Following another year of robust growth, 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 new edition of the International Energy Agency’s annual Global EV Outlook.
The report, out on Wednesday, shows that despite recent economic headwinds that have put pressure on the auto sector, 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 International Energy Agency(IEA) previously. And in the first three months of 2025, electric car sales were up 35% year-on-year. All major markets, and many others, saw new records for first-quarter sales.
In emerging and developing economies in Asia, Latin America and Africa, electric car sales increased by over 60% year-on-year in 2024. This rapid growth has been strengthened by policy incentives and the growing presence of relatively affordable electric cars from Chinese manufacturers. In Africa, local policies and changing trade regimes are reshaping the electric car market. Developments such as the ban on imports of petrol and diesel cars introduced in Ethiopia at the start of 2024 have resulted in a reported deployment of 100 000 electric cars.
“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,” said Fatih Birol, Executive Director, International Energy Agency. “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.”
“South Africa’s EV market has seen year-on-year growth in sales over recent years, with expanded model offerings being introduced every quarter”, said Hiten Parmar, Executive Director, The Electric Mission. “Public charging infrastructure has also expanded across the country, by multiple service providers, which manages the associated risks of sole operators across a national network”. South Africa’s automotive manufacturing industry is yet to start manufacturing battery electric vehicles, as the country’s primary markets of exports as the European Union and United Kingdom, start phasing out fossil based vehicles from 2035 and 2030 respectively. “Governments across Africa need to implement Fuel Efficiency Standards and Vehicle Emissions Standards in supporting the transition to new energy vehicles, or else Africa risks being a market of exponentially increasing emissions across the transport sector from intensive fossil-fuel based technologies” said Parmar.
The report also includes a special focus on electric trucks and their ownership costs. It finds that globally, electric truck sales increased by around 80% last year, accounting for close to 2% of all truck sales worldwide.
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