EV Sales Surge in Europe and U.S. in March, with U.S. Exceeding 100,000 Units

Rising gasoline and diesel prices, driven by persistently high international oil prices since March, have prompted more consumers to switch to electric vehicles (EVs). According to market research data, global EV sales reached 1.75 million units in March 2024, up 66% month-over-month and 3% year-over-year. In Europe, EV sales surged 72% month-over-month and 37% year-over-year in March, with both battery-electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) hitting record highs. The UK saw a 31% year-over-year increase in sales, France recorded a 69% rise, and countries including Austria, Belgium, Italy, Portugal, and Spain also set new monthly sales records. In the United States, EV sales exceeded 100,000 units in March—the highest monthly figure since the federal EV tax credit policy was revised at the end of the third quarter of 2023.