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Automotive
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Sales Performance & Marketing
Vehicle In Use
Automotive
When compared to Q3 2021 year to date, new vehicle registrations have fallen by 12.5% overall and the combined volume of xEV light vehicles (EV/PHEV/HEV/ FCEV) increased by 14.7% as of Q3 2022. xEVs now account for 15.2% of all new registrations; while traditional ICE vehicles account for 84.8%.
Further comparisons of Q3 2022 against the previous year show BEVs and PHEVs saw volume gains (25,368 and 287), while HEV and FCEV each saw volume declines.
Inventory constraints continue to play a role on new vehicle registrations. Despite the constraints, BEV adoption rates continue to increase and have doubled from Q3 2021 (3.7%).
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This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.