or 208V (in commercial applications) electrical service, and is common for home, workplace, and public charging. Level 2 chargers can charge a BEV from empty in 4-10 hours and a PHEV from empty in 1-2 hours.
- Direct current fast charging (DCFC) equipment can charge a BEV to 80 percent in just 20 minutes to 1 hour. Most PHEVs currently on the market do not work with fast chargers.
EV Car Buying Consumer Behavior & Trends
What are EV buyers looking for in a car? Are people staying loyal to EVs once they purchase their first one?
And what’s the general attitude of consumers towards electric vehicles in general?
While popularity and interest have certainly increased in the last year, there are still a good amount of folks who remain hesitant about the possibility of driving an electric vehicle. Skeptics cite concerns about a lack of charging stations and battery longevity as the top reasons why they won’t be buying an EV just yet. (Also, they’re still more expensive upfront.)
- In a recent Bloomberg survey of EV drivers, 14% of respondents said they owned more than one battery-powered vehicle, and 6% of those surveyed had three or more.
- 26% of EV buyers in the second quarter either traded their used electric car for a new one or simply added another to their garage, according to Edmunds.
- 9% of recent EV buyers were already driving a hybrid.
- 49% of prospective EV owners fear being unable to find a charging station.
- According to Inside EVs, over 40% of consumers report “cost” as a reason not to buy an EV.
- More than one in four Americans say they would not consider buying an electric vehicle.
- Only 14% of respondents said they would definitely buy or lease an EV.
- 22% of respondents said they would consider getting an EV as their next car.
- 35% said they might consider an EV in the future.
- About 60% of those surveyed said that with electric cars, they'd have to worry about when and where they could charge their vehicle.
- About 55% of respondents also expressed concerns about the range provided by the battery of an EV.
- Almost half of all Americans surveyed (46 percent) said that they were unaware of any such government incentives for buying electric vehicles.
EV Demographics
Who is buying EVs in 2023?
It appears that the average EV buyer is a young adult, environmentally conscious, Democratic male living in California.
Here’s what the rest of the demographics of EV buyers look like.
- Over a quarter of EV buyers are aged 35-49.
- 40% of EV buyers are aged 18-34.
- 68% of EV buyers are men vs. 32% of EV buyers are women.
- 44% of EV-interested consumers identify as Democrats, while 23% say they are Republicans.
- 35% of interested EV buyers identify as Hispanic, Black, Asian, or another race.
- 70% of interested EV buyers claim protecting the environment as their primary reason for buying EVs.
- California continues to lead the nation in EV sales, with BEVs, PHEVs, and FCEVs making up nearly 18% of new light-duty vehicle registrations in the first quarter of 2022.
- There are currently 13 additional states and the District of Columbia with new vehicle EV registrations above 5%.
The Future of Electric Vehicles: EV Forecast Statistics
What does the next decade look like for the EV market? Will it continue its upward trend, or will it lose momentum?
It seems like all signs point toward exponential growth in the EV industry with government incentives and a larger, more affordable market making electric vehicles more accessible and appealing to the average consumer.
- In projections that were updated in October, the IEA said that under current government policies, it expected EVs to make up more than 25% of total global light-vehicle sales in 2030, with BEVs making up about two-thirds of sales.
- Under government policies tied to a “sustained development scenario,” the IEA projected EV sales would exceed 45% of total vehicle sales in 2030.
- China will be making over eight million electric cars a year by 2028 compared with one million” in 2020.
- Piper Sandler analyst Alexander Potter forecasts EV penetration at 94% by 2040.
- The electric vehicle global market is expanding at a CAGR of 21.7%, which is expected to continue.
- Growth from 8.1 million units is anticipated to reach 39.21 million by 2030.
- Stanford developed a machine learning program that is reducing battery testing times by 98 percent. Before this discovery, new battery technologies had to be tested for months or years to determine how long they would last. This means batteries can be produced more quickly in the future.
- SCE’s Charge Ready aims to install 50 percent of the chargers in state-designated disadvantaged communities, making EVs more accessible to a larger group of people.
- Charge Ready received a considerable boost from the California Public Utility Commission, which approved $436 million to support the installation of 38,000 charging ports over the next four years.
- California Governor Gavin Newsom’s executive order to have all vehicles sold in the state be zero-emission vehicles by 2035, meaning EV sales will skyrocket in the coming decade in Cali.
- In 2023, more than 40 new EV models are debuting or launching for customers, most of them being SUVs.
Impact of Chip Shortage on EVs
What about the chip situation?
Though EVs require a whole lot more semiconductor chips than traditional gas vehicles (like, ten times more), chip producers have focused their resources on more expensive cars like EVs to secure a bigger ROI.
The new CHIPS Act also promises to speed things along, incentivizing more production in the U.S. so that the industry is less reliant on China’s resources.
- Electric vehicles have been severely impacted by the chip shortage because they require a lot more to run their systems. For instance, a Ford Focus uses roughly 300 semiconductor chips, whereas the electric Mach-e utilizes almost 3,000 semiconductor chips.
- AutoForecast Solutions, which tracks global vehicle production cuts due to the chip shortage, increased its estimate of vehicles lost to the chip shortage to 3.3 million vehicles.
- However, EVs have suffered the shortage less because automakers are prioritizing chips for more expensive vehicles like trucks, SUVs, EVs, and other luxury cars to bolster their return on investment.
- With 70 to 80% of the current battery components of semiconductors being processed in China, U.S. battery production has to increase if we want to see more EVs available. The recent CHIPS act is sure to increase local production of these chips, leading to a better supply for the EV market in the U.S.
Overall EV Trends & Analysis
It’s going to be a good year (honestly, a good few decades) for EVs.
With increased demand leading to increased supply, new laws being passed to make EVs more accessible and attractive, and more environmentally-conscious Gen Z-ers entering the car-buying market, 2023 is set up to be the most successful year for the electric vehicle industry thus far.
Show Last Year's Stats
2022 EV Car Buying Stats
Before COVID-19, EVs were gaining popularity and eating up a significant share of the car market. The pandemic and the inventory shortage disrupted the auto industry as a whole, with EVs taking a hit like everyone else, but it maintained steady sales as the year progressed. For more general car buying statistics, check out our post here.
As governments, automakers, and consumers begin to embrace EVs, what does the future hold?
As we close out the year, there are many key EV stats to consider. So our experts have reviewed some of the most important and interesting electric vehicle trends and statistics.
We surveyed 2,000 car buyers to see their preferences and views on EVs in 2022. Check out the survey results here.
EV Sales & Battery Statistics
EVs are recovering as the overall state is overwhelmingly positive, with many seeing the reasons behind buying an electric car and planning to enter the market. But, we did find that there are differences in key regions. For example, in the US, Tesla is the major player while BYD is the leading brand in China.
- Globally, the stock share of electric LDVs (Light Duty Vehicles) will increase from less than 1% in 2021 to 8% in 2030. (IEA)
- As of 2021, the battery pack for BEVs has an average range of 279 miles and is expected to exceed 300 miles by 2023. (Evadoption)
- The national average for EV charging is $0.13 per kWh. (EIA)
- The population of non-OECD countries is expected to grow at over three times the population growth rate of OECD countries, and that the non-OECD motorization rate will increase from 92 vehicles per thousand people to 173 vehicles per thousand people between 2020 and 2050. (EIA)
- The lifetime fueling cost (15 years) for EVs is between $3,000 to $10,500 lower than the costs of a traditional gasoline-powered vehicle. (NREL)
- The significant growth of EVs leading up to 2030 will present major opportunities and challenges for traditional original equipment manufacturers (OEMs), new-entrant OEMs, captive finance companies, and dealerships. (Deloitte)
- Due to increasing fuel prices with the national average price for a gallon of gasoline rising six cents to $3.38, gas car owners are now considering purchasing an EV. (Forbes)
- It is estimated that 6.4 million Electric Vehicles will be sold globally by the end of 2021. (Virta)
- On a global scale, 1 in 250 cars on the road are electric vehicles. This means that electric vehicles account for 2.2% of the global vehicle market share. (Quartz)
- The global electric vehicle market is dominated by major players such as Tesla (US), BYD (China), BMW (Germany), Volkswagen (Germany), and Nissan (Japan). (Markets and Markets)
- Most EV sales in the US are in markets with some combination of the following: ZEV regulation, incentives, an extensive charging network, and city/utility promotions. (The ICCT)
- Scheduled maintenance costs will be 40% lower for the E-Transit compared to the gas model over eight years or 100,000 miles. (AutoNews)
EV Car Buying Consumer Habits & Trends
The major concern for EV adoption in the US in 2021 is charging infrastructure, which is closely tied to the other barrier of driving range. Consumers are not as concerned about the price, but it is still on their minds as they compare EV and ICE models. It’s not always a simple swap, and preparation has to be done before buying an EV. While other countries are quicker to rebound from the drop in EV sales, the US continues to lag for several key reasons.
- The United States EV market is almost single-handedly being carried by the success of the Tesla Model 3 – which is responsible for almost half of all EV sales. (Deloitte)
- Between July and September 2021, Tesla deliveries crossed the 240,000 unit threshold. Compared to 500,000 units sold in all of 2020. (Statista)
- The top reasons that the US lags behind the rest of the world in terms of EV sales are a lack of government commitment to EVs, insufficient or unsuitable charging infrastructure, unavailability of EVs, and cultural differences regarding mobility models. (Deloitte)
- In 2021, the biggest barrier for EV adoption was concern about the lack of electric vehicle charging infrastructure. (Uswitch)
- In the Northeast, 83% of people surveyed believe that there are not enough charging stations available. (Drive Change Drive Electric)
- 8 out of 10 people surveyed said they have concerns about the distance you can drive an electric vehicle before needing to recharge it. (Drive Change Drive Electric)
- The top areas driving the market for consumers are technology (batteries improving), policies, economics, and companies accelerating investments in EVs. (BNEF)
- Automakers should note, traditional features such as safety and design should not be overlooked. Consumer target needs must be understood; incentives are important to middle-class buyers. (IPSOS)
- According to Ford's telematics data, commercial businesses use their vehicles for an average of 74 miles a day, well within the E-Transit's range, even after accounting for cold weather or heavy cargo loads. (AutoNews)
EV Demographics
Up to this point, many EV car buyers were Gen X males, likely due to the premium price tag. However, we can expect Millennials to know the key EV facts to be able to drive the change to EV technology. While Baby Boomers are slower to adopt, they too show promise to change to EVs. Overall, automakers are well-served to target Millennials, while still considering their unique sub-markets.
- Today’s consumer profile in the electric car market is evolving from early adopters and technophile purchasers to mass adoption. (IEA)
- Millennials are more accepting of electric cars than Baby Boomers in the Northeast. 63% of Millennials consider an EV when shopping for a new vehicle, versus only 38% of Baby Boomers. (Drive Change Drive Electric)
- Despite differences in electric car knowledge, both Millennials and Baby Boomers are eager to see more electric vehicles introduced. (Drive Change Drive Electric)
- One of the biggest purchase motivators is incentives from the state or federal government. (Drive Change Drive Electric)
- According to Julia Rege, senior director of environment and energy at the Global Association of Automakers, “to date, electric car sales have been dominated by Gen-X men. However, with two out of three Millennials considering an electric car for their next vehicle, we could see a substantial shift in the marketplace.”. (Smart Energy)
- The results of the Drive Change Drive Electric study suggest that the technology revolution for EVs will be driven by Millennials. Additionally, Baby Boomers may take longer to learn about technology, but they will also come to participate in the change. (Drive Change Drive Electric)
- Automakers can confidently target millennials, who have an early adoption attitude and broad tech knowledge. (IPSOS)
The Future of Electric Vehicles: EV Forecast Statistics
The future of EVs is bright, albeit with some significant regional variation. Several automakers are accelerating EV launch plans, with many new models to come in the upcoming years. Tightening government regulations are a huge driving force for EVs, and differences in policies affect EV adoption around the world. EV manufacturers are still working to eliminate the biggest barriers to entry, which they are already addressing at an impressive rate.
- Deloitte’s global EV forecast is for a compound annual growth rate of 29% achieved over the next ten years. (Deloitte)
- In the United States, IHS Markit predicts there will be 130 available models by 2026, offered by 43 brands. (Deloitte)
- Automakers are accelerating their EV launch plans, partly to comply with increasingly stringent regulations in Europe and China. (BNEF)
- By the end of 2022, Hyundai will have three new hybrid vehicles, two plug-in crossovers, three battery EVs, and the current Nexo fuel-cell crossover. (AutoNews)
- In the Stated Policies Scenario, the global EV stock across all transport modes grows from over 5.6 million in 2021 to just under 145 million vehicles by 2030. That’s an annual average growth rate of nearly 30%. (BNEF)
- Hyundai's EV ambitions in the U.S. align with the expected pro-environmental policies of President-elect Joe Biden and even the new California policy of requiring all new cars sold in the state to be EVs by 2035. (AutoNews)
- "I think for us, it's (California’s 2035 mandate that all new cars sold in the state be zero-emission vehicles) very good. We are just launching more battery EV cars, we have a plan to more than double [the models] in three years, so we are set for success." from the CEO of Hyundai USA. (AutoNews)
- To date, 17 countries have announced 100% zero-emission vehicle targets or the phase-out of internal combustion engine vehicles through 2050. (IEA)
- The vehicle (Ford Motor Co.'s 2022 E-Transit van) is part of Ford's $11.5 billion global bets on electrification. (AutoNews)
- European emissions standards persuaded manufacturers to favor the production of zero emissions, which has prompted the rise of Electric vehicles with some 378,466 EV’s being registered from January to October 2021. (Automotive News)
- Within the next few years, Deloitte estimates some barriers for EVs will be obsolete. Specifically, the driving range is fast catching up to ICE vehicles, price is reaching parity (when considering subsidies), and the number of models available is increasing. (Deloitte)
- The United States currently has a total of nearly 43,000 public EV charging stations and roughly 120,000 charging ports. (U.S. Department of Energy data)
- EV sales demonstrate regional disparities. Sales of BEVs increased by 93% in Europe, 17% in China, and 22% in other regions. In the US, the market for BEVs fell by 2%. The speed of recovery after COVID-19 is also expected to vary by region. (Deloitte)
- China accounts for the largest share of global EV sales as it looks to reduce energy imports, clean up urban air quality, build its domestic auto industry, and attract manufacturing investment. (BNEF)
Impact of Chip Shortage on EVs
The auto industry is already announcing 2022 production shortfalls, which can have a detrimental impact on how the EV market grows. This could be a result of a variety of different reasons, however, chip shortages are a key factor.
- The chip shortage issue is most likely to run through 2022 and it could extend into 2023, although we do anticipate the scope and severity of that to reduce as we move through 2022 into ‘23. (Ford) — John Lawler, CFO
- 2022, like 2021, will not see historical summer lows in the demand cycle which in years past has been used to rebuild inventories. Tight supply will continue across almost all chip types, but is more pronounced in mature and legacy nodes. (BCG)
- We have seen some price increases on what I'll call the constrained chips, that I think will continue into next year. (APTIV) — Joseph Massaro, CFO
- The ongoing global semiconductor chip shortage remains the most significant headwind to global industry production. There have been some signs of improvement recently. However, it remains to be seen when the industry will return to a more stable rate of production. (CONTINENTAL) — Swamy Kotagiri, CEO, Nov 5, 2021
- 2022 is expected to see just under 80 million units produced. (BCG)
- New vehicle sales are currently constrained by reduced production volume, low inventory levels, leading to even more pent-up demand and should support sales for the foreseeable future. (AUTONATION) — Mike Jackson, CEO and Director.
- Semiconductor demand is expected to outstrip supply by 10% in 2022. (BCG)
- A worldwide shortage of EV components has been named as the top barrier in the rollout of electric vehicle infrastructure. (Versinetic)
Overall EV Trends & Analysis
While COVID-19 certainly disrupted the growth of the EV market, the industry shows no signs of slowing down. However, the recent semiconductor shortage has impacted EV production. Most experts believe this shortage will carry through 2022, but the severity and scope will drop throughout the year.
Government policies, reduction of purchase barriers, automaker adoption, and changing consumer attitudes are all top factors that contribute to the expected growth of the EV industry.
This year, we did not see the EV sales we expected, but the market shows immense promise for bouncing back. At first, early adopters of EV were overwhelmingly Gen X men, but the future of EV lies heavily with Millennials.
While car shoppers still have some concerns about making the switch to EVs, automakers are working hard to address their concerns and eliminate the remaining barriers to purchase. Overall, many of these electric vehicle statistics show that we can expect immense growth of the segment worldwide, as infrastructure expands and EV technology rapidly improves.
For more EV-related stats, check out the results and analysis of our EV survey.
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