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EV sales growth weak but signs of life in consumer

Posted on - 05 Jul 2019

Category - Data update

Global EV sales continued to be impacted by the slowdown in demand in China caused by the modification of the subsidy regime. Sales rose only 12.5% y/y in May, their slowest rate of growth since our records begin in 2014. We're also seeing a slowdown in Europe and only the US is brushing off the trend. It's not all doom and gloom though as Chinese mobile phone production rose y/y in the past two months. We regard this as a key indicator of consumer battery demand.

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Batteries China Europe EV Mobile Phone US