2024 Electric vehicles reach record sales in the US and Europe

This is an extremely positive signal for electric vehicles in Europe and the US, after booming in China.

According to the latest statistics from JATO Dynamics, the pure electric vehicle (BEV) market share in the US has reached 5.1% in the first 10 months of this year. Although still small compared to traditional internal combustion engine cars, this is impressive sales growth compared to previous years. Specifically, in the same period last year, pure electric vehicles only accounted for 2.9% of the market share in the US.

In the same period in 2020, electric vehicles accounted for only 1.7% of total new car consumption. and in the same period in 2019, the market share was 1.3%. The success of the Tesla Model Y along with the optimistic start of electric pickup trucks, such as the GMC Hummer EV and Ford F-150 Lightning, are said to be partly responsible for the rapid market share expansion. .

This trend will likely continue next year, with the launch of more affordable electric SUVs and pickup trucks. The important thing is that Americans like these types of cars.

However, the US market still lags behind Europe in electric vehicle consumption. According to JATO Dynamics statistics taken from 23 European markets, electric vehicles accounted for 12% of new car consumption in the first 10 months of this year. This ratio is equivalent to 1.09 million vehicles out of a total of 9.09 million vehicles in the entire market. The number will increase to 1.86 million if plug-in hybrid electric vehicles (PHEVs) are included.

Electric cars achieve record sales in the US and Europe, a promised land for VinFast - 1

According to statistics, more than 1 in every 10 cars in Europe is an electric vehicle (Photo: Shutterstock).

The total number of electric vehicles in Europe is 1.9 times higher than in the US. The gap has narrowed quite a lot since 2020. That year, the number of new electric vehicles registered in Europe was 2.5 times higher than in the US. This ratio decreased to 2.4 times in the first 10 months of 2021.