Global EV sales up 24% - report
Kyiv • UNN
Global sales of electric vehicles and plug-in hybrids increased by 24% in June, reaching 1.8 million units. Sales in China and Europe showed significant growth, while the US recorded a 1% decline.
Global sales of electric vehicles and plug-in hybrids in June increased by 24% compared to last year, as the transition to electric vehicles maintained momentum in China and Europe, research company Rho Motion reported on Tuesday, writes UNN with reference to Reuters.
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However, EV sales in the US fell by 1% for the month and will struggle to recover this year after US President Donald Trump's spending bill cut tax breaks earlier than expected, said Rho Motion data manager Charles Lester.
North America, which also suffered from slowing sales in Canada, lagged behind the "rest of the world" countries for the first time, including emerging markets in Southeast Asia, South and Central America, Lester noted.
According to Rho Motion, global sales of electric vehicles and plug-in hybrids in June increased to 1.8 million units.
Sales in China increased by 28% compared to the same month last year and amounted to 1.11 million cars.
In Europe, sales increased by 23%, reaching approximately 390,000 units, while in North America, sales fell by 9%, exceeding 140,000.
Sales in other countries around the world increased by 43%, exceeding 140,000 cars.
"In the last few months, there have been reports of a possible slowdown in growth in China" due to subsidies running out in some cities, Lester said.
"But overall, we expect more subsidies to be available in the second half of the year," which, in turn, will lead to "significant growth" in sales volumes by the end of the year, he added.
Global automakers faced a 25% import tariff in the US, the world's second-largest automotive market, causing many of them to withdraw their 2025 forecasts.
In Europe, incentives for retail and fleet buyers in key markets such as Germany and Spain, as well as the availability of affordable electric vehicles, are expected to support EV sales in the second half of the year, the publication writes.
While some of the most successful electric vehicles in the small car segment are produced by European automakers such as Volkswagen and Renault, Chinese brands, including BYD, are gaining market share on the continent and stimulating growth in emerging markets, Lester noted.