Sales Of Electric Cars Globally Rose By 25 Percent Last Year

Global sales of electric cars rose 25 percent last year, with growth in China and decline in Europe.

A record 17.1 million battery electric vehicles, excluding plug-in hybrids, were sold worldwide last year. This was according to data from British consulting firm Rho Motion.

China strengthened its position as the world’s leading electric vehicle market last year, with 11 million electric cars sold there, a 40 percent increase over 2023.

In Europe (including the UK, Iceland, Norway, and Switzerland), electric vehicle sales fell by three percent to three million after four years of strong growth.

Sales of electric vehicles fell significantly in Germany last year due to the government’s decision to end subsidies for the purchase of these vehicles, while in the UK, which has become the main European market for electric vehicles, sales increased by 21 percent.

Electric vehicle sales also rose in the US and Canada, up nine percent to 1.8 million vehicles.

Rho Motion pointed out that government incentives for the purchase of electric vehicles (or lack thereof) play a significant role in sales, as electric vehicles remain more expensive compared to conventional vehicles.

According to analysts at the British firm, further trends in electric vehicle sales could be influenced by, among other things, plans by newly elected US President Donald Trump to eliminate sales incentives for electric vehicles, stricter emission restrictions in Europe, European tariffs on imports of Chinese electric vehicles, and plans by Chinese car manufacturers to build factories in Europe.

• Read More: Electric Cars Are Too Expensive According To A New Market Study