Electric Vehicle Sales Review Q3-2024

By the third quarter of 2024, the electric vehicle (EV) market share across all analyzed regions has risen to 41%. A key driver of this growth is the rapid expansion of the Chinese plug-in hybrid electric vehicle (PHEV) market, which has more than tripled in size since early 2023.

Other regions have also made significant progress in the third quarter. In the top five European markets, EV sales now represent 56% of all new vehicle registrations. The United States is also advancing steadily, with its total EV market share exceeding 20% for the first time in Q3 2024.

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Chinese OEMs to produce 700,000+ cars in Europe by 2030

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