'A new phase of growth': How surging EV sales are set to erode oil demand by millions of barrels every day

Michael Holder
clock • 6 min read
Credit: iStock
Image:

Credit: iStock

Latest global electric vehicle market assessment by the International Energy Agency (IEA) predicts sales of plug-in models will reach 17 million this year

Surging sales of electric vehicles (EVs) are expected to send yet more records tumbling in 2024, as upfront costs continue to fall, new models reach the market, and public charging infrastructure expands,...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose the membership package that's right for you and your organisation, via our 3 membership levels.

Join now

 

Already a BusinessGreen member?

Login

More on Automotive

'We're not stopping here': UK cruises past 75,000 EV charger milestone

'We're not stopping here': UK cruises past 75,000 EV charger milestone

New data from the Department for Transport confirms a new charger is being added to the UK’s network evert 29 minutes

James Murray
clock 13 March 2025 • 4 min read
MPs raise alarm over EV charge point postcode lottery

MPs raise alarm over EV charge point postcode lottery

Public Accounts Committee calls for charge point roll out to urgently address underserved parts of the motorway network, warning shortages of chargers in some regions could undermine EV roll out

Michael Holder
clock 12 March 2025 • 3 min read
Study: Used electric car sales may be close to 'tipping point' in the UK

Study: Used electric car sales may be close to 'tipping point' in the UK

Analysis indicates surging interest in second-hand EVs that could soon see sales of used battery cars overtake those of petrol and diesel models

Michael Holder
clock 12 March 2025 • 4 min read