EV sales are continuing to grow despite reports claiming they've slowed

EV sales have been the subject of many gloomy headlines lately, but the narrative doesn’t match what’s happening, as sales of gas cars are actually declining.

Even as attention-grabbing stories declare that demand is cooling, the global numbers tell a different tale.

In reality, sales of electric vehicles are still climbing year after year, although they fall short of the breakneck pace of their earliest days.

As it turns out, in most places around the world, EV adoption is still on the rise.

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EV sales don’t look as good as before due to math

The core misunderstanding comes down to percentage growth.

When a category is new, it’s easy to post soaring growth rates of 50 percent or more.

But as EVs have expanded worldwide, reaching millions of sales each year, it’s natural for those percentages to dip even while total sales continue to rise.

A 25 percent increase on a much larger base still represents millions more electric cars on the road.

That’s exactly what the data shows.

According to industry analysts, global EV sales grew by about 23 percent in the first 10 months of this year, which is slightly higher than the same period last year.

Europe is up by more than 30 percent, China is up over 20 percent, and other regions collectively jumped nearly 50 percent.

Even North America posted growth, though at a much more modest level than other parts of the world.

And when you zoom out to raw numbers, the picture becomes even clearer: each year that passes adds more EVs to the road than the year before.

Much of the confusion comes from comparing today’s growth to the unusually sharp spikes of earlier years, including the post-2020 surge.

Those kinds of jumps can’t continue forever.

If they did, EVs would mathematically surpass 100 percent of global car sales, which is obviously illogical.

To put it simply, slower percentages don’t mean shrinking sales; they simply reflect the scale of a rapidly maturing market.

Sales of gas cars are declining in absolute numbers

Another factor muddying the story is short-term volatility in individual countries.

For example, the US experienced a dip in EV sales in October, due to the end of the federal EV tax credit in September.

But similar dips have happened elsewhere, such as in Germany after incentive adjustments, and each time the market eventually rebounded.

These temporary bumps don’t reverse the long-term upward trend.

Here’s the part that rarely makes headlines: sales of gas cars are actually declining worldwide.

EVs and hybrids are taking a larger slice of the pie each year, and the global auto market is gradually but steadily electrifying.

In fact, Mercedes-Benz recently announced that it sold more electric cars than gas cars for the first time in a while, although the brand also admitted that going all-in on EVs was a mistake.

So yes, EV sales are still growing, and in some regions, they’re completely taking over.

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