Global EV sales 2024: China leads, Asia and LatAm surge
Global EV sales 2024: China leads, Europe cools, Asia and LatAm surge
Global EV sales 2024: China leads, Asia and LatAm surge
2024 EV market snapshot: China 48%, Europe mixed on subsidy cuts, Asia and LatAm surging. BYD leads ahead of Tesla and Geely. See key trends and incentives.
2025-10-26T10:56:03+03:00
2025-10-26T10:56:03+03:00
2025-10-26T10:56:03+03:00
Electric vehicles keep gaining ground worldwide, though the pace varies sharply. According to TradingPedia data reviewed by SPEEDME.RU and based on statistics from the International Energy Agency and the European Automobile Manufacturers’ Association, China holds a commanding lead: in 2024, EVs and hybrids made up 48% of new-car sales. For context, the United States reached just 10%, while Canada stood at 17%.Across Europe, electrified models accounted for 22.7% of all registrations. Norway is out in front at 91.6%, with Sweden at 58.4% and Denmark at 55.6%. Germany and France moved the other way after subsidy cuts, with declines of 27% and 2.5% respectively. The contrast makes one thing clear: trim incentives, and demand cools quickly.The sharpest momentum is now in Asia and Latin America. EV sales jumped 186% in Indonesia, 165% in Chile, 146% in Malaysia, and 140% in Brazil. Analysts point to these markets as the new growth zone, supported by lower prices and tax breaks. Buyers there respond strongly to upfront affordability, and policy signals are proving decisive.On the global sales leaderboard, BYD reached 932,000 units, followed by Tesla at 336,000 and Geely at 260,000. Chinese brands are tightening their grip, while Europe and the United States are easing off the pace. Despite setbacks in a few countries, the direction is unmistakable: the electric car is edging into the mainstream, even if the transition remains uneven. For now, scale and stable incentives look like the winning combination.
EV sales 2024, global EV market, China EV share 48%, Europe subsidy cuts, Asia LatAm EV growth, BYD Tesla Geely sales, electric car trends, incentives impact, market data, IEA statistics
2025
Michael Powers
news
Global EV sales 2024: China leads, Europe cools, Asia and LatAm surge
2024 EV market snapshot: China 48%, Europe mixed on subsidy cuts, Asia and LatAm surging. BYD leads ahead of Tesla and Geely. See key trends and incentives.
Michael Powers, Editor
Electric vehicles keep gaining ground worldwide, though the pace varies sharply. According to TradingPedia data reviewed by SPEEDME.RU and based on statistics from the International Energy Agency and the European Automobile Manufacturers’ Association, China holds a commanding lead: in 2024, EVs and hybrids made up 48% of new-car sales. For context, the United States reached just 10%, while Canada stood at 17%.
Across Europe, electrified models accounted for 22.7% of all registrations. Norway is out in front at 91.6%, with Sweden at 58.4% and Denmark at 55.6%. Germany and France moved the other way after subsidy cuts, with declines of 27% and 2.5% respectively. The contrast makes one thing clear: trim incentives, and demand cools quickly.
The sharpest momentum is now in Asia and Latin America. EV sales jumped 186% in Indonesia, 165% in Chile, 146% in Malaysia, and 140% in Brazil. Analysts point to these markets as the new growth zone, supported by lower prices and tax breaks. Buyers there respond strongly to upfront affordability, and policy signals are proving decisive.
On the global sales leaderboard, BYD reached 932,000 units, followed by Tesla at 336,000 and Geely at 260,000. Chinese brands are tightening their grip, while Europe and the United States are easing off the pace. Despite setbacks in a few countries, the direction is unmistakable: the electric car is edging into the mainstream, even if the transition remains uneven. For now, scale and stable incentives look like the winning combination.
