Global electric vehicle sales hit a record high in November! The Chinese market grew by approximately 25%.

November Sees All-Time High Global Electric Vehicle Sales, Chinese Market Surges by 25%

【PhoneAuto News】Recently, PhoneAuto learned that according to the latest data from market research company Rho Motion, global electric vehicle sales in November reached a new historical record of 1.4 million units. Pure electric vehicles accounted for 70%, while plug-in hybrid vehicles accounted for 30%. In terms of market performance, electric vehicle sales in China increased by 25%, sales in the United States and Canada grew by 43%, while sales in Europe decreased by 3% compared to the same period in 2022. Rho Motion stated that the decline in the European market is mainly due to a large number of German consumers purchasing vehicles before subsidies were reduced in the same period in 2022, resulting in higher sales in the same period last year.

According to Rho Motion, the decline in the European market is mainly due to a large number of German consumers purchasing vehicles before subsidies were reduced in the same period in 2022, resulting in higher sales in the same period last year. However, the organization also predicts that although subsidies in various European countries have started to decrease, with the gradual tightening of emission regulations, the sales of new energy vehicles in Europe will continue to grow.

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According to data from the China Association of Automobile Manufacturers (CAAM), in November, China’s production and sales of new energy vehicles both exceeded one million vehicles for the first time: production was 1.074 million vehicles, and sales were 1.026 million vehicles, representing year-on-year growth rates of 39.2% and 30%, respectively, with a market share of 34.5%. In November, domestic sales of new energy vehicles in China were 929,000 vehicles, an increase of 11.7% month-on-month and a year-on-year increase of 33.9%; exports of new energy vehicles were 97,000 vehicles, a decrease of 21.8% month-on-month and a year-on-year increase of 1.6%. From January to November, production and sales of new energy vehicles reached 8.426 million and 8.304 million vehicles, respectively, representing year-on-year growth rates of 34.5% and 36.7%, with a market share of 30.8%.

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