Islamabad, Dec 17; Global sales of fully electric and plug-in hybrid vehicles increased for the seventh straight month in November, rising 32% year-on-year to a record high, according to market research firm Rho Motion.
China remained the key driver, contributing 70% of global EV sales, while sales in Europe experienced a slight year-on-year decline.
Why It Matters
The EV market is witnessing significant changes as China’s rising production and demand impact global markets. Europe faces mounting challenges, including higher production costs, stricter emissions targets, and increased competition. Automakers in Europe and the U.S. highlight trade tensions, CO₂ regulations, and reduced incentives as factors influencing prices and job security.
Key Figures
- Global EV sales: Up 32.3% to 1.83 million units in November.
- China: Sales surged 50% to 1.27 million units.
- U.S. and Canada: Sales rose 16.8% to 0.17 million units.
- Europe: Sales reached 0.28 million, down slightly year-on-year but 7.7% higher than October.
