By Alessandro Parodi and Greta Rosen Fondahn
(Reuters) – Global sales of fully electric and plug-in hybrid vehicles rose 30.5% annually in September as China surpassed its record August figures and Europe resumed growth, market research firm Rho Motion said on Tuesday.
Gains in the U.S. market have been slow and steady ahead of the Nov. 5 election, making it difficult to predict future trends in the country, data manager Charles Lester told Reuters.
WHY IT’S IMPORTANT
Chinese carmakers are trying to increase sales in the EU despite import duties of up to 45% and amid declining global demand for electric cars. Chinese and European carmakers went head-to-head at the Paris auto show on Monday.
BY THE NUMBERS
EV sales worldwide – whether fully electric (BEV) or plug-in hybrids (PHEVs) – reached 1.69 million in September, data from Rho Motion showed.
Sales in China rose 47.9% in September to reach 1.12 million vehicles, while in the United States and Canada they rose 4.3% to 0.15 million.
In Europe, electric vehicle sales rose 4.2% to 0.3 million units, thanks to a 24% increase in the United Kingdom and gains in Italy, Germany and Denmark, Lester said.
GRAPHIC
KEY QUOTES
In the Chinese market, BEV and PHEV penetration is growing faster than some expected and sales “could be a record every month until the end of the year,” Lester said.
He added that Germany’s 7% annual growth was “absolutely positive news”, and that the interim CO2 emissions reduction targets set by the EU for next year will test the bloc’s market set.
Rho Motion expects electric vehicle sales in Europe to reach 3.78 million vehicles in 2025 and 9.78 million in 2030, down 24% and 19% respectively from previous estimates, William Roberts, head of automotive research, told to Reuters.
CONTEXT
France announced plans earlier this month to reduce its support for EV buyers, while Germany in September agreed to tax credits for companies on their EV sales, after ending a subsidy scheme designed to help the green transition last year speed up.
