Contributed by Giles Kirkland

Electric vehicle sales have understandably been on the rise over the last ten years or so. The number of electric vehicles on the road in the United States has climbed from 100,000 in 2013 to more than 1.3 million by 2019.

At the same time, the percentage of new EV sales has grown to 2.6%. This might not sound like much, and indeed it will take a lot of work to drive those figures up even further. They are, however, a good indicator that we’re heading in the right direction.

What does the automotive industry look like now, worldwide? Let’s jump on in and see.

The latest statistics on EVs

According to research from the Edison Electric Institute, over 87,000 EVs were sold in Q3 2019. The study notes that EVs’ share of new car sales is increasing even as the overall number of new vehicle sales is on the decline. Researchers explained, “To date, five automakers have sold more than 100,000 EVs – Tesla, General Motors, Nissan, Ford, and Toyota. The current cap for the federal tax credit is 200,000 vehicles. These same five automakers account for nearly 80% of total EV sales.”

Global EV sales reached 1.1 million during the first half of 2019, a 48% increase on the same time the year before. China, in particular, reported a large rise, with a 66% increase in the number of sales compared to 35% in Europe and 22% in the US.

But how is all of this competition affecting EV pricing? Well, there’s a pretty big difference in pricing around the world. On average, EVs cost $27,000 in China, $34,000 in Europe and $35,000 in the United States.

The four most expensive models are the Tesla Model X ($81,000) and Model S ($75,000), the Audi e-Tron ($74,800) and the BMW i3 ($44,450). The Nissan LEAF, a trailblazer in the EV industry, was the cheapest, averaging at $29,990. The Volkswagen e-Golf ($31,895) and the Chevrolet Bolt ($36,620) are also at the low end of the scale.

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Source: 2019 in the automotive industry

What’s next for EVs?

As you can tell from the data, forecasts are pretty good for the EV industry. It’s estimated that there’ll be a million electric vehicles on roads in the UK by the end of the year, while between 2017 and 2025, the global EV market is expected to grow by 500% to reach a total size of $567 billion. Meanwhile, the EV infrastructure industry was bringing in $182 million of annual revenue by 2016. California alone has nearly 5,000 charging stations. There are probably more than 3.3 million battery-powered electric vehicles on the roads. We can expect that figure to keep growing in the years to come.

We’re also seeing huge amounts of growth and innovation from related industries. For example, research continues into new and improved biofuels or at increasing the life of EV batteries to combat range anxiety. Existing manufacturers are switching production and research to focus on building more EVs. New players are getting into the game with innovations. Legacy designs don’t hold them back.

The EV market will continue to grow in size in the years to come. It has to. Consumer demand, rising fuel prices, the climate crisis, and subsidies drive the trend. And if you’re working in the electronic automotive industry, you’re in the perfect place to take advantage. Good luck!

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Giles Kirkland is an environmentally conscious car expert and clean technology advocate. Passionate about healthy lifestyle and smart solutions, he shares his knowledge with other drivers and sustainable living enthusiasts. You can find his articles on Twitter and at Oponeo. Most often Giles writes about electric vehicles, safe driving, and alternative energy, as well as traveling and current issues from the automotive world.

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