Global PEV sales up 42% in 2020
Global EV sales increased by a staggering 42% in 2020 to 3.1m units, an even more impressive result considering that global light vehicle sales were down 14% for the year. There was an unexpected acceleration in European sales in December, rising to a second consecutive monthly record at over 281K units. European sales thus finished the year at 1.365M units, handily eclipsing China for the first time, which managed 1.246M units. The explosive growth seen in Europe (147% y/y) is unlikely to be repeated in 2020 in our view, but it’s quite possible if not likely that European volumes could...