Electric Vehicle Sales Surge: 2024 Year in Review
November 2024 Wrap-Up, Sales are up 11.5%
Plug-in electric vehicles (PEVs) include both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), and sales continue to grow. As of the end of November, a total of 1,412,298 PEVs have been sold in 2024. EV sales this year continue to outperform last year’s EV sales. EV sales growth has also kept pace with overall light-duty sales growth.
Data Background: For context, at the end of November 2023, cumulative PEV sales amounted to 1,295,426 vehicles sold. In other words, 116,872 (9%) more PEVs have sold in 2024 than at this same time last year.
Plug-in electric vehicles (PEVs) captured 10.4% of total light-duty vehicle (LDV) sales in November 2024. PEVs were 9.4% of annual passenger vehicle sales in 2023, up from 6.8% in the annual sales from 2022.
A total of 141,442 PEVs (117,929 BEVs and 23,513 PHEVs) were sold during November 2024 in the United States, up 11.5% from the sales in November 2023.
1,360,060 light-duty vehicles (240,484 cars and 1,119,576 light trucks) were sold in the United States during November 2024, up 10.1% from the sales in November 2023. Cumulatively, over 6.1 million PEVs have been sold in the United States to date.
EV Consumer Interest, Availability, and Affordability
Relatively new EV entrants continue to rise to the top 10 best-selling PEVs in November. The Honda Prologue sales increased 65%, and the Chevrolet Equinox sales increased 69% in November compared to October. Ford’s EVs performed well in November, with Mach-E sales increasing by 79% in the last month, and the Ford F-150 Lightning appeared in the top 10 with a 96% increase in sales in November compared to October.
The market is evolving, with Honda and Chevy attracting new customers, and the F-150 sales increased by 96% in November.
New EV entrants continue to rise to the top 10 best-selling PEVs in November. The Honda Prologue sales increased 65%, and the Chevrolet Equinox sales increased 69% in November compared to October. Ford’s EVs performed well in November, with Mach-E sales increasing by 79% in the last month, and the Ford F-150 Lightning appeared in the top 10 with a 96% increase in sales in November compared to October.
Forget what you’ve heard; EV Registrations continue exploding, transforming car sales.
The narrative of electric vehicle growth is just beginning: key highlights from 2024 and a glimpse into 2025. In 2024, global electric vehicle sales skyrocketed by an impressive 25%, reaching a remarkable total of 17.1 million units. As traditional gasoline car sales continue to experience a long-term decline, this shift toward electric vehicles is increasingly recognized as the new standard in the automotive industry. (finance.yahoo.com)
EnergyOne is Actively Looking at these issues, with updates coming soon
Key Issues and News EnergyOne is Watching
- The Future of Mobility: Analyzing 2024s Electric Vehicle Sales Boom
- EV Market Dynamics: How 2024 Reshaped Electric Vehicle Sales Trends
- Growing Green: A 25% Increase in Global EV Sales Reflects 2024 Trends
- From Strength to Strength: 2024 EV Sales Predictions and Insights
- Global Electric Vehicle Market Poised for Growth: 2024 Sales Figures
- Q4 2024 Updates: Are We Heading Towards Another EV Sales Record?
- The Rise of Electric Vehicles: Unpacking Growth Statistics for 2024
- Powering Ahead: Monthly Analysis of 2024s Electric Vehicle Sales Performance
- The Electric Vehicle Revolution: A Comprehensive Review of 2024 Sales Data
Key References and Background
- Trends in electric cars – Global EV Outlook 2024 – Analysis – IEA – Global EV Outlook 2024 – Analysis and key findings. A report by the International Energy Agency. (iea.org)
- The Global Electric Vehicle Market In 2024 – How has the electric car market developed in the past few years? How many electric vehicles are on the roads in 2024? And what does the future look like? (virta.global)
- The EV Growth Story is Far From Over: 2024 Highlights and 2025 Outlook – Global EV sales soar 25% to 17.1 million units in 2024. With gasoline car sales in long-term decline, the transition to EVs is becoming the new norm. (finance.yahoo.com)
- Over 17 million EVs sold in 2024 – Record Year – Rho Motion, the leading electric vehicle (EV) research house, today revealed that following the fourth successive global monthly record of passenger car and light-duty EV sales, 17.1 million units were sold in 2024. December 2024 resulted in over 1.9 (rhomotion.com)
- Are global EV sales forecast to improve by the end of 2024? – Will Europe’s sluggish (EV) market impact global deliveries in 2024? Neil King, head of forecasting at EV Volumes, presents the latest outlook. (autovista24.autovistagroup.com)
- U.S. EV Sales Hit Another Record In Q3 2024: ‘10% Share Within Reach’ – General Motors has officially become America’s second-best-selling EV maker behind Tesla, pushing Hyundai Motors Group into the third spot. (insideevs.com)
- Global electric vehicle sales up 25% in record 2024 – Global sales of fully electric and plug-in hybrid vehicles rose by a quarter last year to over 17 million cars, helped by a fourth consecutive month of record sales in December as China continued to grow and Europe stabilised, data showed on Tuesday. (reuters.com)
- Monthly EV Minute: Based on November 2024 Data · Joint Office of Energy and Transportation – A monthly update series that provides the latest developments on EV sales, EV user satisfaction, and EV charging growth based on comprehensive, nationally recognized data sources. (driveelectric.gov)
- Electric Vehicle Sales and Market Share (US – Q4 2024 Updates) – CarEdge – Automakers are rapidly launching electrified lineups. This page will be updated with the latest EV market share and sales numbers in 2025. (caredge.com)
- The EV Sales Slump Of 2024 Was Overblown, Now Let’s Do 2025 – CleanTechnica – Global EV sales continued to increase in 2024, though 2025 could be a work in progress the US after President Biden leaves office. (cleantechnica.com)
- Electric Vehicle Sales Review Q2-2024 – Strategy& and PwC Autofacts® have analyzed electric vehicle sales worldwide in the second quarter of 2024. (strategyand.pwc.com)
- U.S. share of electric and hybrid vehicle sales increased in the second quarter of 2024 – U.S. Energy Information Administration (EIA) (eia.gov)
- Monthly EV Minute: Based on October 2024 Data · Joint Office of Energy and Transportation – A monthly update series that provides the latest developments on EV sales, EV user satisfaction, and EV charging growth based on comprehensive, nationally recognized data sources. (driveelectric.gov)
- Global EV Sales Report H1 2024 by EV Universe – Insights from 54 markets. (evuniverse.io)
- Global EV sales heading for record 16.7 million sales in 2024, despite reports of slowdown – Global EV sales are heading for a record year in 2024, despite the headlines saying otherwise, with growth of 26 per cent. (thedriven.io)
- Electric Vehicle Sales Review Q3-2024 – Strategy& and PwC Autofacts® have analyzed electric vehicle sales worldwide in the third quarter of 2024. (strategyand.pwc.com)
- 1.9 million EVs were sold in 2024, showing 27% annual growth | Carbon Copy – In 2024, 1.9 million electric vehicle sales were sold in India, which means there was… (carboncopy.info)
- Official figures show record EV sales in 2024 – EVs take record market share at 19.6% but officials disagree over targets (electrifying.com)
- Access to this page has been denied. (investors.com)
Factors Driving EV Sales Growth
Decline of Gas-Powered Vehicles
Improvements in Charging Infrastructure
Rise of Plug-in Hybrids (PHEVs)
Future Outlook for the EV Market
Predictions for 2025
Technological Advancements and Innovations
Growth of Second-Hand Electric Car Market
Top 20 Topics
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Topics EnergyOne is exploring
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Watch for future articles
What is the EV market trend in 2024?
How many EV sales in the US in 2024?
How much will EV sales be in 2025?
What is the growth rate of EV sales?