Electric vehicle sales saw a major surge in 2021. During the first half alone, sales were up 160% from a year prior.
Electric vehicles’ popularity is growing, and it’s only expected to go up from here. This popularity is driven by cost-efficiency as well as environmental concerns and the adequate addressing of electric vehicle concerns and fears.
Are you interested in understanding more about the electric vehicle market, specifically what it will look like in 2022? Read on for an EV market guide that will tell you all you need to know for this year.
Electric Vehicle Market Will Grow
Electric vehicle shipments are expected to rise by nearly 35% this year. Moreover, marketing experts predict that 6.4 million EV units will sell in 2022.
This is a 1.6 million increase from 2021. 95% of those sales are expected to be personal car sales.
Part of the appeal of electric vehicles is the reduced amount of carbon dioxide emissions compared to other types of vehicles. The automotive industry has come under heavy fire in recent years for contributing to the major climate change crisis due to heavy emissions.
Electric vehicles, while not emission-free, contribute significantly less to global warming. This makes them a great choice for the growing number of consumers who are seeking to preserve the environment.
At the 2021 United Nations Climate Change Conference, or Cop26, it was agreed that manufacturers would sell only zero-emission vehicles by 2040. This, along with eco-friendly consumer demand, is only going to push the EV market’s growth in the years to come.
Car Manufacturers Are Responding to EV Demand
Tesla is a company known for making some of the best electric vehicles available. The demand for their vehicles is high, with Wall Street predicting a 55% sales increase this year. Click to learn more.
Tesla has particularly stood out for developing the Model S. This is the very first electric vehicle to be zero-emission, which is a major contribution to the automotive market. Tesla is now setting the bar for what is expected for car manufacturing in the future.
But Tesla isn’t the only company hopping on the electric vehicle train. Ford’s Mustang Mach-E and Volvo’s XC40 Recharge Twin are also among the best electric vehicles one can buy in 2022. Other makers are working on their own electric vehicles, and we can expect to see more of them arise within the decade.
Electric Vehicle Ownership Is the Future
The electric vehicle market is looking to be on the grow in 2022, and for many good reasons. A demand for eco-friendliness from consumers will contribute to the rise of electric vehicle popularity and sales this year and in the years to come.
Electric vehicle ownership and environmental activism will soon go hand in hand. And businesses that follow suit will truly make a profit by standing out for producing planet-saving emission-free vehicles.
For more guides like this one, visit our business section.