Electric Car Sales Increased by 25 per cent Globally in 2024 – report

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.