but prices of evs, they are staying high and that, according to the experts, is behind the worrying slow down. and now manufacturers are not so optimistic about the year ahead, with tesla announcing weaker sales than expected and its chinese competitor byd seeing sales slump in february. but that said, while ev sales are slowing, it is still a growing market. global ev sales grew by 21% compared to this time last year. the world s largest electric vehicle market, it s china. it saw nearly 15% growth in the first three months of the year, with sales over a million cars, but it is still the slowest growth in a year. europe, the second largest market, has been at the centre of the ev revolution, but it s only seen 7% growth so far this year. that s down more than a half compared to last year. in the us and canada, the us being the third largest market, sales grew 13%.
slow down. and now manufacturers are not so optimistic about the year ahead, with tesla announcing weaker sales than expected and its chinese competitor byd seeing sales slump in february. but that said, while ev sales are slowing, it is still a growing market. global ev sales grew by 21% compared to this time last year. the world s largest electric vehicle market, it s china. it saw nearly 15% growth in the first three months of the year, with sales over a million cars, but it is still the slowest growth in a year. europe, the second largest market, has been at the centre of the ev revolution, but it s only seen 7% growth so far this year. that s down more than a half compared to last year. in the us and canada, the us being the third largest market, sales grew 13%.
Goa s EV subsidy scheme faces poor response, with only 25% of target applicants applying. The scheme aims to promote EV adoption in various vehicle categories and increase BEV market share to 25% by 2024 for environmental benefits.
Telangana struggles with EV adoption, having 70,000 EVs, falling short compared to neighboring states. Challenges include lack of incentives, safety concerns, and charging infrastructure. Greater Hyderabad leads with 43,000 EVs.
The Indian EV sector ended FY2024 on a strong platform, setting record sales across vehicle types. Sales rose by 41% annually, reaching 1.66 million EVs sold.