EV sales in worldwide register significant growth in April 2024, despite claim of sales-slump from some media outlet and few legacy automakers. Earlier there were claims that electric vehicle sales are declining in Europe.
Digging deeper into the state of EV sales in Europe
As per the report, electric vehicle registrations in the European market surged 15% to 108,552 units in April 2024.
In France, EV sales witnessed a whopping 45% increase. In Belgium, sales growth reached 42%. Their market share is reportedly about 12%.
In this sense, more than one in every ten vehicle sales in the European market in April 2024 were battery-electric vehicles.
Critics may argue that this remarkable EV sales growth in Europe does not mean anything, as it only indicates April 2024 data. However, the report claim otherwise.
EV sales reportedly surged by 6.5% this year from January through April 2024. While this is not a very high increase, it is still a growth indicator.
EV market still booming despite industry claims
The electric vehicle market indeed continues to expand despite the apparent slowdown early this year.
As the report noted, the United States witnessed a 3% electric vehicle sales growth in April 2024.
In Europe, EV sales grew by a remarkable 15% in the same period. So far this year, EVs sold a total of 442,000 units in the EU alone.
The sales increase was even higher in the Chinese market last month. According to Reuters, new energy vehicle sales grew 33% year-on-year to 800,000 units in April 2024. Of that total, battery-electric vehicles accounted for around 519,000 units.
Resistance to change
As noted in the report, people may find moving on from the non-electric vehicle era hard. It only demonstrates their resistance to change.
For instance, New York’s transportation sector used to be dominated by horses. However, after only ten years, it shifted to cars.
EV adoption indeed happened very fast. Now, the downshift seems just the mere slow part in the S curve.
All these considered, the electric vehicle market is still booming despite some industry players claiming a sales slowdown. Legacy automakers are probably trying to downplay the EV market, potentially enabling them to continue selling their money-making ICE models.
