Sales of new electric vehicles (EVs) in the United States have exceeded those in Europe for the first time, with a record-breaking 344,000 vehicles sold in Q3 2024.
According to data from New AutoMotive’s Global Electric Vehicle Tracker (GEVT), this achievement occurred despite a slowdown in September, which saw over 104,000 units sold in the US during the month.
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Globally, EV sales reached 1.05 million in September, accounting for 18.6% of the global market share. The year-to-date total for EV sales by September 2024 now stands at 10.6 million.
Several European countries, including Belgium, Denmark, Italy, Norway, and Portugal, reported a more than 30% year-on-year increase in EV sales for September. Hungary, Malta, the Netherlands, and Spain saw even stronger growth, with sales jumping by 50% compared to September 2023.
Germany, which has faced challenges following the removal of EV subsidies earlier this year, saw a more modest increase, with sales rising 8.7% compared to the same month in 2023.
Meanwhile, the UK registered over 10,000 more EV sales in September 2024 compared to the same period last year, positioning it to become the fourth-largest EV market globally.
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By GlobalDataIn Europe, Tesla continues to dominate the market, with sales in the 12 months to September outpacing those of BMW and Volkswagen by over 50%. However, in China, Tesla trails behind BYD, which sold nearly twice as many vehicles as its American competitor.
The Chinese market is also seeing a rapid decline in internal combustion engine (ICE) vehicle sales, with an 18% drop in September compared to the previous year. ICE vehicles now make up 54% of the Chinese market, continuing their downward trend.
Ben Nelmes, CEO of New AutoMotive, commented on the global EV market, noting that while EV sales continue to grow worldwide, Europe risks losing its position in the race to electrify transport. “Europe is falling behind the US as sales growth lags, and policymakers consider rolling back emissions regulations,” Nelmes said. He also pointed to cuts in incentives and the introduction of tariffs as factors slowing European sales growth, but stated that these obstacles will not prevent the continued rise of EVs.
“The key question is whether Europe chooses a slow transition, or whether it stays on course, attracting jobs, growth, and investment in clean vehicle manufacturing and making cheaper, cleaner transport accessible for all,” he added.
