Global sales of electric cars are on track to surpass 20 million in 2025, accounting for over a quarter of cars sold worldwide, according to the latest IEA Global EV Outlook.
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The report shows global sales of electric cars have continued to break records as electric models become increasingly affordable. Sales exceeded 17 million globally in 2024, putting EVs’ share of the global car market above 20% for the first time, as forecasted by the IEA previously. And in the first three months of 2025, electric car sales were up 35% year-on-year.
China maintains its position as the EV market leader, with electric cars accounting for almost half of all car sales in 2024. The number of electric cars sold in China last year (more than 11 million) is equivalent to the total sold worldwide in 2022. Emerging markets in Asia and Latin America have also become new centres of growth, with total electric car sales across these regions surging by more than 60% in 2024.
In the United States, electric car sales grew by about 10% year-on-year, reaching more than one in 10 cars sold. Europe saw sales stagnate as subsidy schemes and other supportive policies waned, though the market share of electric cars remained around 20%.
“Our data shows that, despite significant uncertainties, electric cars remain on a strong growth trajectory globally. Sales continue to set new records, with major implications for the international auto industry,” IEA executive director Fatih Birol said.
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“This year, we expect more than one in four cars sold worldwide to be electric, with growth accelerating in many emerging economies. By the end of this decade, it is set to be more than two in five cars as EVs become increasingly affordable.”
