Global EV Sales Rise 9% to 1.85 Million as Europe Jumps 33% and China, U.S. Slide
Updated
Updated · The Motley Fool · Aug 13
Global EV Sales Rise 9% to 1.85 Million as Europe Jumps 33% and China, U.S. Slide
3 articles · Updated · The Motley Fool · Aug 13
Summary
July global EV and plug-in hybrid sales reached about 1.85 million units, up 9% year over year, but the gain came from uneven regional demand rather than a broad-based surge.
Europe led growth with sales up 33% to roughly 450,000 after Germany, France and Austria expanded subsidies, leasing aid and tax breaks; higher fuel prices also strengthened EV economics.
China's sales fell 5% to 980,000 as Beijing wound down tax exemptions for hybrids and range-extended EVs, dragging those segments down 21% even as pure EV demand held up.
U.S. volume dropped 27% to 140,000, still feeling the loss of the federal Clean Vehicle Credit, while sales in the rest of the world nearly doubled to 280,000.
The July split underscores how heavily EV demand still depends on policy support, with charging build-outs and Chinese exports helping offset weaker home-market incentives.