Skip to navigationSkip to content
BETTER LUCK NEXT YEAR

Electric cars got crushed in 2020, but next year could be their best

AP Photo/Jeff Chiu, File
On a roll.
From our Obsession
The climate economy
Every industry can be part of the solution — or part of the ongoing problem.
  • Michael J. Coren
By Michael J. Coren

Climate reporter

Published Last updated on

Electric vehicles have long defied the slumping global auto market. As vehicle sales cooled over in recent years, EVs have resisted the pull of gravity, selling roughly a million new units every six months since 2018. This year, the Chinese government was hoping to see the sector’s sales double. 

Not any more. In Asia and the US, a long-term trend is reversing: Electric vehicles are now underperforming their conventional counterparts.

For the first time, electric and “new energy” vehicle sales dropped in China this April even as the broader market grew. Energy research firm Wood Mackenzie is predicting a 40% drop in global EV sales in 2020 from 2.2 million units last year. And while that may be too bleak—global sales are only down 22% so far this year—sales are still likely to be flat by the end of 2020.

Enrich your perspective. Embolden your work. Become a Quartz member.

Your membership supports a team of global Quartz journalists reporting on the forces shaping our world. We make sense of accelerating change and help you get ahead of it with business news for the next era, not just the next hour. Subscribe to Quartz today.

Start free trial
Log in

Membership includes:

こちらは英語版への登録ページです。
Quartz Japanへの登録をご希望の方はこちらから。