In 2024, global electric vehicle sales (including fully electric and plug-in hybrids) reached approximately 17.1 million units, representing a 25% increase compared to the previous year (Reuters, 2025). This growth was primarily driven by China, which recorded 11 million sales, accounting for about 65% of the global total (Reuters, 2025).
In terms of market share, electric vehicles accounted for 18% of global car sales in 2024, up from 14% in 2023 (Wikipedia, 2025). This indicates a growing trend toward electric vehicle adoption worldwide.
Electric car sales are growing exponentially, although with significant regional differences. While these vehicles dominate the market in some countries, they still face substantial barriers in others. What is the current situation? What types of vehicles are selling the most? Which brands lead the sector? Join us in this detailed analysis.
Understanding the Graph and EV Sales
To better understand this graph and the sales of electric and derivative vehicles, we need to clarify the meaning of the abbreviations.
Let’s start with the technical name for a non-electric car, the traditional vehicle: ICE (Internal Combustion Engine), referring to cars powered by internal combustion engines (Diariomotor, n.d.).
But now… BEV, HEV, PHEV, MHEV, FCEV… What do they mean?
To better understand the electric vehicle market, we first need to know its terminology (HÃbridos y Eléctricos, n.d.):
- BEV (Battery Electric Vehicle): Fully electric vehicles powered exclusively by batteries.
- HEV (Hybrid Electric Vehicle): Conventional hybrids that combine a combustion engine with an electric motor.
- PHEV (Plug-in Hybrid Electric Vehicle): Plug-in hybrids with extended electric range.
- FCEV (Fuel Cell Electric Vehicle): Hydrogen fuel cell vehicles.
- MHEV (Mild-hybrid Electric Vehicle): Mild hybrids with a 48V system supporting the main engine.
- E-REV (Extended Range Electric Vehicle): Electric vehicles with extended range thanks to an internal combustion generator.
How Many Have Been Sold? What Is the Forecast?
In 2024, more than half of the cars sold were ICE, while 13% were fully electric (EV), followed by hybrids (HV) and plug-in hybrids (PHEV) (Marklines, 2024). Electric car growth has been exponential, with the highest sales peak recorded in December 2024. However, market penetration varies by region.
Which Countries and Brands Lead the Market?
The countries with the highest adoption of electric vehicles are Norway and Sweden, followed by China, Finland, the United Kingdom, and Germany. The United States ranks 9th (Marklines, 2024).
Regarding manufacturers, BYD leads sales with 244,000 units, followed by Geely (138,000 units) and Tesla (84,000 units). Volkswagen Group ranks fourth with 64,000 units (Marklines, 2024).
U.S. and China vs. Europe: Who Leads Electrification?
While electric vehicle sales in China grew by 30% and in the U.S. by 20%, Europe’s growth barely reached 1% in the first half of 2024. This reflects a slowdown in the European market compared to the momentum in Asia and North America (Motorpasion, 2024).
In upcoming articles, we will specifically analyze electric vehicle sales and their derivatives in the U.S., China, and Europe. STAY STUNED! 😉
To finalize… What to Expect in the Coming Years?
Based on the MarkLines graph, we can observe a clear growth trend in the adoption of electrified vehicles over the coming years.
The share of ICE vehicles, the traditional ones, is expected to decline significantly, representing a minimal portion of the market by 2035.
BEV adoption is showing steady growth, becoming the dominant technology starting in the 2030s. This indicates a clear transition toward fully electric mobility.
Hybrids, especially plug-in hybrids (PHEV) and mild hybrids (MHEV), will continue to play a significant role in the transition to full electrification, though their market share will eventually decline in favor of BEVs.
Although their growth is slower than BEVs, FCEVs maintain an upward trend, especially toward 2035, suggesting that hydrogen could become a viable alternative in specific segments, such as commercial or long-haul vehicles.
The coexistence of multiple technologies until at least 2035 suggests that the market will adapt to different needs and regional regulations before a full BEV adoption.
In summary, the electrification of the automotive industry is unstoppable, with BEVs leading the shift, hybrids as transitional solutions, and an uncertain future for FCEVs.
References
Diariomotor. (n.d.). ICE: Internal Combustion Engine. Retrieved from Diariomotor
HÃbridos y Eléctricos. (n.d.). Meaning of Electric Car Abbreviations. Retrieved from HÃbridos y Eléctricos
Marklines. (2024). Electric Car Sales by Region and Brand.
Motorpasion. (2024, August 8). The U.S. and China Keep Increasing EV Sales While Europe Faces Negative Growth. Retrieved from Motorpasion
(2025, January 14). Global Electric Vehicle Sales Up 25% in Record 2024. Retrieved from Reuters
Wikipedia. (2025). Voiture électrique. Retrieved from Wikipedia
