In the first month of 2024, global electric vehicle sales continued to break records with more than 1 million vehicles sold, an increase of 69% over the same period last year.
This is data given by market research firm Rho Motion. Accordingly, in January last year, global electric vehicle sales reached a record of 660,000 vehicles, but now, after 12 months, this number has reached more than 1 million vehicles, recording a new growth milestone for the market. global electric cars.
Accordingly, in Europe, electric vehicle sales increased by 29% compared to last year. Specifically, in Germany sales increased by 40%, although affected by reduced subsidies; In France, the number of electric cars sold will also increase by 20% compared to 2023.
For 2023 as a whole, electric vehicle sales in the United States increased more than 50%, and the domestic market saw 41% year-over-year growth in January.
In China, this number nearly doubled. In 2023, China accounts for nearly 60% of total global electric vehicle sales. Thanks to strong government subsidies and other financial incentives for the electric car industry, China's electric vehicles have the highest market penetration rate of anywhere in the world. By the end of 2023, electric vehicles have accounted for about 1/6 of the automobile market in this country of billions of people.
In Southeast Asia, the electric vehicle market is also having an impressive breakthrough. It is estimated that electric car sales in the region could reach 8.5 million vehicles by 2035 with expected revenue of about 80 - 100 billion USD.
The electric vehicle market in Southeast Asia currently accounts for only 2% of the global market share. However, experts predict that Indonesia, Thailand, Vietnam, Malaysia, the Philippines and Singapore will have a compound annual growth rate of between 16 - 39% in the period 2021 - 2035. According to research, when Awareness and acceptance of electric vehicles is increasing in the Southeast Asian market, with continued expansion of charging stations, product research and development centers, and government incentives. infrastructure through policies and incentives, consumer purchasing power for electric vehicles will increase further.
