Battery Electric Vehicle (BEV) Retail Price Trend
February 22, 2023
The average retail price, in USD, of Battery Electric Vehicles (BEVs) by production year for 2020 through 2023. Additional Charts showing the Standard Deviation of the Retail Price of BEVs, Number of BEV Models Worldwide, Battery Capacities, and Retail Price vs. Battery Capacity.
The global car industry is still in the process of transitioning toward EVs which is expected to take at least another 5-7 years. However, the price of EVs relative to those of gasoline vehicles are expected to decrease after 2024-2025, while battery capacity will continue to grow. Overall, customers now have a greater variety of BEV models to choose from ranging from more affordable to luxury.
Forecast of Electric Vehicle Stocks and Annual Sales
Total Number of Electric Vehicles Worldwide
January 22, 2022
Forecast to 2030 of the total number of electric vehicles (cars, light commercial vehicles, buses and trucks) worldwide. Additional chart illustrating Incorrys Electric Vehicle Forecast model.
Incorrys analyzed both battery electric vehicles (BEV) and plugin hybrid electric vehicles (PHEV). Incorrys estimates that total registered electric vehicles worldwide will grow almost 22 times from 2020 levels by 2030.
Market Share of New Electric Vehicles
January 21, 2022
Market share of new electric vehicles (EV) by region for 2020, led by Norway, Iceland, Sweden, and Finland.
Generally, market share of new EV’s is a function of government incentives to vehicle buyers, as well as other programs.
Electric Car Stock By Country
January 21, 2022
Number of light duty battery electric vehicles (BEV) and hybrid plug-in electric vehicles (PHEV) from 2018-2020.
This chart shows the number of light duty battery electric vehicles (BEV) and hybrid plug-in electric vehicles (PHEV) from 2018-2020. The number of EV’s in China grew 27% in 2020, compared to 2019, and they now account for almost half of all EV’s.
Electric Light Commercial Vehicles (ELCV) Stock By Country
January 21, 2022
This chart shows the number of battery and hybrid plugin electric light commercial vehicles (ELCV) in 2020. The total number of all ELCV’s worldwide in 2020 was 468,000.
Annual Sales of Electric Vehicle in 2030
Chart by Visualizer
January 21, 2022
Annual sales of electric vehicles (EV) in 2030 by EV type (car, van, trucks, and buses) and by region including China, Europe, US, and India. Additional chart of corresponding market shares.
Three quarters of global sales consist of cars while vans, trucks, and buses make up the remainder. China accounts for half of the total global sales of EV’s.
North American Electric Vehicles Outlook by Region
June 18, 2021
Total number of registered electric vehicles (EV) in North America by region to 2030.
In total, the number of electric vehicles registered in North America grows twelvefold between 2020 and 2030. The US West is expected to show the most growth and accounts for over half of the total North American market.
Total Number of Electric Vehicles in US
January 22, 2022
Forecast to 2030 of the total number of battery electric vehicles (BEV) and plugin hybrid electric vehicles (PHVE) in the US (cars, LCV’s and trucks and buses). Additional chart illustrating Incorrys Electric Vehicle Forecast model.
The Biden Administrations “Build Back Better” plan includes a very enticing incentive up to USD12,500 for Americans to buy an electric vehicles (EV) and batteries made on US soil.
Battery Technology
Electric Vehicle Battery Cost Forecast
January 21, 2022
The cost of electric vehicle (EV) battery packs through 2025 and the estimated cost parity with internal combustion engines (ICE). Additional chart of the impact of Tesla’s 2020 announced battery cost reduction activities.
The battery pack is the most expensive component of electrical vehicles and critical to achieve a cost parity with internal combustion engine vehicles. Incorrys expects that the costs parity threshold with ICE will occur in 2025.
Electric Vehicle Price vs Battery Capacity
February 17, 2023
Incorrys analyzed data for almost 300 models of Battery Electric Vehicles (BEH) and compared the retail price against the kWh of battery capacity for the 2020 through 2023 production models.
The retail car price per kWh of battery capacity is expected to remain flat at around USD $1000/kWh for the next few years. One of the main reasons for flat retail prices and prices per kWh of battery capacity is the significant demand of electric vehicles (EVs) and BEVs, which has led to long waiting waiting times for delivery.
Electric Vehicle Price vs Range
March 12, 2023
Range is one of the critical parameters of electric vehicle in the race to achieve parity with gasoline engines. Compares the average annual range (km) per charge for 2020-2023. Additional chart includes a scatter plot of all 295 electric vehicles analyzed for the model years 2020-2023 comparing retail price vs range per charge.
As the price of the vehicle increases so does the distance it can travel on a single charge. The average range per charge has increased from 240 km/charge in 2020 production models to over 400 km in 2023 models.
Electric Vehicle Price vs. Efficiency
March 13, 2023
Electric vehicle efficiency is measured as power consumption(Wh) per kilometer traveled and the chart compares the average annual efficiency for 2020-2023 production models. Additional chart includes a scatter plot of all 295 electric vehicles analyzed for 2020-2023 compares the retail price of electric vehicles (EV) against the efficiency (measured in Watt hours /kilometer (Wh/km)) for 2020-23 models.
Average efficiency continues to improve due to the introduction of larger and heavier models. Average efficiency dropped 16% to 189 Wh/km for 2023 models from 226 Wh/km for 2020 models.
Charging Infrastructure
Charging Infrastructure for Electric Vehicles
January 21, 2022
Publicly accessible slow and fast electric vehicle supply equipment (EVSE) stock by country, in 2019, only represents a fraction of total EVSE worldwide. Additional chart of the private and public market share of EVSE.
China had the largest number of publicly available EVSE followed by the US and the Netherlands.
Charging Time for Electric Vehicles
Chart by Visualizer
March 14, 2023
Changing time for electric vehicles is measured by range added per hour of charging. Compares the annual average distance per hour of charging for production years of 2020-2023. Additional charts include a table showing the specifics of various charger types, the average retail price per charge time, and a scatter plot of all 295 electric vehicles analyzed comparing retail price vs charging time.
The average distance per hour of charging has increased from about 400 km in 2020 models to over 600 km for 2023 models – an increase of 55%.