Five facts about electric vehicles in 2024

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DETROIT (AP) — Electric vehicles had another busy year around the world, driven by buyers in China and growth in parts of Europe and the United States, despite headwinds.

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In an important achievement for China, the world’s largest car market, electric cars accounted for 50% of new car sales in July. This included pure battery electric cars as well as hybrid electric cars. Chinese companies like BYD continue to gain traction around the world with their cheap electric cars.

Electric cars have also made progress in Europe and the United States. Uncertainty over purchase support could complicate matters come 2025, especially under the incoming Trump administration in the US. But ordinary consumers remain interested in new models, longer driving ranges, better performance and lower prices.

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Switching to electric vehicles is an important part of the clean energy transition. Road transport accounts for about one-sixth of all global energy emissions, according to the International Energy Agency. Widespread adoption of electric vehicles could significantly address climate change.

Here are five facts about electric cars this year. Most of the data comes from consulting firm Rho Motion.

How well do electric cars sell?

The global electric vehicle market, including pure electric vehicles and hybrids, grew 25% year-on-year as of November.

Rho Motion estimates that 15.2 million electric cars will be sold worldwide before the end of the year, and the International Energy Agency expects electric car sales to reach one in five cars sold globally. Most of them were in China.

Where has the share of new electric vehicles jumped the most?

Mexico sold nearly 5 times as many electric vehicles this year than last, most of them from powerhouse Chinese automaker BYD, according to Rho Motion.

Because China has a much larger population, its 40% year-to-date growth translates into a much larger number of EVs than Mexico’s five-fold increase.

Another area of ​​note is the UK, which has seen a roughly 17% year-to-date increase. It is interesting to compare it with France and Germany, which saw a decline in sales.

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In Turkey, the electric car market has grown by approximately 50% from the beginning of the year to date, driven by the entry of Tesla into the market last year, and the increase in sales of the Turkish car company Togg.

In Norway, which for years has been in first place in terms of share of electric vehicles, 90% of new cars have been electric vehicles.

What is the best-selling electric car in the world? In the United States?

The best-selling pure electric vehicle was the Tesla Model Y, followed by the Tesla Model 3 — both globally and in the U.S., according to Rho Motion.

The Model Y SUV was released in 2020. Its basic version today costs about $45,000.

The Model 3 was released in 2017. The least expensive version sells for about $42,000.

Both are eligible for a $7,500 US tax credit

Tesla’s image changing?

Tesla had a market share of 17% of all electric vehicles worldwide as of October, according to Rho Motion.

In the United States, Tesla’s market share reached 49% as of October. This means that the company still has the largest share of the electric vehicle market. But its grip is shrinking as other car companies collectively sell an increasing number of electric cars. For example, General Motors, Ford, Honda and others offer a wide range of electric vehicles at lower prices and volumes and are cutting into Tesla’s long-standing lead.

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Tesla remains the world’s most valuable car company, with a market capitalization of $1.4 trillion.

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Alexa St. John is a climate solutions reporter for The Associated Press. Follow her on X: ↕alexa_stjohn. Contact her at ast.john↕ap.org.

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Read more AP climate coverage at http://www.apnews.com/climate-and-environment

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AP’s climate and environment coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with charities, a list of supporters and funded coverage areas on AP.org.

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