- Global sales of all-electric and plug-in hybrid vehicles hit a new record in September.
- Except for Europe, the world saw double-digit increases in year-to-date sales, too.
All electric and plug-in hybrid vehicles are doing just fine, despite what you might have read elsewhere. While it’s true that some car brands are having a rough time and others have adjusted their rather optimistic EV rollout plans, the big picture is clear: EVs are on the rise.
Last month, a record-breaking number of all-electric and plug-in hybrid cars were sold globally, according to research firm Rho Motion. In September, a whopping 1.7 million BEVs and PHEVs were sold around the world, an increase of 30.5% year-over-year and 150,000 more units compared to the previous record set in December 2023.
From January to September, there were 11.5 million EVs and PHEVs sold globally, up 22% compared to the same period last year.
The biggest player by far is China, with an astonishing 7.2 million so-called new energy vehicles (NEVs) sold from the beginning of the year, an increase of 35% from last year. NEVs include battery electric vehicles (EVs), plug-in hybrid electric vehicles (PHEVs) and fuel-cell electric vehicles (FCEVs).
The United States and Canada recorded a 10% increase in year-to-date sales, reaching a combined 1.3 million units, followed by Europe, where 2.2 million EVs and PHEVs were sold between January and September.
That said, sales of electrified vehicles in the European Union, United Kingdom and countries of the European Free Trade Association went down 4% in the first nine months of the year compared to 2023. However, things are slowly getting back on track, with a 4% increase in September. All-electric vehicles saw a healthy year-on-year increase of 12% last month, while plug-in hybrid vehicle sales went down 12%.
"This record-breaking month of EV sales brings new hope to the industry,” said Charles Lester, Rho Motion Data Manager. While the electrification of transport seems inevitable, the recent slowdown of sales in many parts of the world has sewn seeds of doubt which can now start to be swept aside. However, the regional disparities are astonishing, with China alone accounting for well over half the global total, meanwhile, Europe’s numbers are shrinking and the US and Canada are steadily growing.”
Stateside, all-electric vehicle sales set another record in the third quarter, according to car trading and market insights firm Cox Automotive. Nearly 350,000 EVs were sold in Q3 2024, up 5% from the second quarter, reaching a total market share of 8.9%. This led analysts to predict that a 10% market share for EVs in the United States is “within reach” by the end of this year.
