# Electric Car Market Growth and Future Predictions - Link: https://greenlivingguy.com/2022/08/electric-car-market-growth-and-future-predictions/ - Published: 2022-08-11T18:28:51-04:00 - Author: greenlivingguy ## Electric car market shows they are becoming less expensive The electric car market costs for a car are seriously transitioning. That’s to all electric cars in the market. So we are in the best place right now. [Companies](https://greenlivingguy.com/2017/12/green-car-sales-to-hit-new-record-in-2018-according-to-new-analysis-from-edmunds/) such as Chevrolet with their Silverado starting at $40,000 plus [fleets](https://greenlivingguy.com/2019/11/electric-now-has-a-mercedes-benz/) are buying them. ## Electric Vehicle Technology Perhaps, the greatest move toward a better future is the introduction of electric car [technology](https://www.couponupto.com/blog/best-electric-cars-worth-buying) into the market. It enables the cars to run on [renewable energy](https://greenlivingguy.com/2025/07/ai-battery-ev-enhancing-electric-vehicle-efficiency/)– electricity. Plus, it emits little to no harmful emissions into the atmosphere. ![Market car electric. Kia](https://i0.wp.com/greenlivingguy.com/wp-content/uploads/ 2022/08/A1934830-0C76-4346-920B-781EE3636260.jpeg?resize=315%2C420&quality=52&ssl =1) Up till now, the most work done in [electric](https://greenlivingguy.com/2024/11/hyundai-ioniq-9-game-changing-the-electric-suv-market/) car market production and marketing is by Tesla Motors. This is the [Kia EV6 which is a gorgeous car](https://greenlivingguy.com/2023/01/kia-ev6-vehicle-drives-wins-2023-north-american-utility-car/)! All of their [product range revolves around electricity](https://greenlivingguy.com/2007/03/gm-targets-2010-production-for-electric-car/). However, the cost for transitioning to [electric vehicles is at its best place](https://greenlivingguy.com/2007/12/scooters-electric-bicycles-have-place-on-ua-campus/) right now. Companies such as Chevrolet with their Silverado starting at $40,000 plus fleets are [buying](https://greenlivingguy.com/2021/06/5-ways-to-stay-eco-friendly-when-home-buying/) them. Even though it’s cheaper to [convert](https://greenlivingguy.com/2013/02/turn-e-conversions-starting-building-a-battery-pack/) to an electric car. EVs are the [car](https://greenlivingguy.com/2021/06/reasons-big-name-car-brands-are-going-green/) companies mantra partially. For example, Ford and Mercedes Benz have pledged to produce all [electric cars](https://greenlivingguy.com/2024/11/hyundai-ioniq-9-game-changing-the-electric-suv-market/) and eliminate the production of gas cars by 2040 in the market. That said, the use of batteries in [electric cars still raises questions about future](https://greenlivingguy.com/2024/04/ev-battery-and-the-green-future-debunking-the-myths/) sustainability. ### In addition: Available data shows Tesla has been growing its presence in three of its key markets. That’s North America, Europe, and [China](https://greenlivingguy.com/2019/06/mother-earth-news-story-i-wrote-on-the-electric-smart-car-coming-to-the-united-states/). According to a [StockApps](https://u7061146.ct.sendgrid.net/ls/click?upn=4tNED-2FM8iDZJQyQ53jATUasIXhrYxr02SXXHjd4H3O0-3DTJva_INCA-2FPyIhC63I1FHQ-2FtwXKsMamN5mBOz6hLuWKtOi7lGFa34m3XTTCutzwz1Sll-2BARJKn3U1QJ2lMzKpz3H0k6jMsi4iRL6MASJSuiz3QtzVia8Kftua61jiDRfwVbgPj-2FXsVz4zV4P2bNGiu-2FQxTWYqYqKQy-2BBEKmz0JMv9Y-2FoBrD8ckKsJXfvkz30KrQ76-2FyoVu3MyxgAcz5Q5VcWLVGU9XW6-2BxHi4tVsEMgB91HorFLW2LnTfF6pOSRP-2BqF08j-2FoPQydRyUYINqxJKYEuNcGRmyf0ch8eG7N1pWFv-2FiYPihJ4eq-2BUOhKLF-2FDwAh56bUN8uPKCwJJZ-2BMKRwmkJgOAxUEDoN7auaZWbPk2jhCI-3D) analysis, it grew its U.S market share from 1.2 percent in Q1 2020 to 2.7 percent in Q1 2022. That’s a 125 percent jump in its American foothold in the last couple of years. Edith Reads, StockApps’ lead financial analyst, says, “Tesla’s performance in the EV market has been impressive. Its market [share is on a steady rise](https://greenlivingguy.com/2022/08/rivian-to-site-new-manufacturing-plant-in-georgia/), with more sales being generated from the [key automotive](https://greenlivingguy.com/2015/02/nissan-electric-car-technology-glow-dark-paint/) markets. Also, the company is acquiring new markets, boosting the total market share. This growth contrasts with the global supply chain trends, which are currently highly volatile.” ![](https://i0.wp.com/greenlivingguy.com//srv/htdocs/wp-content/uploads/2022/06/ austin-ramsey-9X3DmoEM64k-unsplash.jpg?resize=420%2C280&ssl=1) ## **The market share analysis** The company [recorded a boom in the electric car](https://greenlivingguy.com/2023/06/tesla-electric-car-vehicle-tesla-outsells-norway-4x/) share value for 2022. For instance, in the first quarter of 2022, the company sold more than 310,000 electric cars [across](https://greenlivingguy.com/2005/11/the-case-for-electric-vehicles-now/) [different](https://greenlivingguy.com/2010/06/thnk-city-lithium-battery-and-range-improvements/) [automotive](https://greenlivingguy.com/2018/04/bmw-group-e-sales-2018-grows-71-percent/) markets. This value represents a 68 percent increase from the previous year. ![author avatar](https://secure.gravatar.com/avatar/df91669667126e1290c21ee0342c386e2da19d588d4d9ca6560bd82ed59a9641? s=300&d=monsterid&r=g) greenlivingguy The Green Living Guy, Seth Leitman is an independent power producer, a green living expert, and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and an Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow. [See Full Bio](https://greenlivingguy.com/author/greenlivingguy/) [ ](https://greenlivingguy.com/author/greenlivingguy/)