Against all expectations, sales of electric cars have increased significantly around the world

While the market is slow in Europe, in other countries, starting with China, sales of electric cars are doing wonderfully.

In 2024, global sales of electric cars will jump by 25 %reaching a record of 17.1 million unitsaccording to data published by Rho Motion.

This overall growth, however, masks very varied developments depending on the region, with a strong surge in China and an initial slowdown in Europe.

China, world locomotive of electric cars

China confirms its role as pillar of the global electric car market, with 11 million vehicles soldan impressive increase of 40% in one year. This dynamism is largely supported by favorable government policies, including subsidies and the rapid development of charging infrastructure.

In Europe, the trend is reversing after four years of strong growth. Sales fell slightly, with 3 million units registereda drop of 3%. This decline is part of a general context of slowdown in the automobile market, where hybrid models are gaining market share while sales of thermal vehicles continue to fall.

The removal of subsidies in Germanya key market, weighed on sales. Conversely, the United Kingdom recorded an increase of 21.4%, becoming the largest electricity market in the region thanks to the implementation of ambitious sales targets for manufacturers.

In North America, sales of electric cars increased by 9 %with 1.8 million units sold in the United States and Canada. Government incentives, such as purchase bonuses and business aid, have played a key role. However, President-elect Donald Trump’s announcement to eliminate this aid from 2025 could slow down this progress.

The role of public policies

Regional disparities in electric car sales are closely linked to public policies. Scrappage bonuses, purchase bonuses and regulatory objectives are essential to offset the still high prices of these vehicles. In Europe, the absence of new incentives combined with the high prices of electric models is slowing adoption.

The year 2025 could mark a turning point for the European market with the entry into force of stricter standards on CO emissions₂ with CAFE regulations. Manufacturers, to avoid being exposed to heavy fines, will have to sell more electric cars and fewer thermal models.

At the same time, Europe is strengthening its measures to limit imports of Chinese brands like BYD and MG, brands which also offer a fairly wide choice of electric cars.