Thermal vehicles (PC) in Europe, China, USA and Japan in 2024: continuing decline of thermal vehicles
Alongside the growth in sales of fully electric vehicles (BEV), plug-in hybrid vehicles (PHEV) and non-plug-in hybrid vehicles (Full-HEV) in all regions of the world, there has been a continuing and significant decline in sales of thermal vehicles (petrol, diesel and MHEV) in most of these regions.
1. The drop in sales of thermal cars (including MHEVs) was the sharpest in China , with these falling from 95% of the market in 2018 to 50% in December 2024. In volume, this represents a drop of 5 million units during this period, with the market for thermal cars falling from 20 million to 15 million, while during this same period, the Chinese market for passenger cars grew from 23.7 million to 27.5 million.
2. The fall in sales of thermal cars (including MHEVs) was also relatively sharp in Europe , with these falling from 95% of the market in 2018 to 60% in December 2024. In volume, this represents a fall of 4.7 million units during this period, with the thermal car market falling from 13.5 million to 8.8 million, while during this same period, the European passenger car market fell from 14.3 million to 12.9 million.
3. The drop in sales of thermal cars (including MHEVs) was much less severe in the USA (due to lifestyles leading to a preference for gasoline engines), these falling from 95% of the market in 2018 to 80% in December 2024. In volume, this represents a drop of 2.6 million units during this period, the market for thermal cars falling from 15.5 million to 12.9 million.
4. Japan is the country where the drop in sales of thermal cars (including MHEVs) was the smallest (due to a strong historical presence of hybrid engines and Key-cars), these falling from 75% of the market in 2018 to 65% in December 2024. In volume, this represents a drop of 0.8 million units during this period, the market for thermal cars falling from 3.2 million to 2.4 million.