NEV Sales Increase 16.9% in the First Quarter of 2024 While PHEV Sales Surge Nearly 50%, Says TrendForce
Notably, this is the first time in three years that the YoY growth rate of quarterly global NEV sales has dipped below 20%.
- Notably, this is the first time in three years that the YoY growth rate of quarterly global NEV sales has dipped below 20%.
- BEV sales reached 1.8 million units, up 4.2% YoY, while PHEV sales skyrocketed 48.3% to 1.041 million units.
- In the BEV segment, Tesla held its crown with a 21.5% market share, despite a YoY growth rate of -8.5%.
- This pivot could revive PHEV sales in Western Europe, following two years of decline, and drive growth through 2024.