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Global Plugin Vehicle Registrations Up 3% in February 2024

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Global,Plugin Vehicle Registrations,February 2024

Global plugin vehicle registrations increased by 3% in February 2024 compared to the same month in 2023. Despite a 6% decrease in BEV registrations, the overall market remains strong. The Chinese New Year celebrations in February impacted the EV market. Full electric vehicles accounted for 64% of plugin registrations in February.

Global plugin vehicle registrations were up 3% in February 2024 compared to February 2023. There were 830,000 registrations, making it possibly the last month with fewer than one million sales per month ever for plugin electric vehicles. BEVs were down by 6% YoY, but there’s no reason to sound the alarm, as this had more to do with the Chinese New Year celebrations happening in February, thus slowing down the largest EV market in the world, than anything else.

In the end, plugins represented 13% share of the overall auto market (8% BEV share alone). This means that the global automotive market remains in th

 

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