This report presents new car sales volumes (MarkLines aggregate data, excluding commercial vehicles; estimates are included) and analyzes sales trends of electric vehicles (BEV: battery electric vehicles / PHV: plug-in hybrid vehicles / FCV: fuel cell vehicles) in the global market in 15 countries, including 12 major countries, which account for approximately 83% of global car sales, and three Nordic countries (*Note).

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  12 major countries: China, U.S.A., Japan, India, Germany, France, Brazil, U.K., South Korea, Canada, Italy, Thailand

  3 Nordic countries: Norway, Sweden, Finland

  These 15 countries account for about 90% of global electric vehicle sales.

 (Note 1) Aggregated on May 21, 2024
              Some corrections have been made to past vehicle data.
              Thailand has been added to the total from January 2024.
              The sales volume (shipment volume) for China are aggregate figures excluding exports.

 (Note 2) Reasons for high electrification rates in Nordic countries
              1. The population’s environmental awareness has always been high.
              2. A high percentage of electricity is generated from renewable energy sources such as hydroelectric power and wind power (awareness of the need to use abundant renewable energy for electric vehicles).
              3. Generous policies such as subsidies, tax incentives, and charging infrastructure development.
              4. A wide range of electric vehicle models is available.

  Sales of electric vehicles in the 12 major countries and the 3 Nordic countries of Norway, Sweden, and Finland (15 countries in total) reached 1.026 million units in April. Year-over-year (y/y), the number of units sold increased by 27.2%, while sales decreased by 8.8% compared to the previous month (m/m). The market share of electric vehicles was 21.0% in April, a further increase of 1.3 points over the previous month. The growth in PHVs was particularly large. Cumulative sales of electric vehicles for the January to April period increased 24.3% y/y to 3.706 million units, accounting for 19.1% of total vehicle sales volume.

  Hybrid vehicle (HV) sales volume in April was 342,000 units. This reflects a 6.7% y/y increase, but a decrease of 24.6% m/m. The HV share for April was 7.0%, down 1.0 points from March. Cumulative HV sales for the January to April period increased 14.6% y/y to 1.482 million units, accounting for 7.6% of total vehicle sales volume.

  At the Auto China 2024 motor show, which was held in Beijing, China, at the end of April, a large number of EV smart cars that utilize AI and other intelligent technologies were exhibited by Chinese companies. Smartphone giant Xiaomi and emerging EV manufacturer XPeng unveiled their new BEV models. Additionally, Toyota announced that it formed a strategic alliance with IT giant Tencent to cooperate in areas such as AI, cloud computing, and big data, while Nissan signed an MOU with Baidu regarding a strategic partnership in the fields of AI and intelligent cars.

  Outside of the Auto China 2024, Mercedes-Benz and Google Cloud announced an expanded partnership to utilize AI for customer experiences, and Tesla CEO Elon Musk announced a USD 10 billion investment in AI learning and inference for automobiles. The trend of integrating AI and software into electrification is notable.