Global EV Sales Hit 4 Million in Q1 2024; China Accounts for Nearly Half but Sees Year-on-Year Decline

In the first quarter of 2024, global electric vehicle (EV) sales totaled 4 million units, down 3% year-over-year. March alone accounted for 1.75 million units, representing 44% of total quarterly sales—an increase of 3% year-over-year and 66% month-over-month. China remained the world’s largest EV market, with first-quarter sales of 1.9 million units, despite a 21% year-over-year decline. Europe ranked second, with sales of 1.2 million units, up 27% year-over-year. North America saw sales of 320,000 units, down 27% year-over-year. Sales in other regions combined reached 600,000 units, surging 79% year-over-year—led by New Zealand, where battery-electric vehicle sales doubled, and Australia, which posted a 111% year-over-year increase.