Latin American Auto Industry

Global electric vehicle (EV) car sales totalled 17m in 2024, showing a blistering pace of growth on the preceding year. EVs made up almost half of total car sales; one in every ten Chinese cars on the road is now electric. Europe, on the other hand, saw something of a flattening-out of EV sales growth as various incentive schemes and subsidies began to be phased out. Despite ups and downs, EVs still held on to their market share at around 20%. In the US EV sales grew by 10%.