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Electric car sales are ramping up across Asia and Latin America

This video is part of: Centre for Urban Transformation

If you wondered where electric cars were gaining ground quickest, here’s the answer. In Latin America, Africa and Asia (excluding China) sales grew by more than 60% in 2024, hitting 4% of overall new car sales in those markets, up from 2.5% in 2023. The rate of growth is significant but it’s up from a low base.

Electric vehicle (EV) adoption is picking up speed in regions like Asia (excluding China), Latin America, and Africa. In 2024, these markets saw sales surge by over 60%, pushing EVs to 4% of all new car sales, up from 2.5% in 2023. Africa saw the highest growth rate, more than doubling sales, though EVs still account for just 1% of its new car market.

Together, the three regions sold around 600,000 electric cars in 2024, the same volume Europe reached five years earlier. These figures signal strong momentum, even though they’re climbing from relatively low baselines.

Global growth slows in mature electric vehicle markets

While emerging markets accelerate, EV growth is beginning to slow in more established regions. China continues to dominate, producing 70% of the world’s electric cars and accounting for two-thirds of global sales. Half of China’s new car sales are now electric.

In contrast, Europe has seen EV growth stall in 2025 due to reduced subsidies, rising prices and saturation among early adopters. The US market grew just 10% in 2024, a marked drop from 40% growth in 2023. Still, global EV sales reached 17 million in 2024, 20% of all new car sales. The IEA expects that to rise to 25% in 2025.