Global EV sales to grow by 30% in 2025, says new study

The study estimates that BEV sales in 2024 will close at around 11.6 million units

According to a new study, sales of electric vehicles are predicted to hit 15.1 million units globally next year – making up 16.7% of the total global new car sales. The study estimates that BEV sales in 2024 will close at around 11.6 million units – predicting almost 30% year-on-year growth in 2025.

The S&P Global Mobility study states that growth will vary between regions, influenced by government policy, tariffs, incentives and charging infrastructure.

Looking at specific regions, the study showed EVs will account for only 7.5% of the total car sales in India, despite a 117% year-on-year growth. In the US, EVs will grow by 36% but will occupy an 11.2% market share. However, in China, EVs are expected to outsell ICE-powered cars for the first time – 10 years ahead of schedule. BEVs in central & western Europe are expected to control 20.4% market share and have a 43.4% year-on-year growth in sales.

Source: S&P Global Mobility

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