How Did Electric Vehicles Perform In 2023?

28 December 2023

How Did Electric Vehicles Perform In 2023?

The common issue we find at Pink Salary Exchange with people signing-up for our salary sacrifice car scheme is perhaps the most obvious one; the transition to driving electric vehicles (EVs). This is understandable given the significant lifestyle change it requires in terms of charging and having to judge how much range you are going to need for a journey. But on the flipside, the obvious benefits of driving EVs – zero emissions, lower fuel costs, lower service costs, rapidly developing technology – are usually sufficient to convince people, and once they have signed up there is no looking back.

Although the UK Government’s commitment to stop production of new petrol and diesel vehicles has now been delayed until 2035, this hasn’t stopped the increasing and seemingly unstoppable interest in transitioning to EVs. The monthly sales of EVs overtook diesel vehicles in the UK for the first time ever in November 2022, and early sales in 2023 were definitely continuing that trend, despite a sluggish economy, a cost of living crisis and global supply issues caused by the electric battery shortages of 2022.

Global EV sales on the increase in 2023

According to the International Energy Agency (IEA), EV sales in the USA reached 320,000 in the first quarter of 2023, which was up 60% on the same period of 2022. In Europe EV sales were up by 10% and the market share for EVs was expected to be 35% by the end of 2023. In China, the other major global motoring market, EV sales were up 20% on the first quarter of 2022, and market share was expected to be 25%. The IEA claimed the USA market share for EVs was predicted to be 12% by the end of 2023, and while we haven’t yet got the final 2023 figures for Europe and China, CNN reported this month that the EV market share in the US was the expected 12%.

Indeed, EV sales in the USA have topped one million in 2023 for the very first time in 2023, and worldwide, EVs represented 15% of all new car sales, which considering there are many smaller markets where EVs have yet to really take off, or there isn’t sufficient charging infrastructure, are impressive figures that the EV industry are very pleased with.

Nearly one million EVs on UK roads

Concentrating on the UK, there are now 950,000 EVs on UK roads, according to ZapMap, the creators of the visible representation of the UK’s charging network. This is an increase on around 650,000 EVs at the end of the 2022, and essentially follows the trend of a 40% increase on EV sales at the end of 2021. It seems clear that the sales trends are only going one way, and given the economic obstacles that have been overcome, it seems there is a significant commitment to changing over to electric driving, not only in the UK but in every major motoring market.

This is why 2024 is the right time to make the change yourself. Signing-up for a salary sacrifice car scheme through Pink Salary Exchange gives you financial freedom and a choice of some of the most dynamic and exciting motoring technology available. Every major motoring brand now has a range of electric vehicles for every motoring sector, from small city cars and SUVs, to executive saloons, vans and even high performance sports cars. The EV industry is moving forwards fast and it is carbon-efficient and cost-efficient for you to do likewise.

Contact our team at Pink Salary Exchange today and we can talk to you about our industry-leading salary sacrifice car scheme, and how it can benefit you.

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