Non-plug-in internal combustion-powered or ICE vehicle sales have been dropping steadily since 2017, a Bloomberg New Energy Finance report showed. On the other hand, plug-in hybrid and electric vehicle sales have been climbing exponentially too.
Sales of plug-in and electric vehicles reached 6.6 million in 2021, about a 108% increase from 2020. Bloomberg’s report predicts the auto industry will sell over 20 million plug-ins and more EVs by 2025. Bloomberg expects China and Europe to lead the market and the U.S. to make up only 15% of global EV sales. A survey conducted for AAA found that 25% of Americans want EVs.