EV Market 2024 Recap: Best Sellers, Statistics, and Outlook

Two things you could count on in 2024: headlines declaring that sales of electric vehicles are shrinking and data that says otherwise.

In fact, global sales of zero-emissions vehicles (ZEVs) reached new heights, including record growth in Canada and all-time-high total sales in the United States.

In Canada, ZEVs steadily increased their market share throughout 2024, hitting 15.4% of all new vehicle registrations by year-end, according to S&P Global Mobility.

That’s a significant gain from 3.1% in 2019, when Transport Canada introduced the Incentives for Zero-Emission Vehicles Program.

Quebec remains the leader in EV adoption, with a ZEV penetration rate of 42.0% in Q4 2024. The province now accounts for 60.0% of all ZEV registrations nationwide.

British Columbia followed at 22.5%, while Ontario reached 9.6%.

Best-Selling EVs in Canada in 2024

Cox Automotive’s Kelley Blue Book estimates that total EV sales in the United States reached a record 1.3 million by the end of 2024, up 7.3% from 2023 and representing 8% of all total new vehicles sold.

California remains the state with the most ZEVs, which make up one in four of its new vehicle registrations. A total of 443,374 ZEVs were registered in the Golden State in 2024, of which 378,910 were all-electric.

Best-Selling EVs in the U.S. in 2024

Globally, more than 17 million all-electric and plug-in hybrid vehicles were sold in 2024, up 25% from 2023, according to research firm Rho Motion.

China was the undisputed champ in overall sales and growth with 11 million ZEV sold—a whopping 40% increase over 2023.

Europe finished 2024 down 3% year-over-year, impacted largely by the removal of EV subsidies in Germany.

However, the UK saw nearly 20% growth, driven by its ZEV mandate. Norway remains the world leader in EV adoption, with 90% of new passenger car sales being electric by the end of 2024.

Luckily, things aren’t slowing down—in January 2025 alone, 1.3 million EVs were sold globally, marking an 18% year-over-year increase, despite a 35% drop from December’s record-breaking numbers.

Despite record-breaking global EV sales, one of the world’s largest EV producers, Tesla, has seen a sharp decline in key markets at the start of 2025, particularly in Europe and China.

The European Automobile Manufacturers’ Association (ACEA) reported that Tesla’s January 2025 sales across Europe totaled just 9,945 units, marking a 45% year-over-year decline.

In China, Tesla has so far sold 93,926 vehicles in 2025, reflecting a 28.74% decline compared to the same period in 2024. While the Chinese New Year holiday impacted sales, competitors like BYD, XPENG, and NIO saw significant growth.

Despite setbacks, most experts remain cautiously optimistic that EV adoption will keep up the pace in Canada and the United States.

A Plug In America survey of EV drivers found that 89% would choose to purchase an EV again, and a recent CAA survey had similar results, with 87% of EV drivers responding that they are likely to purchase an EV again.