The number of PHEVs in Europe, China, the USA and Japan in 2024
- The volume of PHEVs sold worldwide in 2024 exceeded 6 million units for the first time, at 6,435,125, up 58.4% compared to 2023, thanks to exponential demand in China. Let’s remind that in 2015, the volume of PHEVs sold worldwide did not exceed 160,000 units, before gradually reaching 345,000 units in 2017, 525,000 in 2019, 1,830,000 in 2021 and 4,065,000 in 2023.
- In this growing PHEV market, China is consolidating its lead over other countries, with 5,103,379 sales in 2024 compared to 2,735,656 in 2023 and 1,530,479 in 2022. The growth in PHEV sales in China is exponential. In 2024, the market share of PHEVs sold in China reaches 18.5% compared to 10.7% in 2023 and 6.5% in 2022.
- Europe is in second place behind China, with 952,058 PHEVs sold in 2024, compared to 987,231 in 2023 and 1,013,827 in 2022. The decline in PHEV sales in Europe has been effective since 2021. As a result, the market share of PHEVs in Europe returns to 7.3% in 2024 compared to 7.7% in 2023 and 9% in 2022.
- The US ranks third behind China and Europe , with 315,997 PHEVs sold in 2024, compared to 287,667 in 2023 and 189,486 in 2022. In 2024, the market share of PHEVs sold in the US reaches 2% compared to 1.8% in 2023 and 1.4% in 2022.
- Japan remains far behind, with only 63,691 PHEVs sold in 2024, compared to 51,870 in 2023 and 37,536 in 2022. This type of engine is clearly in competition with HEVs in this country: the market share of PHEVs sold in Japan does not exceed 1.7% in 2024 compared to 1.3% in 2023 and 1.1% in 2022.