In 2018, electrified vehicles, including plug-in hybrids and all-electric vehicles, racked up two million sales. So far, 2019 is on track to hit the 3.5-million electrified vehicle sales mark.
In February alone, 111,541 electrified vehicles were sold globally. 78,000 of which were all electric cars — around 70% of the total. This puts electrified vehicle sales up 31% year over year and at right around 1.4% of the total global vehicle retail market. Around 271,000 electrified vehicles were been sold around the world in just the first two months of the year.
The number-one selling global EV in February was the Tesla Model 3, according to EV Sales Blog, of which 10,436 units were sold. The number-two best-selling EV was the Nissan LEAF, which racked up 5,382 sales in February.
This is good news for EV fans. However, such impressive sales growth needs to be put into context before we have a ticker tape parade.
EV sales alone only accounted for around two percent of total U.S. retail auto sales last year. The market share electrified vehicles control in the States is only expected to grow by three to four percent annually over the next decade. That would result in fossil fuels still powering seven in ten vehicles in the U.S. by the year 2030. By comparison, due to strict regulation, electric vehicles are anticipated to represent 52% of China’s retail vehicle market share by the end of the next decade.
Certainly, we’re seeing electric vehicles gaining impressive ground in the global retail market. In order to make a meaningful impact on reversing global warming, however, those sales figures will have to grow exponentially — not just incrementally.