Overall, the chart shows an increase trend in the sale of electric cars in all the reported regions over the span of 8 years starting from 2016. The overall growth in electric vehicle market during the reported duration was the maximum for China compared to the other two regions.
All the regions started off at around a quarter millions in sale at 2016 with China leading the charts by a small margin. China saw a minor growth in the year 2017 and 2018 but the growth became stagnant up until 2021. In 2021, China’s sale increased by almost 3 times compared to the prior year. This increasing trend continued till 2023 albiet with a reduced rate of approximately 200% for 2022 and 67% for 2023.
Now between the two slower growing regions, the sales in Europe gained traction one year earlier compared to that of United States, in 2020. In fact, Europe passed China in sales in the year 2020 and it is the only year any of the reported regions ever topped the sales in China. While Europe’s sales were not as staggerring as that of China in post 2020, they continued to hold the second place ever since 2021. Finally for the slowest growing region, the market in United states maintained the last place ever since it took off in 2021. However, the pre-growth market was nearly tied with Europe in 2016 and 2018.
