Rising SUV sales undermine electric vehicle market growth

Sales of SUVs are rising sharply, with 54% of cars sold globally in 2024 being SUVs, up from previous years. This shift is impacting electric vehicle sales, which are declining, particularly in Europe. In 2024, SUV sales in Europe surpassed those of electric vehicles, a significant change from 2018. The market for battery-electric models is also expected to drop, with forecasts revised down from 27% to 21% for early 2025. Experts warn of a "looming crisis" for the electric vehicle industry, citing stagnation in the market. The EU aims for net-zero emissions by 2050, but the rise of petrol and diesel vehicles poses challenges to this goal.