Global EV Sales Expected to Only Increase by 21% in 2024 as EV Market Cools, but Chargers and Range Aren't to Blame
NEW YORK, April 10, 2024 /PRNewswire/ -- The latest forecasts from global technology intelligence firm ABI Research find that global Electric Vehicle (EV) sales are expected to grow by 21% in 2024 and 19% in 2025. This represents a significant decline from growth rates of 31% in 2023 and 60% in 2022.
- "A shortage of chargers and limited ranges are not to blame for this decline.
- It's evident from sales data and statements by Original Equipment Manufacturers (OEMs) that the EV market is slowing down and failing to meet its targets.
- Additionally, these explanations fail to consider the region-specific trends driving the EV sector changes," says Dylan Khoo, Electric Vehicles Industry Analyst.
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