Forecast Predicts China Will Account For 57% Of Electric Car Sales By 2035
The Chinese market is expected to consume 6.42 million electric vehicles yearly by 2035
A recently published report by Japan’s Fuji Keizai Group, reveals that China is predicted to account for 57% of the world’s electric vehicle sales by 2035. The market research company prophecises that global EV sales are set to reach around 11.25 million by 2035 – almost 15 times more than 2017 yearly sales that accounted for 760,000 vehicles. The Chinese market is expected to account for approximately 6.42 millions of the whole vehicle total – or the aforementioned 57% of the global sales volume.
Sales of 2.17 million electric cars, or 19.3% of the global amount, are expected to happen in Europe. North America is expected to follow with 1.36 million vehicles – or 12% of the global sales volume. Japan comes in fourth place, with a prediction of 450,000 units or 4% of the global sales volume happening in the land of the rising sun.
Plug-in hybrid wise, Fuji Keizai forecasts that global sales will reach 12.43 million cars by 2035 – a huge improvement over the 400,000 sold last year. China will once again be the leading market, accounting for 37.4% of the global volume with 4.6 million cars sold. Europe once again follows as a close second with 30.7% share of the global sales volume for plug-in hybrids, with 3.81 million units sold. North America – with 2.47 million – and Japan at about 900,000 cars sold (7.2% of the global sales volume) follow in the third and fourth place, respectively.
The market research company predicts that hybrid vehicles are slated to grow to a level that is double that of 2017 – Fuji Keizai expects the sales of hybrids to reach 4.2 million vehicles sold by 2035 globally. But, unlike the fully electric and plug-in hybrid sales charts, the Japanese home market will dominate both the number sold and the global volume percentage for hybrid sales. They predict that, in Japan, sales of 1.31 million cars (31.1% of the global volume) will be made by 2035. Japan is followed by North America with 1.03 million hybrids (24.5%) and Europe at just 580,000 hybrid vehicles (13.8% of the global volume) sold.
As far as hybrids go, China is predicted to claim the fourth spot in terms of sales, with the world’s most populous country accounting for 510,000 vehicles or 12% o the global hybrid sales volume.
Source: Green Car Report