China’s electric vehicle (EV) sales reached 11.3 million last year, making up nearly two-thirds of global sales, according to the latest sector report.
Global EV sales rose to 17.3 million in 2024, marking a 25% increase from 14 million in 2023, according to the Global Energy Review 2025 published by the International Energy Agency (IEA).
EVs accounted for 20% of total vehicle sales worldwide last year.
– China leads global EV growth
China continues to dominate the rapid growth of EV sales, nearly double the total sales in the rest of the world.
The country saw a 40% year-on-year increase in EV sales in 2024.
Demand for long-range EVs continues to rise in China, supported by a government-backed vehicle trade-in subsidy program.
In 2019, China’s total EV sales were only one million. By 2024, this figure had increased more than tenfold to 11.3 million.
– EV sales slow in Europe, grow in US
The US saw a 10% year-on-year increase in EV sales in 2024, reaching 1.5 million.
Growth was fueled by the introduction of new EV models and government incentives for consumers.
However, uncertainty looms over the sector following statements by former President Donald Trump, suggesting that EV incentives might be removed.
In Europe, EV sales fell to 3.2 million, with a 6% decline largely due to weakening demand in Germany.
For the first time, UK emerged as Europe’s leader in battery-electric vehicle sales, after implementing of zero-emission vehicle mandates.
Meanwhile, EV sales in the rest of the world reached 1.3 million.
Sales in emerging markets outside China grew by 80% year-on-year, with Brazil and Indonesia recording surges of 140% and 190%, respectively.
– EV sales to grow 18% in 2025
According to UK-based research firm Rho Motion, EV sales are expected to maintain strong growth in 2025, mirroring 2024’s trends.
Global EV sales are projected to exceed 20 million this year, an 18% increase. China is expected to account for 12.9 million of these sales, reflecting a 17% year-on-year increase.
In Europe, EV sales are forecast to rise by 15% to 3.5 million, while sales in the US and Canada are expected to reach 2.1 million in 2025.
