Electric vehicle (EV) sales in Spain and globally

 

EV Sales in Spain: 

In November, Spain sold 7,243 electric vehicles, making up 7.51% of the market. However, the year's total is expected to barely reach 6%. Despite the largest-ever range of electric models and significant growth in other European countries (some exceeding 20% market share), Spain's EV sales are not taking off as expected.

Reasons for Sluggish EV Sales in Spain: 

Various factors contribute to this, including a poorly implemented Moves plan offering insufficient incentives, slow development of charging infrastructure, difficulties for potential users to install home charging points, and the primary issue – the high price of EVs.

European Electric Market: 

Northern European countries lead in EV adoption. Norway's new car sales are over 90% electric, while Sweden, Iceland, Finland, Denmark, and the Netherlands have crossed 30%. Germany, France, and the UK are above 15%, with France reaching over 20% in November. Spain, however, lags behind, only slightly ahead of Italy and below countries like Romania and Portugal.

China's EV Market: 

China is the global leader in EV sales. In 2022, electrified vehicles (including battery electric, hybrids, and plug-in hybrids) accounted for over 40% of the Chinese market, with pure electric vehicles representing 25%. Even without state purchase incentives, the market continues to grow, with Chinese brands dominating globally, particularly in battery production.

EV Market in South Korea and Japan: 

South Korea has seen a significant push towards EVs, with national brands like Hyundai and Kia leading the charge. However, sales have recently stagnated due to reduced government subsidies and increased competition. Japan's EV market is slower, with EVs representing only 1.7% of the market in 2022, despite government incentives.

United States EV Market: 

The U.S. is experiencing significant growth in EV sales, with projections to surpass one million sold in 2023, accounting for about 9% of total sales. This growth is attributed to an increased range of available models, including popular pickups, and incentives under the Inflation Reduction Act.

Global EV Trends: 

In Southeast Asia, EV sales are around 2%, with Singapore at 12%. India's EV market is also small but growing, particularly in electric motorcycles. Latin America and Africa show very low EV adoption rates, with the lack of charging infrastructure being a major hurdle.

European and Global EV Strategies: 

Europe's strong push for electrification is primarily through regulations and mandates, but without sufficient support for a complete electric vehicle value chain, particularly in battery technology. This makes Europe vulnerable to competition from Chinese manufacturers. Spain, in particular, is far behind its ambitious goals for EV adoption and charging infrastructure.