Year on year, EV/PHEV sales rose 49% in March. The rate of growth is down compared with the second half of last year, but that in turn was artificially increased by slow growth in the second half of 2016. The average growth rate since January 2014 has been 56% per annum. At that rate sales will double roughly every 18 months.
As a percentage of total world car sales EVs/PHEVs now make up 2.1% of total world car sales. At the 5 year growth rate, this percentage will rise to 4.2% by September 2019 and 8.4% by March 2021. In 9 years, 100% of all car/light truck sales world wide will be EVs or PHEVs. Of course the growth rate will slow as we get closer to 100% market penetration. But it's easy to see how EVs will be the majority of car/light truck sales by the mid 2020s.
As usual, source of basic data is InsideEVs. My seasonal adjustment.
Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.