The sales of electric vehicles appears to be booming – in China and Europe. The market appears likely to grow around 80% to 5.6 million cars this year.
Also, a lot of home chargers are getting installed – but here, the USA is a meaningful number.
From the underlying report:
11% and 17% of cars sold in China and Europe, respectively, were electric in 1H 2021, in contrast to 1% in Japan and 3% in North America.
The biggest car markets in Europe have made significant progress since 2019. Between 1H 2019 and 1H 2021, the EV share of sales has increased:
Bloomberg Zero-Emission Vehicles Factbook
● From 3% to 22% in Germany
● From 2.8% to 16% in France
● From 0.5% to 8% in Italy
I suspect that very soon, electric cars will be cheaper than cars with internal combustion engines, and that day will represent a tipping point. From that day (or year) onwards, I think electric car sales will dominate all car sales very rapidly.
An outlier here seems to be India – a big market, with very few electric cars apparently being sold there. Another strong data point that trade restrictions not only impoverish people, they harm the environment, I guess.