Summary
- Global sales of electric vehicles rose by 30.5% in September, with China surpassing its record numbers from August
- U.S. market saw slow growth due to the upcoming election, making it hard to predict future trends
- Chinese carmakers are trying to increase sales in the EU despite high import duties
- In September, 1.69 million EVs were sold worldwide, with China leading with 1.12 million vehicles
- Rho Motion expects European EV sales to reach 3.78 million in 2025 and 9.78 million in 2030, lower than previous estimates
Article
Global sales of fully electric and plug-in hybrid vehicles increased by 30.5% in September 2020, with China leading the way with record numbers and Europe also experiencing growth. The U.S. market, however, saw slow and steady gains, making it difficult to predict future trends in the country according to data manager Charles Lester. Chinese carmakers are looking to expand their sales in the EU despite import duties and a cooling global demand for electric cars, with competition heating up between Chinese and European automakers at the Paris car show.
Sales of electric vehicles (EVs), including both fully electric and plug-in hybrid models, reached 1.69 million worldwide in September. China saw a significant increase of 47.9% in sales, totaling 1.12 million vehicles, while the U.S. and Canada experienced a more modest 4.3% growth with 0.15 million units sold. In Europe, EV sales rose by 4.2% to 0.3 million units, driven by a 24% increase in the United Kingdom and gains in Italy, Germany, and Denmark. Lester highlighted that Germany’s 7% year-on-year growth was positive news and that EU’s intermediate carbon emission reduction goals set for next year will challenge the market.
The penetration rate of both fully electric (BEV) and plug-in hybrid (PHEV) vehicles in the Chinese market is growing faster than anticipated, with the potential for record sales every month until the end of the year. Germany’s growth rate of 7% was also deemed positive, while the EU’s upcoming carbon emission reduction goals will be a test for the market. Rho Motion projects that EV sales in Europe will reach 3.78 million vehicles in 2025 and 9.78 million in 2030, lower than previously estimated figures. France announced plans to reduce support for EV buyers, while Germany implemented tax relief for companies on EV sales after phasing out a subsidy scheme designed to accelerate the green transition last year.
Overall, the growth in global sales of EVs in September indicates a positive trend for the industry, with China leading the way with impressive numbers and Europe experiencing renewed growth. The U.S. market, on the other hand, has been more restrained due to the upcoming election, making future trends uncertain. Chinese carmakers are aiming to increase their presence in the EU market despite challenges such as import duties and the overall slowdown in demand for electric vehicles worldwide. The projections for EV sales in Europe indicate growth in the coming years, although lower than previously estimated figures, with various countries implementing measures to support the transition to electric mobility.
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