Rho Motion: record number EVs sold worldwide in September
15 October 2024
A record-breaking 1.7 million EVs were sold globally over the month of September, according to research-house Rho Motion. September overtook the previous record set in December 2023 by 150,000 units.
The Chinese market beat their previous record set in August by 90,000 vehicles, to reach 1.1 million units sold in September 2024. Overall, 11.5 million EVs have been sold globally so far this year, growing by 22% Year To Date (YTD).
Snapshot of electric vehicle sales in January - September 2024 vs Jan-Sept 2023:
Global: 11.5 million, +22%
China: 7.2 million, +35%
EU & EFTA & UK: 2.2 million, -4%
USA & Canada: 1.3 million, +10%
Rest of World: 0.9 million, +25%
This record-breaking month of EV sales brings new hope to the industry. While the electrification of transport seems inevitable, the recent slowdown of sales in many parts of the world has sown seeds of doubt which can now start to be swept aside. However, the regional disparities are astonishing, with China alone accounting for well over half the global total, meanwhile Europe’s numbers are shrinking and the US and Canada are steadily growing.
—Rho Motion Data Manager, Charles Lester
More than 300,00 EVs were sold in EU & EFTA & UK in September 2024, reaching a total of 2.2 million units sold for the year. Battery Electric Vehicle (BEV) sales increased year-on-year by 12%, however, Plug-in Hybrid Electric Vehicle (PHEV) sales are down year-on-year by 12% (comparing September 2024 sales vs September 2023).
Vehicle sales in the UK are typically strong in September due to new registration plates, with September 2024 EV sales being no exception as EV sales more than tripled from the previous month. The Norwegian market continues to have extremely high EV penetration rates, but the market in terms of volumes is still down by 4% YTD. The German market grew y-o-y by 7% but YTD sales are still down by 20%.
China had another record month. After surpassing 1 million EV sales for the first time in August 2024, this feat was achieved once again in September 2024 with 1.1 million units sold.
Chinese manufacturers continue to grow their presence abroad with strong EV exports to other Asian countries and Latin America. BEV exports from China to the EU will now face tariffs, agreed on 4 October 2024 and set to come into force in November 2024 for five years. Despite this, many manufacturers will be able to absorb some of the cost, and manufacturers are also looking to establish EV facilities within Europe—BYD, for example.
The US & Canada market continues to grow at a steady pace of 10% YTD. GM sold almost 10,000 Chevrolet Equinox in Q3 2024 and has produced more than 40,000 in the opening 8 months of the year. GM also started sales of the Sierra EV and Volvo started sales of the EX30. Toyota pushed back the start date of its facility in the US, with other OEMS, such as Ford and Vinfast, pushing back plans earlier in the year.
People would do well to read this article before proclaiming that the BEV market is faltering.
The only market that is down is Germany, and that's because of taxation changes. The CEO of VW spoke at the Paris Motor Show this weekend to condemn the German government's lack of consistent policies, as did the CEO of Stellantis (Opel being their German brand).
Roger (if you are reading this), note that plug-ins are down. Customers have figured-out that it's a lot less trouble to charge a BEV once a week than to charge a more expensive PHEV every day.
Posted by: Bernard | 15 October 2024 at 05:55 AM
Two thirds of EV sales are in China. With all its coal fired power stations. They make most of the batteries and control most of the raw material supply chain. The RoW is at their mercy. They are all set to control the Motor Vehicle Industry of the 21st century, as the USA did in the 20th. This is not a cause for celebration. The RoW had better find a better battery or technology than lithium – fast.
Why don't we want EVs in the US and Europe? The pain of charging. CleanTechnica the other day: 30% of attempts to charge an EV in California fail. From “The Guardian”, 5 October: “Four years after buying an electric car, why am I still forced to play hunt-the-charger? Ros Coward.
“In our “approaching the end of finance agreement” conversation with the dealership, we learn that we are not alone. “We took it for granted,” says the dealer “that you were coming to look at a hybrid. Everybody else is.”
“What about the finances? The car we bought, although basic, was way over the price for an equivalent petrol car. Crucially, our purchase looks like a bad buy because the value of secondhand electric cars has crashed. Having anticipated that the car would easily hold its value because of increasing demand, we owe the finance company more than our EV is worth – fortunately, we can hand back the car. “
“Fairly early on there was a big problem getting spare parts, which were costly and subject to long delays. The situation has improved but damaged EVs’ reputation. “
Posted by: Emphyrio | 15 October 2024 at 07:20 AM
Emphyro,
I remember hearing the same unfounded fears about Japanese cars when I was a young child. At least you could buy a Japanese car at the time, you can hardly buy a Chinese EV in the US in 2024.
Batteries aren't just made in China. They also come from Europe, North America, Korea, etc.. Same with lithium: do you have a bias against Australian lithium, or Canadian lithium?
The resale value of Teslas crashed because the company cut their new-car prices. That's not an EV thing, it's a Tesla thing. Same with the spares situation, it's a Tesla problem. Other brands are available.
People keep claiming that Europeans or North Americans "don't want EVs," and yet their market share keeps increasing. Please re-read the article above.
I assume that you realize that what a car dealer tells you is 100% motivated by their desire to sell you a car today! If they had EVs in-stock they would sing a different tune... Everyone knows this.
Posted by: Bernard | 15 October 2024 at 11:15 AM
n September, a whopping 1.7 million BEVs and PHEVs were sold around the world, an increase of 30.5% year-over-year and 150,000 more units compared to the previous record set in December 2023.
They are counting PHEV as EV
Posted by: SJC | 15 October 2024 at 04:40 PM
SJC, the 1.7 million number is combined, but they mention that PHEV sales are down and BEV sales are up, at least in Europe. It would be good to see stats for other regions, of course.
Posted by: Bernard | 16 October 2024 at 04:54 AM
It looks like about a million hybrids sold in the US every year, 20 per cent are plug hybrids. Looks like about 1,000,000 EVs sold in the US every year, about twenty percent PHEV.
Posted by: SJC | 16 October 2024 at 07:26 PM