https://www.siliconvalley.com/2024/07/07/international-energy-agency-reports-strong-global-ev-sales/

On April 23rd, the International Energy Agency (IEA) released its annual report on worldwide electric mobility trends, “Global EV Outlook 2024.” The publication documents robust growth in the sale of electric vehicles across major auto markets, with the bulk of new EV sales occurring in China (60%), Europe (25%), and the United States (10%). The promising global trends identified by the IEA contradict gloomier assessments heard here in the U.S., where many have suggested that EV adoption is losing momentum.

The upbeat report begins with a compelling barrage of very encouraging statistics. According to the IEA, new EV sales could reach “around 17 million in 2024, accounting for more than one in five cars sold worldwide.” 2023 was a banner year for global EV sales, with market share reaching 18% on sales of nearly 14 million vehicles. The market share figure was considerably higher than the 14% recorded in 2022. The global EV sales figure rose by about 3.5 million vehicles, representing a 35% year-on-year increase. The rapid pace of growth was down slightly during the first quarter of 2024, but still quite strong, with global EV sales 25% higher than sales recorded during the first quarter of 2023. To emphasize the dramatic progress that has been made over the last decade, the IEA reports that, on average, over 250,000 EVs were sold each week during 2023, which is more than all the EVs sold in 2013.