Global electric vehicle market surges as demand shifts toward fully electric models

Global electric vehicle market surges as demand shifts toward fully electric models

The global electric vehicle market is accelerating at a rapid pace, fueled by sustainability trends and new government incentives, according to a new report released by The Insight Partners. The market was valued at $909 billion in 2024 and is projected to more than double to $2.49 trillion by 2031, the company said in a recent news release. Analysts expect the market to grow at a compound annual growth rate of 15.5% from 2025 to 2031. The repor…

Electric cars exceed 15 per cent market share in EU despite sharp decline for Tesla

The market share of fully electric new cars in the European Union exceeded 15 per cent in the first half of 2025, show figures from the industry...

Dealers see PHEVs as ‘stepping stone’ to consumers moving to BEVs

The majority of dealers see PHEVs as the stepping stone to an electric vehicle (EV) for car buyers worried about going fully electric. The Startline July Used Car Tracker found 68% of buyers see PHEVs as a stepping stone and as a result, 60% expect values for PHEVs to rise and 48% expect demand to similarly increase. However, many expect this trend to be transitory, with only 37% thinking PHEVs will have a long-term market presence and 37% belie…