Global Electric Vehicle Sales Hit Record 17.1 Million in 2024
Global electric vehicle (EV) sales reached a historic high of 17.1 million units in 2024, marking a 25% increase from the previous year, Anadolu Agency reported citing Rho Motion. This surge was fueled by four consecutive months of exceptional performance.
China led the market with 11 million EVs sold, achieving a 40% year-on-year growth. Plug-in hybrid electric vehicle (PHEV) sales in China rose by 81%, bolstered by demand for range-extender EVs and a mid-year car trade-in scheme. BYD emerged as the dominant manufacturer, capturing over a third of China’s market share.
In Europe, sales slightly declined by 3% to 3 million units, with the UK surpassing Germany as the top market. North America saw a 9% increase, with 1.8 million units sold in the US and Canada. However, uncertainty looms for 2025 due to potential reductions in vehicle tax credits proposed by President-elect Donald Trump.
