Just stating some facts
Cox Automotive forecasts EV sales in the U.S. to increase year over year in 2024, making this year the best year ever for EV sales. Analysts expect EV sales to reach roughly 10% of the market by the end of the year, up from 7.3% in the first quarter.
The latest Outlook, published today, finds that global electric car sales are set to remain robust in 2024, reaching around 17 million by the end of the year.
More than 1 in 5 cars sold globally this year is expected to be electric, with surging demand projected over the next decade, says a new International Energy Agency (IEA) report.
Rising EV sales are set to remake the global auto industry and significantly reduce oil consumption for road transport, according to the new edition of the IEA's
annual Global EV Outlook, released today.
The latest IEA
Outlook report asserts that global EV sales are set to remain "robust" in 2024, reaching around 17 million by the end of the year. In Q1, sales grew by about 25% year-over-year similar to the growth rate seen in the same period a year earlier but from a larger base. The number of EVs sold globally in Q1 2024 is roughly equivalent to that in all of 2020.
The narrative that EV sales going in 2024 is just wrong. Just because legacy can't compete and throwing in the towel doesn't mean EVs are losing favor.