Title: McKinsey Electric Vehicle Index: EV Market Trends & Sales | McKinsey
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About the authors
Growth in the electric-vehicle market has slowed
What is the Electric Vehicle Index?
Expert views on the electric-vehicle sector’s future development
EV market trends vary by region
China
The United States
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Europe
Purchase subsidies juice EV sales
Electric-vehicle makers are debuting new models and boosting sales of existing ones
The supply chain is localizing
Three surprising resource implications from the rise of electric vehicles
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About the authors
This article was written collaboratively by members of McKinsey’s Automotive and Assembly Practice: Thomas Gersdorf, Patrick Hertzke, Patrick Schaufuss, and Stephanie Schenk. Growth in the electric-vehicle market has slowed
EV sales rose 65 percent from 2017 to 2018 (Exhibit 1). But in 2019, the number of units sold increased only to 2.3 million, from 2.1 million, for year-on-year growth of just 9 percent. Equally sobering, EV sales declined by 25 percent during the first quarter of 2020. The days of rapid expansion have ceased—or at least paused temporarily. Overall, Europe has seen the strongest growth in EVs. Exhibit 1
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