Global Automobile Market 2022

Table 3[1] displays the number of cars sold in 2013-2021 in the largest car market. In 2021, around 66.7 million cars were sold worldwide. Electric vehicles represent ca. 9% of the total market in 2021.  Regarding the CO2 goal from each country, there is a huge potential for the new EV companies. However, the traditional auto companies are also moving fast in this market. The competition will be fierce.

Table 3  Nr. Of cars sold in 2013-2021 in the largest car markets
Source: VDA

Among the European countries, Norway has been most aggressive in EV market. Table 4 and Table 5 display the market share of BEVs and PHEVs from 2017-2021 respectively. Pure EV accounts for about 13% market share in China in 2021.

Table 4 Market share of electric vehicles

Source: European Automobile Manufacturers Association

Table 5 Market share of Plug-in hybrid electric vehicles (PHEVs)
Source: European Automobile Manufacturers Association

Table 6 shows the number of cars sold across by country in 2021. The last three columns represent the brand, the sold units and its corresponding market share for the top selling car brand in each country. Suzuki has achieved extremely high market share, 44.3% in India even though there is a big vehicle market in India.  The local automobile manufactures, Toyota and Hyundai in Japan and South Korea respectively take account also a very high market share. It could be a challenge for the other foreign cars to expand EV market in Japan and South Korea especially when electric cars from Toyota and Hyundai become competitive.

Table 6 Sold cars by country in 2021

Source: https://www.factorywarrantylist.com/car-sales-by-country.html

__________________________________________________

[1] https://www.best-selling-cars.com/international/2021-full-year-international-worldwide-car-sales/