Three Very Different Car Markets, Three Different EV Outcomes.
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The three biggest car markets (including light vehicles) in the world are China (19.7 million sales in 2020), the USA (14.5 million sales in 2020), and Europe (12 million car sales in 2020). It may come as a shock to some that the Chinese market is so much larger than the other two, but that is what happens when 1.4 billion people reach the position where buying a car becomes possible. The population of Europe (including the UK) is just over 500 million, and the population of the US is about 330 million. Based on the population difference, the lower per capita car ownership and income, and the faster economic growth of China, it would be expected that the Chinese car market would increase the sales gap with the other two markets during this decade. The US and European car markets are also heavily
Three Very Different Car Markets, Three Different EV Outcomes.
Three Very Different Car Markets, Three…
Three Very Different Car Markets, Three Different EV Outcomes.
The three biggest car markets (including light vehicles) in the world are China (19.7 million sales in 2020), the USA (14.5 million sales in 2020), and Europe (12 million car sales in 2020). It may come as a shock to some that the Chinese market is so much larger than the other two, but that is what happens when 1.4 billion people reach the position where buying a car becomes possible. The population of Europe (including the UK) is just over 500 million, and the population of the US is about 330 million. Based on the population difference, the lower per capita car ownership and income, and the faster economic growth of China, it would be expected that the Chinese car market would increase the sales gap with the other two markets during this decade. The US and European car markets are also heavily