And global sales of electric cars were up by almost a third in September
In recent months, automakers around the world have pledged to shift attention to hybrid models, delay new electric cars and push back production targets for battery-powered vehicles. That might make you think sales of electric vehicles are in dire straits, but they aren’t. In fact, global sales of EVs are on the up and America just set a new record for EV sales in the third quarter of 2024.
Global sales of electric cars were up by almost a third in September, reports Reuters. The boost came as strong demand for EVs swept China, and Europe saw increased interest in electrification after a few months of stagnation, as the site reports:
EVs - whether fully electric (BEV) or plug-in hybrids (PHEVs) - sold worldwide reached 1.69 million in September, Rho Motion data showed.
Sales in China jumped 47.9% in September and reached 1.12 million vehicles, while in the United States and Canada they were up 4.3% to 0.15 million.
In Europe, EV sales rose 4.2% to 0.3 million units, thanks to a 24% jump in the United Kingdom and gains in Italy, Germany and Denmark, Lester said.
The growth here in America seems to be more long-lived, as sales for the three-month period to the end of September 2024 set a new record in EV deliveries, adds Kelley Blue Book. The rate at which EV sales are growing in America is slowing, but things like discounts and incentives available on some models are helping sales reach new heights.
In total, Americans purchased more than 346,000 EVs during the third quarter of 2024, reports KBB. The figure marks an 11 percent increase on the same period in 2023 and now means that EVs make up almost nine percent of all cars sold in the U.S., as KBB adds:
“While year-over-year growth has slowed, EV sales in the U.S. continue to march higher,” said Stephanie Valdez Streaty, director of Industry Insights at Cox Automotive. “The growth is being fueled in part by Incentives and discounts, but as more affordable EVs enter the market and infrastructure improves, we can expect even greater adoption in the coming years.”
Discounts helped more Americans get into EVs. Incentives made up 12% of the average EV transaction price last quarter, compared to 7% of the average new car sale.
Tesla $TSLA currently markets the top selling EVs in America, with the Cybertruck becoming the third best-selling EV in America, just behind the company’s Model 3 and Y cars. Ford $F makes the best-selling non-Tesla EV with the Mustang Mach E.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.
