Global Surge in Electric Vehicle Sales Led by China: Electric vehicle (EV) sales worldwide grew by 14.3% in 2024,
reaching 10.4 million units, driven largely by the rapid expansion of the Chinese market.
According to PwC (PricewaterhouseCoopers), China accounted for nearly two-thirds of global sales, with 6.7 million vehicles sold.
Contents
Electric Vehicle
Durable Goods Orders
Global Surge in Electric Vehicle Sales Led by China
Electric vehicle sales worldwide grew by 14.3% in 2024,
reaching 10.4 million units, driven largely by the rapid expansion of the Chinese market.
According to PwC (PricewaterhouseCoopers), China accounted for nearly two-thirds of global sales, with 6.7 million vehicles sold.
In the United States, EV sales rose 7.4% to 1.2 million vehicles,
while the UK saw a 21% increase to 382,000 units.
In contrast, Germany experienced a 27% decline in sales,
down to 381,000 vehicles, due to the discontinuation of government subsidies for renewable energy vehicles.
The study highlighted that the decline in Germany negatively impacted EV sales growth across the European Union,
emphasizing the importance of supportive policies in promoting the adoption of electric vehicles.
Sharp Contraction in U.S. Durable Goods Orders in December
Data from the U.S. Census Bureau showed a 2.2% contraction in durable goods orders in December,
marking the worst performance since June and exceeding market expectations of a 0.3% decline.
This followed a 1.2% drop in November.
Meanwhile, core durable goods orders – which exclude transportation equipment – grew by 0.3%,
falling short of the 0.4% forecast after a 0.2% decline in November.
This indicator is one of the key measures of industrial activity and production,
reflecting the performance of the industrial economy.
Its results significantly impact the U.S. dollar’s trading,
positive data supports the currency, while negative data puts downward pressure on it.
Global Surge in Electric Vehicle Sales Led by China