New-Japan Business Consulting
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Global electric vehicle sales exceed 10 million units in 2022

Last year (2022), global electric vehicle (BEV/PHEV/FCEV) sales exceeded 10 million units. While global new vehicle sales stagnated at the level of more than 80 million units, electric vehicles recorded a 60% year-on-year increase and a threefold increase year-on-year. The global market share exceeded 13%. Generous purchase subsidies in various countries are seen as a driver of this rapid growth, while the diversification and individual optimisation of BEV products has also driven sales growth. In China, sales of BEVs from ethnic automakers, including the Hongguang EV and Tesla Model 3/Model Y, which are small, low-cost vehicles that do not meet the safety standards of developed countries, are growing strongly, while BEVs from foreign-owned German, Japanese, US and Korean automakers continue to perform poorly, with the main difference being the cockpit The major difference is said to be in smart functions where AI suggests window opening/closing and shopping based on voice switches in the cockpit and conversations with the driver. As a result, there is an increasing diversification of products developed individually and optimally to meet different needs in different regions, with clear shades of positive and negative sales depending on brand and model.