Electric vehicle (EV) sales in South Africa experienced significant growth in 2024, surpassing the 1,000-unit mark for the first time. Data from Lighstone Auto and the National Automobile Association of South Africa (Naamsa) revealed that 1,130 new EVs were registered between January and October 2024, a substantial 22% increase compared to the 929 units sold in the entirety of 2023. This surge follows a more modest growth from 502 units in 2022, indicating a rapidly expanding market.
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Contributing to this growth is the increasing availability of EV models priced under R1 million. The number of sub-R1 million EVs doubled from four to eight in 2024, offering more accessible options for South African consumers.
While fully electric vehicles saw impressive growth, sales of partially electrified vehicles surged even further. Plug-in hybrid electric vehicles (PHEVs), despite their higher price point (all exceeding R1 million), witnessed a 60% increase, with 533 units sold in the first eleven months of 2024 compared to 333 in 2023.
Traditional hybrid electric vehicles (HEVs) continued to dominate the new energy vehicle (NEV) market, with 10,739 units sold in the first ten months of 2024, a 66% increase from 2023. This strong performance across all NEV categories resulted in a 60% overall increase in NEV sales, from 7,746 units in 2023 to 12,402 units in the first ten months of 2024.
The EV market witnessed intensified competition in 2024. The BMW and Volvo groups emerged as key players, with combined sales of 992 EVs in the first ten months. BMW led with 500 units sold, while Volvo followed closely with 492 units. Notably, Volvo’s sales surged significantly, surpassing its 2023 sales of 181 units by a considerable margin.
The Volvo EX30, launched in the first quarter of 2024, has been a major contributor to the brand’s success. Priced competitively below R800,000, this model has already achieved 348 sales, solidifying its position as the top-selling EV in South Africa.
Other notable EV manufacturers include Mercedes-Benz (68 units), GWM (36 units), and Volkswagen Group (12 units).
