Ann: Operational Update, page-116

Global EV sales hit record high in Q2 2024: New AutoMotive - Motor Finance Online

An excerpt from the article linked above - dated 24th July:

"Global electric vehicle (EV) sales reached an all-time high in the second quarter of 2024, with a 19% increase from the first quarter, according to New AutoMotive’s Global Electric Vehicle Tracker. Nearly 2.6 million EVs have been sold globally since May 2024, with China’s domestic market driving much of this growth.

In China, petrol and diesel vehicle sales have been declining for five consecutive months, with a 20% decrease in June compared to the same month last year. This trend suggests that internal combustion engine (ICE) vehicles could become obsolete by 2028.

The US also experienced significant growth, with Q2 sales up 12% from Q1. Over 1.15 million EVs were sold in the US in the year to June, an increase of 200,000 from the previous 12 months.

In Europe, tariffs on Chinese EVs have not yet affected the market, with 80% of EU countries seeing an increase in EV sales between May and June. Despite policy challenges, both Germany and the UK reported their highest EV market shares since December 2023, with EV sales in June accounting for 15% and 19% of their respective markets."