Electric Car Sales Increased by 25 per cent Globally in 2024 – report
The appetite for electric cars may have slowed in some areas, but demand remains strong globally.
Despite slowing demand in some markets, sales of electric vehicles grew by 25 per cent in 2024.
According to news outlet Reuters, more than 17 million battery-powered cars were sold across the world – thanks largely to continued growth in China.
Of the 22.9 million cars sold in China in 2024, almost half were electric, plug-in hybrid, or hydrogen, CarNewsChina reports – representing growth of 41.6 per cent compared with the year prior.
In Europe, the UK overtook Germany as the largest electric-car market, thanks to emissions targets and incentives.
According to Cox Automotive, a total of 1.3 million electric vehicles were sold in the US in 2024 – representing an increase of 7.3 per cent over 2023.
Meanwhile, in Australia, data released by the Federal Chamber of Automotive Industries (FCAI) and the Electric Vehicle Council showed less than 5 per cent growth in sales of electric vehicles in 2024 compared to 2023.
Despite sales of electric and plug-in hybrid vehicles increasing by 26 per cent globally in December – compared with the same time in 2023, research firm Rho Motion reports – it marked the second consecutive month of slowing growth, suggesting the trend may be tapering off.
It's estimated more than 17 million electric vehicles were sold globally in 2024.
While some markets are showing slowing growth, globally, data shows the sales of battery-electric cars grew by 25 per cent in 2024.
Sales of electric cars in Australia grew by less than 5 per cent in 2024 – showing less growth than the US, with 7.3 per cent, and well below global growth of 25 per cent.