Have Combustion Vehicle Sales Already Peaked?

Electric vehicle (EV) sales have grown rapidly over the past few years, but have they managed to make a dent in the global market?

To find out, we’ve visualized data from BloombergNEF that breaks down annual vehicle sales by three categories:

• Internal combustion (including traditional hybrids)
• Plug-in hybrids
• Battery electric

From this, we can see that EVs are definitely building up market share. In fact, combustion vehicle sales appear to have peaked in 2017.

We can see that EV sales really picked up steam around 2019. This is likely due to various government subsidies and a growing list of models to choose from. EV ranges, once a major limiting factor, are also becoming less of a concern as battery technology improves and more charging stations become available.

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