Strategy&, PwC's strategy consulting group, has released its report on battery electric vehicle sales in the last quarter of 2022. According to the report, despite geopolitical tensions and high energy prices, sales of battery electric vehicles increased by 70% year-on-year worldwide. The US achieved the highest annual growth in electric vehicle sales among all markets studied, followed by China and Europe. In Turkey, battery-powered electric vehicle sales increased by 172% compared to the previous year and reached 7.743 units.
PwC and strategy consulting group Strategy& have shared its report on worldwide battery electric vehicle (BEV) sales in the fourth quarter of 2022. Report; It reflects data compiled from markets such as the USA, Europe, China, Japan, South Korea and Turkey.
Even geopolitical tensions and high energy prices have not changed this trend, with battery electric vehicle sales increasing by 2022 percent year-on-year worldwide in 70, according to the report, which shows continued consumer interest in electric transformation. In terms of total cost of ownership, electric vehicles have outstripped internal combustion vehicles, even at current electricity prices.
172 percent increase was recorded in Turkey
According to the information given by Strategy& Turkey Leader Kağan Karamanoğlu, 2022 battery electric vehicles were sold in Turkey throughout 7.743. Karamanoğlu continued his words as follows: “Although the amount is low, sales in Turkey increased by 172 percent compared to the previous year. Plug-in hybrid vehicle sales (PHEV) increased by 15 percent year-on-year to 1.000 units. Hybrid vehicles (HEV) in Turkey continued to have the largest share among electric vehicles throughout the year, accounting for 8 percent of the total market”.
US market revived
According to the report, which examines the electric vehicle market on a country-by-country basis, the USA is on a remarkable rise. The expected revival in the battery electric vehicle market in the USA, which lagged behind the development seen in China and most of Europe, took place in 2022. It achieved the highest annual growth in electric vehicle sales among all markets studied, with an increase of 88% compared to the previous year. Investments by original equipment manufacturers (OEMs) in new and attractive models, government incentives and developing charging infrastructure were effective in this rise.
BEV sales in the US nearly doubled year-on-year, with a 2022 percent increase in the fourth quarter of 92. Despite the 2022 percent decrease in powertrain sales in the USA in 8 due to the austerity of customers in the face of challenging economic conditions, such an increase is remarkable in terms of showing the trend in the consumer.
China is growing steadily, Germany and England draw attention in Europe
China comes right after the USA. Continuing its impressive growth in recent years, battery electric vehicle sales in the country increased by 2022% in 85. Looking at the total sales of battery, plug (rechargeable) and hybrid electric vehicles, it was seen that sales increased by 87% compared to the previous year. This increase marks by far the highest rate in the analyzed markets.
Growth in Europe, the third largest focus group, was modest but still significant compared to the US and China.
The five largest markets in Europe, France, Germany, Italy, Spain and the UK, grew by 28 percent compared to the previous year. Battery electric vehicle sales increased by 2022 percent in the fourth quarter of 39 compared to the same period of the previous year.
Two countries stood out in this increase: Germany and England. While the UK is the country with the highest acceleration with an annual growth rate of 40 percent, sales in Germany increased by 2022 percent in the fourth quarter of 66 compared to the same period of the previous year. This situation in Germany has been described as the “highest battery electric vehicle growth”. Consumers in Germany acted quickly, ahead of a cut in government subsidies at the beginning of 2023, purchasing more hybrid and battery electric vehicles than internal combustion engine (ICE) vehicles for the first time in the fourth quarter of 2022.
In other European markets, interest in battery electric vehicles was noted by a noticeable margin in Sweden and Norway. Sales increased by 2022 percent in Sweden and 84 percent in Norway in the fourth quarter of 76 compared to the same period of the previous year. In addition, Sweden had the highest increase rate of 2022 percent in 66 in the group of other European markets.