Snapshot: Zero-emission Vehicle Market Trends

All data on this website reflect registrations of new vehicles via S&P Global Mobility unless otherwise noted.

The California Zero-emission Vehicle Market

California’s robust regulations are delivering on the vision of a zero-emission future. Zero-emission vehicles continue to break records in California, with sustained year-over-year growth in market share. Over the past eight years, zero-emission vehicle registrations – including battery-electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles – have steadily climbed.

This visual displays California's annual light-duty new vehicle registrations from 2015 through 2023. It compares new zero-emission vehicle registrations against total new registrations.

This visual displays California's annual zero-emission vehicle market share from 2015 to 2023. Market share steadily increases, starting at 3 percent in 2015 and increasing to 25 percent in 2023.

Figure 1. Source: S&P Global Mobility light vehicle registrations in California 2015-2023. Zero-emission vehicle registrations are defined by the California Air Resources Board (CARB) as battery-electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles combined.

Based on CARB assessments, a utomakers are over-complying with California’s existing Zero-emission Vehicle Regulation and are poised to meet the Advanced Clean Cars II requirement that 35% of new light-duty vehicle sales be zero-emission in 2026.

Focusing on 2023

In 2023, Californians registered nearly 450,000 new zero-emission vehicles, a 30% increase since 2022. Zero-emission vehicles were 25% of new vehicle registrations, up from 20% in 2022. California exceeded its goal to sell 1.5 million vehicles1 two years ahead of schedule. Even in the presence of market-wide fluctuations from quarter to quarter, the zero-emission vehicle market share remained quite steady throughout the year.

This visual displays California's 2023 light-duty new vehicle registrations by quarter. It compares new zero-emission vehicle registrations against total new vehicle registrations.

This visual displays California's zero-emission vehicle market share by quarter for 2023. The market share for quarters 1, 2, 3, and 4 is approximately 24 percent, 26 percent, 28 percent, and 25 percent, respectively.

Figure 2. Source: S&P Global Mobility light vehicle registrations in California, January-December 2023. Zero-emission vehicle registrations are defined by the California Air Resources Board (CARB) as battery-electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles combined.

The National Zero-emission Vehicle Market

The zero-emission vehicle market is also growing at the national level, climbing from 2% of new vehicle registrations in 2020 to over 9% in 2023.

This visual displays national annual light-duty new vehicle registrations from 2015 through 2023. It compares new zero-emission vehicle registrations against total new registrations.

This visual displays national annual zero-emission vehicle market share from 2015 to 2023. Market share steadily increases, starting at one percent in 2015 and increasing to 9 percent in 2023.

Figure 4. Source: S&P Global Mobility light vehicle registrations in the U.S. 2015-2023. Zero-emission vehicle registrations are defined by the California Air Resources Board (CARB) as battery-electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles combined.

Focusing on 2023

The national zero-emission vehicle market also set records in 2023, surpassing 1.4 million annual new registrations and achieving over 10% of new vehicle registrations in the third and fourth quarters of 2023 – a 52% increase over 2022.

This visual displays national 2023 light-duty new vehicle registrations by quarter. It compares new zero-emission vehicle registrations against total new vehicle registrations.

Figure 4. Source: S&P Global Mobility light vehicle registrations in the U.S., January-December 2023. Zero-emission vehicle registrations are defined by the California Air Resources Board (CARB) as battery-electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles combined.

The S&P Global Mobility reports, data and information (“S&P Global Mobility Materials”) referenced herein are copyrighted property of S&P Global Mobility and its subsidiaries (“S&P Global Mobility”) and represent data, research, opinions or viewpoints published by S&P Global Mobility and are not representations of fact. The S&P Global Mobility Materials speak as of the date of the original publication date thereof and not as of the date of this document. The information and opinions expressed in the S&P Global Mobility Materials are subject to change without notice and S&P Global Mobility Materials has no duty or responsibility to update the S&P Global Mobility Materials. Moreover, while the S&P Global Mobility Materials reproduced herein are from sources considered reliable, the accuracy and completeness thereof are not warranted, nor are the opinions and analyses which are based upon it. The information and opinions expressed in the S&P Global Mobility Materials should not be used for financial or investment purposes. S&P Global Mobility, IHS Markit, and R.L. Polk & Co. are trademarks of S&P Global Mobility.

1California Energy Commission (2023). New ZEV Sales in California. Data last updated 12/31/2023. Retrieved 4/4/2024. from https://www.energy.ca.gov/zevstats.