Sales of electric vehicles will increase by 109 percent in 2021 compared to the previous year
Mainland China with 3.2 million EVs sold – about half of all sales worldwide
Tesla is the market leader with a 14 percent share – the competition is catching up
According to a study by analytics firm Canalys, 6.5 million electric vehicles were sold worldwide in 2021 – a 109 percent increase from 2020 – while the overall global auto market grew just four percent last year as the auto industry continued to cope with coronavirus restrictions and had to contend with semiconductor bottlenecks. The Canalys report shows that electric vehicle sales accounted for 9 percent of all car sales in 2021. The analysis company counts both fully electric vehicles and plug-in hybrid cars among the electric vehicles. As Canalys reports, demand for EVs has remained strong in 2021, but many more EVs would have been sold had it not been for the component shortages that continue to plague automakers around the world.
Chinese EV market is booming
Canaly’s study found that more than 3.2 million electric vehicles were sold in mainland China in 2021, about half of all electric cars sold worldwide and two million more than in 2020. A total of 15 percent of new cars sold in mainland China last year were EVs – more than double the percentage in 2020 – and Canalys analysts still see a great opportunity for future growth in 2022 and beyond . “Many new models are launched each month in every major market segment, from small, affordable city cars to mainstream and premium sedans and SUVs,” said Jason Low, principal analyst at Canalys.
According to Canalys, the best-selling EV model in mainland China last year was the Wuling Hongguang Mini EV. The Model Y and the Model 3, two models from the US electric car manufacturer Tesla, came third and fourth. But BYD has also expanded its range of electric vehicles and is the leading electric vehicle brand in China with several popular all-electric and plug-in hybrid models, according to the analysis company.
Electrification is also progressing in Europe
In Europe, too, traditional car manufacturers are increasingly switching to vehicles with electric drives. The Canalys study found that electric vehicles accounted for 19 percent of all car sales in Europe last year. 2.3 million EVs were shipped last year, accounting for about 35 percent of all electric cars sold worldwide. In Europe, Tesla’s Model 3 was the number one selling electric car, while VW was the leading EV maker, with several models from AUDI, Skoda and VW also selling well, according to Canalys. Canalys analyst Ashwin Amberkar sees continued strong demand for electric vehicles in Europe: “In fact, electric vehicles accounted for more than a quarter of new car sales in many European countries.” However, he also points out that customers sometimes have to wait nine to twelve months for a new electric vehicle.
US market lags behind
While mainland China and Europe had a strong share of EVs in new vehicle sales last year, EV sales in the US continue to lag, according to Canalys. The study found that while several new electric vehicles were launched and sales momentum and consumer interest were increasing, only four percent of new cars sold in the US in 2021 were electric vehicles. According to calculations by Canalys, the USA accounted for around eight percent of electric cars sold worldwide in 2021.
According to the analysis company 2021, the market leader in the US market was Tesla – the Musk group had an estimated share of almost 60 percent. “Competitor EV sales in the US are nowhere near as high as Tesla’s since Model 3 deliveries ramped up in 2018. Tesla even outperforms many premium car brands in the overall market,” said Chris Jones, VP and Chief Analyst at Canalys. Jones also expects that “pick-up trucks [] will give the US market for electric vehicles a huge boost in 2022”.
Tesla remains market leader – competition is catching up
Canalys’ study found that in 2021, Tesla not only ranked number one in the US, but also led the global electric vehicle market, with a 14 percent share. Model Y sales started in major markets in 2021 and quickly overtook Model 3 in mainland China and the United States, according to Canalys. Tesla’s vehicle production is “well-established in mainland China and will start in Europe in the first half of 2022,” according to the analytics company. Tesla is currently focused on delivering existing models and has no plans to launch any new models in 2022.
The Volkswagen Group came in second with a market share of twelve percent. According to Canalys data, the company doubled its EV sales in 2021 compared to the previous year, leading the market in Europe. Almost 60 percent of the group’s EV sales came from the VW brand, but the AUDI, Cupra, Porsche, SEAT and Skoda brands also supported it, “giving the company a presence in a number of EV segments,” according to Canalys.
The Shanghai Automotive Industry Corporation (SAIC) follows VW in third place. SAIC, China’s largest automotive and parts maker group, accounted for 11 percent of the global electric vehicle market last year, according to Canaly’s study. The big success within the group, as mentioned earlier, is the Wuling Hongguang Mini EV, which occupies the top position in mainland China. According to the analysis company, electric vehicles from SAIC’s own brands Baojun, Maxus, MG and Roewe also contributed to the group’s success.
Another Chinese electric car manufacturer, BYD, follows in fourth place. According to Canalys data, BYD had a nine percent share of the global EV market last year and had “a particularly strong second half of the year”. Electric vehicle sales have grown by more than 200 percent in 2021, according to the analysis, with more than 12 models available in mainland China. However, the company has also expanded beyond mainland China.
The automaker Stellantis, which was formed in January 2021 from the merger of Fiat Chrysler and PSA, was the fifth automaker with the largest market share of electric vehicle sales worldwide in 2021. As Canalys reports, Stellantis had a market share of six percent last year. Vehicles from Peugeot, Opel/Vauxhall and Fiat have all sold well, according to Canalys, with “electrified versions of popular compact cars [] were the “key to success” in Europe.
According to data from Canalys, BMW had a five percent share of the global EV market last year, putting it in sixth place. BMW increased its electric vehicle sales by 70 percent but lost ground to its faster-growing competitors, the analytics firm said. The best-selling electric vehicle in 2021 was the Chinese-built BMW iX3, with China as the largest end-user market. This was followed by the Mini Cooper SE and the BMW i3.
According to Canalys, the South Korean car manufacturer Hyundai will also have a five percent share of the global EV market in 2021. According to the analysis company, Hyundai and Kia “performed well with their twin models”. The Hyundai Kona and Kia Niro sold well in 2021, and the Hyundai Ioniq 5 and Kia EV6 hit the market in mid-2021. In addition, the group has so far mastered the shortage of chips better than many of its competitors.
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