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Electric Vehicles Market Monitor For Light-duty Vehicles: China, Europe, United States, And India, 2023 H1

In the global market, the sales of light-duty EVs reached around 6 million in the first half of 2023 (2023 H1), representing nearly 14% of new LDVs sold worldwide. The briefing provides an analysis of the electric vehicle (EV) market development and fleet carbon dioxide (CO2) emissions trends in 2023 H1, focusing on the major markets for light-duty vehicles (LDVs) (China, Europe, the United States, and India), which collectively accounted for approximately 63% of global LDV sales in that period.

Most global EV sales, approximately 80%, were concentrated in those four largest markets. China remained the world’s largest EV market, with approximately 3 million EVs sold in 2023 H1, constituting 29% of all new LDVs sold in the country, marking a 5 percentage point increase from the previous year. Europe saw EVs accounting for 20% of new LDVs sold in 2023 H1, a slight decrease from 2022. The United States experienced an increase in EV market share, reaching 9% in 2023 H1, up from 7% in 2022. India’s EV market also grew, but it lagged behind the other major markets with a 2% market share in 2023 H1.