China leads global BEV sales in Q3: study

BERLIN -- Sales of battery electric vehicles (BEV) increased by 123 percent year-on-year in 14 major markets in the third quarter (Q3) of 2021, according to a study published by consulting services companies PwC and Strategy& on Monday.

China "led the way" with 782,000 BEV units sold in Q3, an increase of 190 percent. The BEV market share in China continues its "steady increase," said the study.

The growth in sales has slowed down in Europe compared to the previous quarters, it said. The five biggest European markets -- Germany, the UK, Italy, France and Spain -- saw new BEV registrations increase 53 percent year-on-year in Q3.

The market share of all electric vehicles in Europe, including plug-in hybrids (PHEVs) and hybrids, was "rapidly approaching" parity with combustion vehicles. According to the study, the market share of electric vehicles in Europe's five biggest markets increased from 8 percent in 2019 to 38 percent currently.

In the US, the uptake of electric vehicles was "much less dynamic," the study said. Combustion engines were still the choice with 91.6 percent of buyers, while full hybrids lead the category of electric vehicles with a market share of 5.1 percent.

In Germany, hybrids still dominated the market with 16.6 percent, the study said. In order to reduce CO2 emissions, the purchase of purely electric vehicles in Germany is supported with a government premium of up to 9,000 euros (around $10,400).