China had the highest annual growth rate among the global top 10 EV countries in February, China’s electric vehicle (EV) market reached 295,502 units in February 2022, with an annual growth rate of 182.8%.
In terms of EV sales volume across major countries, China remains the largest EV sales country in the world, as shown in Figure 1. America continued to overthrow Germany.
The proportion of the top three countries increased from 63.7% in the same period last year to 74.5%, but the increase was driven by China’s increasing market share. France got fourth place, followed by Britain. The share of the top five countries increased to 81.5% from 72.2% in the same period last year.
According to Researcher & Research LLC, China’s electric vehicle (EV) market reached 295,502 units in February 2022 with an annual growth rate of 182.8%. Its share of the global EV market increased to 54.3% from 36.8% in the same period last year.
In addition to maintaining its position as the world’s largest EV sales market, China had the highest year-on-year (YoY) growth rate among the global top 10 EV countries.
In terms of best-selling models, the top 20 sold a total of 166,457 units with a market share of 56.3%, a slight increase from 54.5% a year ago.
With respect to the market share of each model, both the Wuling Hongguang Mini and Tesla Model 3 experienced significant declines compared to the same period last year, falling from 19.3% and 13.1% to 7.5% and 1.6%, respectively, as per that is shown in the figure below.