Over 17M EVs sold in 2024 – Record Year
a year ago
- #Market Trends
- #Electric Vehicles
- #Global Sales
- Global EV sales reached 17.1 million units in 2024, a 25% increase from 2023.
- December 2024 saw over 1.9 million EV sales, a 5% growth from the previous month.
- China led EV growth with 40% increase in sales, reaching 11 million units in 2024.
- Europe's EV market declined by 3% in 2024, impacted by subsidy removals in Germany.
- The US and Canada saw 9% growth in EV sales, aided by tax credits.
- BYD dominated China's EV market, accounting for over one-third of sales.
- The UK EV market grew by 20%, supported by the ZEV mandate.
- Norway achieved over 90% EV penetration in passenger car sales.
- PHEVs in China grew by 81%, driven by demand for range-extender EVs.
- The US faces uncertainty in 2025 with potential reversals of EPA standards and EV tax credits.