United States (U.S.) sales of electric vehicles (EVs) have surpassed European sales for the first time, where American buyers purchased more EVs than European buyers in Q3 2024.

According to data analytics firm New AutoMotive, buyers from the U.S. bought a record 344,000 EVs in Q3 2024. This milestone is particularly noteworthy given Europe’s historically stronger embrace of EVs. 

With its larger overall automotive market, the U.S. sells around 3 million more vehicles annually than the EU and it has finally overcome what experts described as initial buyer resistance to EV adoption.

“The US market is just getting started for broader EV adoption,” stated Ben Nelmes, CEO of New AutoMotive. “Meanwhile, Europe risks losing its position in the race to electrify transport as sales growth lags and policymakers consider rolling back emissions regulations.”

While several European nations continue to show robust growth in EV adoption, with countries like Hungary, Netherlands, and Spain reporting over 50% year-over-year increases, Germany has become a significant drag on overall European performance. German EV registrations declined by 28.6% in September, according to the European Automobile Manufacturers’ Association.

Traditional European automakers are facing mounting challenges. Mercedes-Benz reported a 31% drop in EV sales compared to the previous year, while Volkswagen is contemplating historic plant closures due to waning demand and cost pressures. However, BMW and Volvo have emerged as bright spots in the European market, while Tesla’s Model Y remains the continent’s best-selling EV.

The American EV market’s growth has been driven by several factors, including Tesla’s continued dominance and traditional automakers’ expanding electric offerings. Tesla’s sales rebounded in Q3, boosted by anticipation of the Cybertruck and the refreshed Model 3. GM has also made significant strides with new models like the Chevrolet Equinox EV and Cadillac LYRIQ.

Globally, the EV market continues to expand, with sales reaching 1.05 million units in September alone, representing 18.6% of global market share. Year-to-date sales have surpassed 10.6 million units, highlighting the increasing mainstream acceptance of electric vehicles worldwide.

China remains a crucial market, where BYD has established a commanding lead, selling nearly twice as many EVs as Tesla. The Chinese market is also experiencing a rapid decline in internal combustion engine (ICE) vehicle sales, which dropped 18% in September and now represent just 54% of the market.

The future of EV adoption in Europe may depend on how traditional automakers navigate their current challenges and how regulatory frameworks evolve, particularly regarding the proposed 2035 gas vehicle ban. While growth continues, the pace of adoption may be influenced by recent cuts in incentives and the introduction of new tariffs.

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Nevertheless, the path is dependent on whether Europe chooses a slow transition, or whether it stays on course while attracting jobs, growth, and investment in EV manufacturing and making it affordable in the automotive market.

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