EV sales accelerate globally despite mixed regional trends

The figures highlight strong momentum in the sector, though performance varied sharply across regions.

Europe posted the most notable growth among major markets, buoyed by increased uptake in Germany, France and the United Kingdom. Although sales moderated slightly after a record-breaking September, confidence remains high as the European Union pushes forward with new battery manufacturing initiatives.

China retained its position as the world’s largest EV market, accounting for more than half of global sales. Rho Motion’s analysis covers both fully electric and plug-in hybrid vehicles. Charles Lester, the firm’s data manager, emphasised that the cost gap between electric and petrol-powered cars is far narrower in China than in Europe or North America, making EVs more attainable for Chinese consumers.

In stark contrast, North American sales slumped by 41% compared to previous months. This downturn followed record highs in late summer and was largely driven by the expiry of a $7 500 tax credit (R128 000). Lester noted that battery-electric models remain considerably more expensive than equivalent internal combustion vehicles in the United States, dampening demand.

China led with approximately 1.3 million units sold. Europe recorded a 36% increase to 372,786 vehicles, while North America fell to 100 370 units. Other regions collectively saw a 37% rise, reaching 141 368 vehicles.

Looking ahead, Lester expects Europe’s year-to-date growth to hold firm, with strong sales anticipated through December. He also predicts continued strength in China, as buyers rush to take advantage of a full tax exemption before it is reduced to 50% for new energy vehicles.