November, a record month for electric car sales - China accounts for 2/3 of the total, while the EU and Britain show a decline
November marked another record month for electric car sales, with 1.8 million units sold globally, according to a report by research agency Rho Motion. This month surpassed the previous record set in October by 100,000 more vehicles.
The Chinese market once again beat its record last month by over 50,000 vehicles, reaching almost 1.3 million units sold. In total, 15.2 million electric cars have been sold worldwide so far this year, up 25% year-on-year, according to Rho Motion.
According to the report, the EU and UK region market remains in decline, with total sales down 3% in November compared to the same period last year. The region had 280,000 units sold last month, reaching 2.7 million units sold this year.
The UK market has had a strong second half of 2024, growing by 17%, boosted by the Zero Emissions Mandate, a government policy that sets tough targets for carmakers. According to a separate report, manufacturers offered huge discounts to ensure they met sales targets.
Meanwhile, Europe's largest economies, including Germany, France and Italy, had weak sales figures for electric vehicles this year. According to the data, sales volumes fell by 4.9% in the EU, while market share also fell to 13.2% from 14% last year, counting the first ten months of the year. European carmakers are struggling with high production costs and increasing competition, resulting in job cuts and factory closures.
China set a new record, with 1.3 million units sold in November 2024. Sales of hybrid vehicles almost doubled, while sales of all-electric vehicles are up 18% year-to-date.
In the US and Canada, the electric vehicle market continues to grow at a steady rate of 10% in 2024, says the Rho Motion report.
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