Tesla delivered phenomenal growth in global EV sales in Q1 2022. Global EV shipments are up 79% year-on-year, with Tesla leading the market.
Global deliveries of electric vehicles in Q1 2022 increased by 79% year-on-year to 1.95 million units. According to the Counterpoint report, this was due to Tesla recording phenomenal growth for the year. The Texas-based manufacturer delivered 310,048 electric vehicles and took a 16.7% market share. In Q1 2022, it sold more vehicles than the next three OEMs combined in the BEV segment. Tesla's Model Y and Model 3 currently hold the first two positions.
Of the 1.95 million units, battery electric vehicles (BEVs) accounted for an impressive 73%, according to the research firm. Only 27% were plug-in hybrid electric vehicles (PHEVs). Here we see a smooth shift of consumer interest towards BEVs, which is a global trend noticed in recent months in many markets around the world. Over time, more automakers began to offer BEV models, expanding the choice. In addition, greater consumer education has led to the realization that plug-in hybrids are not really environmentally friendly at all. They have too small batteries to offer sufficient range. Because of this, the owners of such vehicles prefer to use a gasoline engine in the vast majority of cases.
“Technological development is the key reason behind the increase in EV shipments. Battery technology has undergone recent breakthroughs. These developments have made batteries capable of longer ranges and longer overall lives. Range anxiety, one of the barriers to EV adoption, has reduced. The development of composite charging network infrastructure, subsidies from governments on EV purchases and increasing fuel prices combined with increasing environmental awareness are other reasons,” Senior Research Analyst Soumen Mandal, said in a statement.
In Q1 2022, the share of electric vehicles in the global passenger car market was 12%, which shows that there are still many challenges that need to be addressed to increase the spread of EVs. “With EVs comprising just 12 per cent of the total passenger vehicle shipments during the first quarter of 2022, there is a lot of scope for expansion. Fresh players are entering the market to benefit from the opportunity,” said Mandal.
“To counter new entrants, existing players are using leading-edge technologies to have improved battery, superior IVI system, and higher levels of ADAS in their EV models as major selling points,” he added.
Tesla is currently the world leader in the electric vehicle market. The company's deliveries grew 68% year-on-year in Q1 and are expected to exceed 1.3 million units by the end of 2022. China remained the market leader in the supply of electric vehicles, followed by Europe and the United States.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.