Electric vehicle sales increased by 50 percent in the US and Canada, 27 percent in Europe, and 15 percent in China.

Global sales of electric and plug-in hybrid vehicles increased by 31 percent in 2023. Although it seems to be far behind the 60 percent increase in 2022, industry experts state that such a trend is normal. Charles Lester, Data Manager at market research firm Rho Motion, said, “The pace of growth is slowing, but that’s to be expected in growing markets like this. You can’t double sales every year.” Speaking to Reuters, Lester noted that global electric vehicle sales last year were realized at predicted levels and that they expect global sales to increase by 25 to 30 percent in 2024. Rho Motion reported that sales hit a record high of 1.5 million units in December. Fully electric vehicles (BEVS) accounted for 9.5 million of the 13.6 million battery-powered vehicles sold worldwide in 2023. Charged hybrid vehicles accounted for the rest. Rho Motion emphasized that only 8 percent of electric vehicle sales in Europe are in the smaller car segment, but the market could start to change with the arrival of smaller models such as the Citroen EC3, which will go on sale this year.