[OEM] Global market for BEVs and PHEVs grew by 25%

출처 : BatteryIndustry (2025.1.17)

출처 : BatteryIndustry

According to a report by the market research institute Rho Motion, 17.1 million passenger cars and light commercial vehicles with electric or plug-in hybrid drive systems were sold worldwide in 2024, 25 per cent more than in 2023. However, regional differences have become greater.

The data from Rho Motion demonstrates that there were four consecutive monthly records in the number of electric and plug-in hybrid (BEV and PHEV) registrations worldwide between September and December, resulting in full-year market growth of 25 per cent to 17.1 million units. On average, 1.4 million BEVs and PHEVs were added globally every month last year. December was one of the strongest months with an above-average 1.9 million units.

The analysts at Rho Motion are based in the UK and describe their employer as a market research company specialising in electric vehicles. The company’s statistics include both passenger cars and light commercial vehicles (originally: light duty trucks), which in the US market often include SUVs and pickups, for example. Rho Motion does not differentiate between BEVs and PHEVs, so only all externally chargeable vehicles are shown together. Models with a range extender (EREV) also fall under this definition and are included in the group of plug-in hybrids.

This brings us to the geographical differences in the eMobility market dynamics: the study makers predict a decline of -3 per cent for the European market in 2024 compared to 2023. The US and Canadian markets together grew by 9 per cent. In China, sales of BEVs and PHEVs rose by 40 per cent in 2024, with a new monthly sales record of over 1.3 million vehicles sold in December. Global growth in December totalled a good 1.9 million units. This comparison alone shows that China remains the undisputed leading market for (partially) electric cars and light commercial vehicles. According to the analysts, the ‘rest of the world’ accounted for 1.3 million BEVs and PHEVs sold, an increase of 27% compared to 2023.

As Charles Lester, Data Manager at Rho Motion, points out, the global market is booming, but “regional differences have also widened.” Government incentives and targets are likely to play a role: “In N. America, the 9% growth can mostly be attributed to consumer subsidies and over in the UK, the ZEV mandate has highly incentivised manufacturers to push their low-emission cars,” says Lester. The removal of subsidies in Germany, on the other hand, “had a devastating impact on the whole European market, if the US follows suit, we may see the same there.”

In its analysis, Rho Motion zooms in closely on the three main market regions of Europe, North America and China. For the European figures, the study summarises the 27 EU states, the EFTA states of Iceland, Liechtenstein, Norway and Switzerland, as well as the UK. The study estimates that 3 million BEVs and PHEVs will be sold in 2024, which means a stagnating market (-3%). December was again above average with a good 300,000 units (+12% compared to November 2024, +1% YoY).

According to Rho Motion, the British market recorded the most sales of battery-electric vehicles with over 400,000 units, surpassing Germany. A detailed comparison of the two countries can be found here. The slightly different figures result from the breakdown (passenger cars and light commercial vehicles) chosen by the analysts. However, the message remains the same: the German market for BEVs declined significantly in 2024, while the British market for electric cars grew by 20 per cent due to the regulatory ZEV mandate. Regardless of this, Norway still has the highest market penetration in the world (89% BEV share in 2024).

There is also no doubt that China remains the driver of electric mobility and was also largely responsible for global growth in 2024. The Rho Motion statistics show 11 million new BEVs and PHEVs, which corresponds to an increase of 40 per cent. Almost two-thirds (64%) of all new (partially) electric cars worldwide were therefore registered in China. You can read our special report on the annual figures for China here.

As the study authors write, PHEVs accounted for a large part of the growth in China in 2024, with growth of 81 per cent, compared to BEV growth of 19 per cent. “The rise in demand for range-extender electric vehicles (REEVs) has played a significant role in the growth of PHEVs in China, a technology that has yet to come to Western markets in mass,” the report states. What’s more, the Chinese market benefited from a scrappage scheme that was doubled in July 2024 and has since been extended to 2025.

According to the analysts, the USA and Canada recorded 1.8 million BEVs and PHEVs, which corresponds to a growth rate of 9 per cent. December was the strongest month with over 185,000 electric vehicles sold. You can read an analysis of the annual figures for the USA here. Looking ahead to the current year, Rho Motion notes that the inauguration of US President-elect Trump could have significant consequences for the electric car market in the United States if, as feared, Trump cuts subsidies and softens emissions standards.