Global EV sales surpass 400K/Q

For the first time ever, global sales of electric vehicles (EVs) break through the barrier of 400,000 units per quarter. EV sales for Q2 2018 were around 411,000, up 77% over the same quarter last year.

Languishing under 100K until the second quarter of 2015, EV sales have steadily increased ever since – albeit at an uneven pace. 

225,000 units
For example: Q4 2017 saw global sales just under 400,000, only to dip just below 300,000 again in Q1 2018.    

Much of the fluctuation is caused by the Chinese market, which on its own represented 225,000 units in Q2 or almost 55% of global EV sales in Q2. In Q4 2017, EV sales in China were slightly higher than in Q2 2018, but they dropped to well under 150,000 in Q1 2018. The current slowdown of the Chinese car market could have a major impact on global EV sales. 

Quota system
China's dominance is the result of Beijing's New Energy Vehicle policy, aggressively pushing the introduction of Evs and other alternative powertrains via a quota system. 

In the past quarter, EVs accounted for 3.9% of all car sales in China. The manufacturers benefiting the most from the increase in EV sales in China are BYD and JAC Motors, both Chinese-owned; and Nissan, Toyota, Renault and Tesla. 

Global production
After China, the second-largest EV market in the world is Europe, accounting for 22% (90,000 units) of global EV sales last quarter, followed by North America, at 19% (78,000 units).

Analysts calculate that OEMs worldwide will produce 1.67 million cars with fully electric powertrains this year. That's just under 90% more than last year's global production of 879,000 EVs. Next year, production is set to increase at a slower pace, to 2.2 million.