Electric car sales back on the rise worldwide

Fully electric cars and plug-in hybrids took 30% of the market in September. But Europe is in danger of seeing a further decline.

By: Riccardo Ciriaco

Oct 16, 2024 at 4:39am ET

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One swallow doesn't make a summer, but September's figures for global sales of electric cars have raised hopes for a market in crisis. Over the past month, registrations of fully electric cars and plug-in hybrids rose by 30.5%.

The only negative note comes from the United States, where purchases at dealerships are slowing due to the uncertainty surrounding the elections and the resulting transition policies.

Locomotive China

In detail, 1.69 million plug-in cars were sold worldwide in September, with China leading the way with 1.12 million registrations (+47.9% compared with the same month in 2023) and Europe following, buoyed by around 300,000 deliveries (+4.2%), while the USA and Canada recorded 150,000 new units (+4.3%) and the rest of the world stood at 120,000.

EV sales worldwide (September)

China: 1.12 million (+47.9%)
Europe: 300,000 (+4.2%)
America: 150,000 (+4.3%)
rest of the world: 120,000 (% n.a.)
Total: 1.69 million (30.5%)

Electric car charging points

Including total sales from January to September, global figures reach 11.5 million (+22%), with China at 7.2 million (+35%), Europe at 2.2 million (-4%), America at 1.3 million (+10%) and the rest of the world at 900,000 (+25%).

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EV sales worldwide (January-September)

China: 7.2 million (+35%)
Europe: 2.2 million (-4%)
America: 1.3 million (+10%)
Rest of the world: 900,000 (+25%)
Total: 11.5 million (+22%)

Europe: a declining future?

The percentages reveal a two-speed market. On the one hand, there is the Land of the Dragon, where, according to analyst Charles Lester, the penetration rate of BEVs and PHEVs is growing faster than expected, and where sales "could reach record levels every month until the end of the year".

On the other hand, there's the Old Continent, where registration forecasts for 2025 and 2030 are down 24% and 19% on previous estimates, at 3.78 and 9.78 million.