Global Vehicle Sales

Total global car sales, 2024 to 2030

Global consumer car sales reached more than 81 million in 2024, which was a 3.5% increase Year over Year (YoY) compared to 2023. This comes after an 12% YoY sales growth in 2023, when the automotive supply chain started to normalize after the semiconductor shortage. 

Looking into the future, global vehicle sales will grow at a Compound Annual Growth Rate (CAGR) of 2% between 2025 and 2030 - totaling 91 million annual vehicle shipments by the decade's end. The year 2025 is expected to see about 83 million passenger car sales worldwide.

Global car sales by powertrain type

Our market forecast segmented car sales by the following powertrains:

• Battery Electric Vehicles (BEVs)
• Plug-In Hybrid Electric Vehicles (BHEVs)
• Others (Internal Combust Engine (ICE), fuel cell, etc.)

EVs are consistently enlarging their market share, accounting for 23% of total new consumer vehicle sales in 2024. Despite EV sales growing yearly at a healthy rate, other powertrains (ICE, fuel cell, etc.) still account for 77% of all car sales worldwide as of 2025. However, EVs are catching up and are expected to account for more nearly half (49%) of the automobile sales market by 2030. 

Asia-Pacific dominates EV sales ... for now

If you break down the 19 million global EV sales in 2025 by region, Asia-Pacific leads the way with a 68% market share. That equates to 12.6 million EV sales for the year. Asia-Pacific is followed by Western Europe (3.3 million EV sales), North America (1.8 million EV sales), and the Rest of the World (RoW) (930,000 EV sales). 

While Asia-Pacific makes up the vast majority of EV sales today, its market share is expected to diminish every year until it reaches 52%% in 2035. By then, Western Europe will be trailing closer, forecasted to constitute 22% (14.9 million shipments) of the EV sales market.

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Methodology

New Vehicle Sales: New vehicle sales are routinely published in the public domain by both Original Equipment Manufacturers (OEMs) and national motor manufacturer associations. The Organisation Internationale de Constructeurs d’Automobiles (OICA) represents multiple national motor manufacturer associations, collating sales reports to provide a global picture.

Monthly sales figures in key countries are used to extrapolate the likely sales performance by the end of the current year, leveraging Year-to-Date (YTD) figures to disentangle for seasonal variation.

Future new vehicle sales are forecast according to a number of factors:

• Expected economic growth
• Monetary policy/interest rates
• Subsidies/incentives
• Historical churn rates

Insights into the historical impact of fluctuations in these factors on vehicle shipments are leveraged to infer and forecast future vehicle shipments.