[RahulNagaraj]

According to a new study, sales of electric vehicles are predicted to hit 15.1 million units globally next year - making up 16.7% of the total global new car sales. The study estimates that BEV sales in 2024 will close at around 11.6 million units - predicting almost 30% year-on-year growth in 2025.



The S&P Global Mobility study states that growth will vary between regions, influenced by government policy, tariffs, incentives and charging infrastructure.

Looking at specific regions, the study showed EVs will account for only 7.5% of the total car sales in India, despite a 117% year-on-year growth. In the US, EVs will grow by 36% but will occupy an 11.2% market share. However, in China, EVs are expected to outsell ICE-powered cars for the first time - 10 years ahead of schedule. BEVs in central & western Europe are expected to control 20.4% market share and have a 43.4% year-on-year growth in sales.

Source: S&P Global Mobility

Link to Team-BHP news

[khanak]

Those US numbers look overly optimistic considering the incoming administration.

[07CR]

I am not sure about other regions but India the growth certainly seems possible.

The Mahindra twins have garnered so much interest that I check the team bhp review page of both cars atleast once. I am sure there are more people like me.

Then there's the creta and grand vitara EV from the car makers with the widest sales and service network in India. Considering these two would also be from the car makers where reliability is almost a given, I am sure we are going to see good numbers for these as well (if Mahindra twins don't cannibalize them !).

I am also curious to see what more MG can offer after the Windsor. Its afterall the manufacturer with more EV sales than ICE and someone who single handedly threatened total Tata EV sales in last month's of 2024 with just a single EV !

Exciting times for EV fence sitters like me.

[Sentau]

Originally Posted by khanak

Those US numbers look overly optimistic considering the incoming administration.

Actually, I think that the US numbers are within the realm of possibility. The politics and policies in the US are very partisan at the moment so I still expect the democratic states (especially California) to push heavily for EV adoption, irrespective of what the federal government does, resulting in increasing EV adoption. The republican states do not contribute much to EV adoption so they will not affect the percentages anyway. In fact, I think Trump's strong endorsement of and involvement with Musk might push some conservatives to buy a Tesla to show their 'solidarity'..



The figures provided for the predicted growth in India are also very probable. Consumer 4W EVs in India are in their infancy with very little market penetration when compared to the market share EVs have garnered in the other major countries (US, Europe, China) part of the study. This gives us the most scope to grow with regard to EV adoption. Add in the fact that a lot of high-quality, mass-market EVs are going to be launched this year by Mahindra, MSIL, Hyundai, etc. and we could be in for a bumper year for EV adoption