Global demand for electric vehicles rose for the fifth consecutive month in July, driven by a sharp increase in sales in Europe, while sales in China and North America declined, according to data from consultancy Benchmark Mineral Intelligence released on Thursday. Reuters reports, writes UNN.
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Sales of battery electric vehicles and plug-in hybrids rose 9% year-on-year to 1.85 million vehicles in July. A total of 11.5 million such vehicles have been sold since the beginning of the year.
These figures demonstrate the growing divergence between the major electric vehicle markets. In Europe, demand is being supported by subsidies, while the U.S. market has been affected by the cancellation of federal tax credits for electric vehicles, and Chinese automakers are increasingly relying on exports to drive growth.
Sales in Europe rose 33% to 450,000 vehicles, with growth since the beginning of the year reaching 28%.
High growth rates persisted in Europe's largest automotive markets, many of which have reinstated electric vehicle subsidy programs over the past 18 months
In July, electric vehicle sales in France, Germany and the United Kingdom rose by 81%, 46% and 43%, respectively.
Meanwhile, sales in China fell 5% to 980,000 vehicles.
In North America, sales fell 27% to 140,000 vehicles after electric vehicle tax credits in the United States expired.
Sales in the rest of the world rose 97% to 280,000 vehicles.
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