Electric vehicle sales in Japan saw a dramatic decline of 33% in 2024, falling below 2% of the new car market. This marks the first drop in four years, with local brands like Nissan, Toyota, and Mitsubishi facing significant drops in sales. Meanwhile, foreign automakers like BYD and Hyundai are gaining traction in the Japanese market.
Electric vehicles in Japan have plunged by 33 percent in 2024 and account for less than 2 percent of all new car sales. Although this is the first decline in four years, brands like BYD and Hyundai seem to be making strides in the EV marketplace. Hybrids are the flavor of the moment for Japan ese consumers, but global trends suggest that EVs will continue to rise in popularity. Sales of EVs around the world have been somewhat inconsistent in 2024.
The Reasons Behind Japan’s EV SlumpSo what caused EVs to plunge last year? The key reason is hybrids. Japan remains loyal to its hybrid vehicles, which offer fuel efficiency without the higher price tag of EVs. Combined with the limited infrastructure, many consumers still aren’t sold on going fully electric. Meanwhile, foreign automakers have been quick to spot opportunities in this underperforming market.
ELECTRIC VEHICLES SALES JAPAN HYBRIDS BYD HYUNDAI
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