Evolution of HEV sales in Europe, China and the USA
- The HEV market has progressed a lot in Europe and the United States, while in China the progress is still quite limited regarding the local market size.
- In Europe, the average market share which was 2.6% of total passenger car registrations in 2017 increase to 2.8% in 2018 then 3.2% in 2019, 4.1% in 2020, 5.3 % in 2021 and 7.3% in 2022. Volumes increased from 403,720 units in 2017 to 408,559 in 2018, 512,852 in 2019, 492,535 in 2020, 626,852 in 2021 and 828,333 in 2022.
- In China, the average market share which was 0.5% of total passenger car registrations in 2017 went to 0.8% in 2018 then 0.9% in 2019, 1.2% in 2020, 2.4 % in 2021 and 3.2% in 2022. Volumes increased from 111,505 units in 2017 to 175,132 in 2018, 195,661 in 2019, 237,939 in 2020, 515,705 in 2021 and 748,202 in 2022.
- In the United States, the average market share, which was 2.1% of total passenger car registrations in 2017, 2.2% in 2018 then 2.4% in 2019, 3.2% in 2020, 5.3% in 2021 and 5.4% in 2022. Volumes went from 364,174 units in 2017 to 317,162 in 2018, 402,147 in 2019, 461,102 in 2020, 806,144 in 2021 and 758,120 in 2022.