Electric Vehicle Sales Review Q2 2023Foresight to drive the industryAugust 2023Strategy&This publication has been developed in collaboration between Strategy&, PwC’s global strategy consulting business, alongside PwC Autofacts’ Automotive industry and function experts. Together, we transform organizations by developing actionable strategies that deliver results. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with almost 328,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.www.pwc.com2Strategy&Executive summary 3The BEV market increased by more than half its size across all analyzed markets in one year52%BEV sales growth across all 20 analyzedmarkets in Q2 2023 from the same quarter last yearIn almost all major markets, BEV sales grew far more than the total light vehiclemarket. In the ten Western European focus markets, BEV sales increased by 49% inthe second quarter of 2023 in comparison with the equivalent period last year,whereas the total market grew by 17%. In the United States, the correspondingpercentages were 67% and 19%, and in China 49% and 29%.In fact, the only major market analyzed in which BEV and overall powertrain salesgrowth were in any way comparable was in Italy, where the figures were almostidentical (around 19.5%). Of course, BEV growth itself is responsible for much of theoverall powertrain sales increase in many markets. When one...
