Global auto sales in the first half of 2024 reached 43.3 million units, marking a 3.3% year-over-year increase. However, growth slowed in the second quarter as backlogged orders were cleared.
Electric vehicle (EV) sales for the first half of the year totaled 7.18 million units, a 21.6% rise compared to the same period in 2023, with China experiencing an impressive 33.5% growth. For 2024, global vehicle sales are projected to increase by only 2%, reaching 90.9 million units, due to weakened demand and the effects of high interest rates.
Global EV sales are expected to total 17.19 million units in 2024, representing a 23.8% year-over-year increase. In China, the EV penetration rate is forecast to exceed 43%, maintaining strong growth momentum, according to data from DIGITIMES Research based on statistics from national automobile associations and automakers.
Table 1: Auto sales in major regions and markets, 1H24 (units)
Table 3: Auto sales in major regions and markets, 2024 (units)
Table 4: EV sales in major regions and markets, 1H24 (units)
Chart 3: EV penetration rates of major regions amd markets, 1H23 and 1H24
Chart 4: BEV and PHEV sales of major regions and markets, 1H24 (units)
Chart 5: BEV and PHEV sales shares of major regions and markets, 1H23-1H24
Table 5: EV sales in major regions and markets, 2024 (units)
Chart 6: EV penetration rates of major regions amd markets, 2023 and 2024
