Slowing, stalling, falling and growing - the transition from ICE to EVs in 2 charts

Is consumer demand for EVs fading? r is the automotive sector in such crisis that only being able to sell petrol and diesel cars for a few more years can save it?

It’s neither. Let’s debunk this. 

Here’s the data from our latest Global EV Tracker webinar, which includes sales figures from more than 40 countries, accounting for more than 85% of car sales. 

We counted 3.97 million EV sales in Q3 of 2024, up 12.5% on Q3 of 2023. EV sales aren’t stalling.

And we counted 12.1 million sales of all other vehicles (petrol, diesel, hybrid, LPG, hydrogen, flying carpets) in the most recent quarter, down 7.9% in the same quarter last year. 

But overall sales are down 3.6% - less than half the fall in sales of non-electric cars. This isn’t an automotive crisis. It’s a transition from legacy fuels to battery transport. 

There is of course a crisis for the makers trying to sell the EVs that people don’t want, at a price they’re not willing to pay. But the pain for makers selling the right EVs at the right price? There isn’t any. 

[Yes, we’re including plug-ins as EVs. We’ve tended to see these as only an interim solution to decarbonisation, but the emerging PHEVs have longer range than ever before - an average of 90km, or 56 miles in China, 80km elsewhere - and in the hands of a consumer who is willing to keep the battery charged - to offer a great driving experience, save on running costs, and drastically reduce oil demand, air pollution and greenhouse gas emissions.]