Global electric vehicle (EV) registrations are on course to reach 10.8 m by the end of the year, according to data from New AutoMotive’s latest Global Electric Vehicle Tracker (GEVT).
The figure represents global growth of 7% on last year, with a total of 700,000 more EVs being sold worldwide throughout 2024. Meanwhile, plug-in hybrids are trending towards 4.8 million, 1.7 m (54%) up on 2023.
ICE vehicle registrations, whilst out in front for now, are set to finish at 43 m - the lowest figure for four years and down 2.3 million (5%) on 2023, making them the only fuel type for which demand is lagging.
So far this year, 9.5 m battery-electric cars were registered, an increase of 600,000 or almost 7% on the same period in 2023.
The increases were primarily driven by China, which saw new battery electric sales rise 508,000, the US, which rose 86,000, and the UK with 48,000 additional registrations. The combined market share of battery electric and plug in hybrid cars was 23.2%, up from 20.1% in January to November last year.
In November alone, 1.1 m battery electric cars were registered, an increase of 67,000, or 6% on November 2023. This is also a 7% increase on October' 2024’s figures.
Adding the greatest proportion of registrations was China, with an increase of 56,000, or 8% on the same month last year. The US is second, with a rise of just under 16,000 or 22%, and the UK third, with more than 12,000 - a huge 54% lift. Amongst the largest 10 markets, only three - France, Germany and Sweden - declined.
Meanwhile, helped by the recent surge in Chinese plug-in hybrid volumes, vehicles with a plug now account for 26.7% of cars - more than one in four.
Ben Nelmes, CEO of New AutoMotive, said: “The numbers speak for themselves: demand for EVs and plug-ins keeps climbing, month-on-month and year-on-year, while ICE sales shrink to levels not seen since the pandemic.
“As the UK’s exemplary policy shows, ambitious targets will drive consumer adoption and accelerate the inevitable rise of electric vehicles, which will improve the lives of people around the world.
“The market has spoken - the transition isn’t coming; it’s already here, and it’s unstoppable.”
New AutoMotive’s monthly tracker analyses progress in the global phase out of sales of diesel and petrol vehicles. The platform covers car sales, targets, incentives and regulations in 42 major automotive markets - 85% of the world’s new car sales.