🔋 EV sales increase while gas car sales continue to decline

• Global sales of electric vehicles increased by 22 percent in the first three quarters of 2024.
• China grew by 35 percent and North America by 10 percent.
• Sales of new gas-powered cars have decreased by approximately 25 percent since 2017.

Global growth continues

The global electric vehicle market continues to grow. During the first three quarters of 2024, sales increased by 22 percent. China leads with the largest increase at 35 percent, North America grows by 10 percent, Europe decreases by 4 percent, while "rest of the world" shows growth of 25 percent.

Many automakers are showing significant sales increases during 2024. In the US, several brands show strong growth, with some manufacturers displaying double-digit increase rates. BMW and Mercedes are significantly increasing their sales, and Hyundai/Kia also shows positive development.

Norway strengthens its position as a leader in electrification. In September 2024, the country reached a new record level with 96.4 percent electric vehicles of total car sales. A total of 12,495 electric vehicles were sold during the month, representing a 10 percent increase compared to the same period last year.

China's electric vehicle market shows particularly impressive numbers with a 35 percent increase. The country is driving global development with strong growth in both sales and development of new models.

Gas cars decline

While electric vehicle sales increase, sales of gas-powered cars continue to decline globally. Since the peak in 2017, sales of new gas-powered cars have decreased by approximately 25 percent.

Increased model diversity

A wider range of models from different manufacturers now characterizes the electric vehicle market. Chevrolet recently launched its Equinox, which contributed to the brand's strong growth during the third quarter. Several manufacturers are expanding their electric vehicle lineup to meet increasing demand.