Electric Vehicle Sales Are About To Pass a Remarkable Milestone

Global electric vehicles sales are poised to reach a 20 million milestone in 2022. Why is this so impressive?
Written by Allison Stone
Reviewed by Kathleen Flear
Apr 25, 2022
If you’re still an
electric car
skeptic, some recent estimates on
sales
by the end of 2022 just might convert you to a believer. By June 2022, economists estimate that there will be 20 million plug-in electric vehicles on the road globally—the majority of which were sold in just the last 18 months. That’s a huge increase from 2016, when there were just one million. 
According to
Bloomberg
, in the second half of 2022 there will be one EV added to the global fleet about every three seconds, totally an approximate 26 million by the end of 2022. There are also 5.3 million plug-in hybrids, but experts expect a shift away from hybrid technology as fully electric cars become more popular and accessible. 

Electric vehicle adoption is happening quicker than you think

While you might not see many electric cars on the road yet in your neighborhood, the exponential growth of the global industry is arguably the most radical shift in the automotive market in some time. 
Bloomberg previously estimated that there would be 71 million plug-in vehicles on the road by 2035, but it looks like we might be reaching that goal a full 10 years earlier than anticipated.

China leads electric vehicle sales

Accounting for 46% of total EV sales to date, China leads the way by a large margin. Following in second is Europe, making up for 34% of global EV sales, with North America in third at 15%.
Not everyone is adopting EVs at the same pace, however. Surprisingly in Japan, the world’s second-largest automotive market after China, Japanese automakers have been much slower to adopt electric car technology. 
Emerging markets that could become future power-players in the electric car segment include India, Brazil, Mexico, and Southwest Asia. 

A changing automotive marketplace

While consumer demand has driven much of the popularity of electric cars, increasingly strict emissions standards have also made a large contribution to sales. In Europe, for example, falling in line with stringent emissions targets for the future mean that for many, buying a hybrid or electric car is the best plan.
If you’re thinking about buying your first electric car, you can always get a good deal on
car insurance
with the
Jerry
app.
Jerry is a car insurance broker super app. In the time that it takes you to fill out the introductory form, you’ll be connected to instant insurance savings from 55+ major providers and their policies in less than a minute. Jerry contacts your insurance company to get the details of your current coverage, so you get all the best prices and coverage with none of the legwork. 
Nervous about the hassle of changing plans? Jerry will even help you cancel your old policy. Jerry customers save an average of over $800 per year!
icon
Compare Car Insurance Quotes For Free
Jerry automatically shops for your insurance before every renewal. Members save $872/year.
rating primary
4.7/5
Rating on App Store
Start saving money!
12,000+ Reviews
Trusted by 3.5M car owners like you
National General
Allstate
AAA
Aig
Chubb
ClearCover
CSE
Dairyland
DirectAuto
Elephant Auto Insurance
Kemper
Libertymutual
Gainsco
Mapfre
Mercury Auto
Metromile
Nationwide
Plymouth Rock
Progressive
State Auto
Safeco
Travelers
Metlife
Bristol West
National General
Allstate
AAA
Aig
Chubb
ClearCover
CSE
Dairyland
DirectAuto
Elephant Auto Insurance
Kemper
Libertymutual
Gainsco
Mapfre
Mercury Auto
Metromile
Nationwide
Plymouth Rock
Progressive
State Auto
Safeco
Travelers
Metlife
Bristol West

You might also be interested

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings — it's 100% free