Global EV sales fall 2% in September, ending six-month growth streak
by@Reuters
Summary
Global electric vehicle (EV) sales declined by 2% in September, totaling 2.15 million vehicles, which ended a growth streak of six months. This drop was influenced by a significant 44% decrease in North American sales, attributed to a surge in purchases a year ago before the expiration of tax credits. Despite this decline, Europe experienced its strongest month on record, with nearly 600,000 EVs sold, surpassing the previous high set in June. Meanwhile, sales in China fell 18% to 1.11 million vehicles, leading carmakers to increasingly focus on international markets due to domestic challenges.
Analysis
BMI: BMI is a research and data analytics firm specializing in global market intelligence across sectors including automotive and emerging technologies. It tracks and reports on vehicle sales trends, providing proprietary datasets used by industry analysts and media. In this news, BMI supplied the September global EV sales figures and regional breakdowns that form the basis of the reported decline. Amir Orusov: Amir Orusov is a journalist based in Gdansk who covers business and market developments for Reuters. He reported on the global EV sales figures, including regional variations in Europe, North America, and China. The article was edited by Milla Nissi-Prussak. Charles Lester: Charles Lester serves as data manager at BMI, overseeing analysis of automotive market statistics. He provided commentary on Europe's record EV sales month and the expected normalization of year-over-year comparisons starting in the fourth quarter. His insights directly contextualize the sales data presented in the report. Export Shift: Carmakers in China are increasingly turning to international markets as domestic sales face challenges. Incentive Impact: North American EV purchases were influenced by the expiration of certain tax credits in the prior period, with comparisons expected to normalize later in the year. Market Resilience: European EV demand demonstrated continued strength with September marking the strongest month on record according to available data.
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macro