Global EV sales grew in November at the slowest rate since February 2024 as China plateaued, while the end of an EV tax credit scheme in the United States set North America on track for its first year of decline since 2019, data showed.
According to a report by Reuters, in Europe, registrations of electric vehicles, including battery-electric and plug-in hybrids, maintained strong growth thanks to national incentive programs and are up by a third so far this year compared with the same period of 2024, consultancy Benchmark Mineral Intelligence (BMI) informed recently.
Electric transport groups say a swift EV transition is necessary to curb planet-warming CO2 emissions, but carmakers and governments have backtracked on some green commitments due to slower-than-anticipated EV adoption, which auto lobby groups say threatens jobs and profit margins.
Global EV registrations, a proxy for sales, rose by 6% to just under 2 million units in November, the data showed.
They were up by 3% in China to more than 1.3 million, the lowest year-on-year increase since February 2024.
North American registrations fell by 42% to just over 100,000 cars sold, following a similar drop in October at the end of U.S. tax credits, and are down 1% so far this year.
“For next year, we’re still expecting a decrease in U.S. EV sales forecast … The tax credit was so influential for the market,” BMI data manager Charles Lester said.
