Analyst Insight by Neil King - Automotive Analyst
Registrations data on electrically-chargeable vehicles (ECVs) - including BEVs (battery electric vehicles), EREVs (extended-range electric vehicles and PHEVs (plug-in hybrids) - reveals that a total of 324,000 ECVs were registered in 2014 in the key markets of Europe (European Union and EFTA combined), China, Japan and the US. Ordinarily, the vehicle parc equates to around 10 years’ worth of sales but this rule of thumb does of course not apply to electric vehicles given that they have only been widely available for the last few years. Given this, the size of the electric vehicle fleet at the end of 2014 has been estimated based upon 2013 parc data and 2014 registrations, giving a total number of 700,000 ECVs in use at the end of 2014.
ECV Registrations and Parc, 2014-2015
Source: ACEA, CAAM, EVObsession.com, Euromonitor International