IEA: Electric car sales may increase this year

According to the International Energy Agency (EIA), the effects of the covid-19 pandemic will be uneven in the automotive market, with a drop in sales of combustion vehicles and increased demand for electrics. Thus, the projections are for a sale of 32 million vehicles in the first half, followed by a recovery in the second half of the year to 41 million units.

“The typical buyer of electric cars in many countries still tends to be richer than the average consumer and may be less affected by the economic crisis,” the EIA explains. 

However, the sale of electric cars can also maintain the upward trend, reaching 2.3 million units (+6% in the year) and about 3% of the share in the global vehicle market.

The result is explained by the stimulus in the China market, which accounted for almost half of the sales of electrics in 2019, and the fact that the alternative is still expensive, often focused on the luxury market.