EV Sales Strong as Year Wanes
Global deliveries surge as U.S. and Canada post robust growth.
Forecast shows a strong U.S.-Canada EV sales finish to the year as U.S. consumers tap federal EV tax credits that the incoming Trump administration has said it wants to eliminate.
Pexels/Kindel Media
Global electric-vehicle sales ticked up to a new record in November, and combined U.S.-Canada sales saw a healthy bump.
Worldwide EV sales rose 100,000 units to 1.8 million units, according to London-based EV sector researcher Rho Motion.
Year-to-date global EV deliveries are up sharply year-over-year – 25% to 15.2 million, Rho Motion data show, while U.S. and Canada sales alone have grown by 10% to 1.6 million.
Rho Motion forecasts a strong U.S.-Canada sales finish to the year as U.S. consumers tap federal EV tax credits that the incoming Trump administration has said it wants to eliminate.
China, an EV sales juggernaut, sold nearly 1.3 million units in November, surpassing its previous record set in October by 50,000, and is up 40% year-to-date to 9.7 million, Rho Motion said.
Meanwhile, sales in Europe are down 3% year-to-date, the only region seeing a decline.
DIG DEEPER: Auto Dealers Bullish On Market
Originally posted on Auto Dealer Today
More Industry
World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →