Electric Vehicle Sales Rise Worldwide
(MENAFN) According to a recent analysis by the International Energy Agency (IEA), the total number of electric vehicles (EVs) sold across the globe is anticipated to surpass 20 million in 2025.
This would represent over one-quarter of all automobiles sold globally.
The Global EV Outlook underscores the continued expansion of the EV market, even as the international economy faces headwinds and the automotive industry experiences ongoing strain.
Last year, global EV purchases exceeded 17 million, marking a milestone as the market share for electric vehicles crossed the 20 percent threshold for the first time.
China upheld its dominant position in the sector, accounting for over 50 percent of total EV transactions.
The 11 million EVs sold in China in 2024 matched the global total of electric vehicle sales from 2022.
There was also notable progress in emerging regions. Sales in parts of Asia and Latin America saw a 60 percent increase over the past year.
In contrast, the United States experienced a more modest growth rate of 10 percent year-over-year.
Meanwhile, the European market plateaued, as diminishing government support and reduced financial incentives slowed consumer uptake.
A unique trend emerged in China, where approximately two-thirds of electric vehicles sold were priced below traditional cars, despite the absence of direct subsidies.
However, in many other countries, the price gap between electric and conventional cars remained substantial.
During the first quarter of this year, EV sales expanded by 35 percent compared to the same period in the previous year.
If this momentum continues, the total number of electric vehicles sold in 2025 is projected to exceed 20 million units.
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