Global EV sales expected to grow in 2020, despite the pandemic’s impacts on the auto industry

The IEA estimates global EV sales could reach 2.3m in 2020, with a record total of 10m being in use on the roads by the end of the year

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Global electric vehicle (EV) sales are expected to grow in 2020, despite the pandemic-hit auto industry.

This is according to a recent report by the International Energy Agency (IEA) that estimates EV sales will perform better than the rest of the industry this year.

The IEA report estimates global electric car sales could reach more than 2.3 million in 2020, which would mean as many as ten million EVs could be in use by the end of 2020.

The Covid-19 pandemic resulted in all types of passenger car sales shrinking across the globe and the first quarter of 2020 recorded nine million fewer sales as compared to the same period last year – this overall decline in sales also reflected poorly on parts of the EV industry.

China recorded only 16,000 EV sold in February this year, marking a 60% drop from February 2019, whereas, the US recorded only 10,000 sales in April 2020.

In contrast, EV sales in Europe’s largest markets such as France, Germany, Italy and the UK crossed more than 145,000 sales in the first quarter of this year.

The report calls for a prompt governmental response across the globe to ensure the EV industry continues to grow, despite the pandemic and notes continued subsidies, recharging infrastructure and direct support measures could help boost the market.

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