International battery electrical automobile (BEV) gross sales reached 10.4m over the previous 12 months to March 2024, in response to knowledge from New AutoMotive’s International Electrical Automobile Tracker (GEVT).
The determine represents a 35% enhance in BEV gross sales in comparison with March within the earlier yr – with rising markets like Thailand and India main the cost. The identical enhance in gross sales was additionally seen in February’s YoY gross sales, displaying clear and constant development within the world EV market.
BEV gross sales proceed to enhance in China, with whole gross sales up 17% in comparison with March final yr. Gross sales of recent petrol and diesel automobiles failed to extend in the identical interval – suggesting the nation is already reaching its peak variety of ICE automobiles.
In South America, Brazil’s BEV market has continued its fast development which started final summer time, with the nation seeing a 950% enhance in YoY BEV gross sales in March 2024.
Many mature European markets are additionally driving the worldwide enhance in BEV gross sales, with international locations like Belgium, Denmark, Portugal and Finland all seeing gross sales enhance greater than 50% in comparison with final yr.
Regardless of latest headlines, Tesla stays forward in most markets the place full producer knowledge is offered. Nevertheless, with world competitors on the rise, the producer’s market share in China is being more and more squeezed.
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Ben Nelmes, CEO of New AutoMotive, stated: “International BEV gross sales stay excessive, and each rising and mature markets are driving development. This, mixed with the actual fact China is closing in on some extent of peak new petrol and diesel automobile gross sales, is a surefire signal that we’re not off course.
“Coverage incentives and gross sales targets are working in a big majority of nations, with many of those markets nonetheless initially of their transition to wash transport. The important thing to sustaining world momentum is holding these bold authorities insurance policies in place, and making it extra reasonably priced for individuals to make the change.
“These sturdy numbers ought to present reassurance to any authorities that’s contemplating elevating the ambition of its EV insurance policies. The advantages of cheaper transport and improved power safety are effectively inside attain, with the best mixture of obligations for automotive producers and incentives for shoppers.”
