19/05/2024
Slowly but surely the Electric Vehicles will take over the global car market.
In March 2024, global registrations of plug-in electric cars increased by 19% year-over-year, reaching 1,314,687 new vehicles. This significant growth highlights a strong consumer demand for electric vehicles, with the market share rising to approximately 19%. Notably, all-electric vehicles (BEVs) accounted for about 65% of all plug-in registrations, showcasing a preference for fully electric models over hybrids.
The first quarter of 2024 continued to show robust growth in the electric vehicle market, with over 3.2 million plug-in cars registered, representing about 16% of the total vehicle market. This marks a 25% increase compared to the same period last year, with projections indicating that 2024 could see nearly 20 million units registered globally.
The Tesla Model Y led the charge as the world's best-selling plug-in model in March, with significant contributions from other models and manufacturers. BYD notably placed seven models in the top 10, reflecting a diverse and competitive market. These figures underscore the increasing shift towards electric vehicles, driven by advancements in technology and growing environmental awareness.
