EVs hit 7% market penetration globally
Global EV sales were up 181% y/y YTD May, reaching over two million units sold so far this year. China and Europe continue to juke it out over who’s going to have the highest sales this year, and China has dominated over the past two months. Over 212K units were sold in China in May, and sales are now up 247% y/y YTD. With domestic ICE sales weakening, China’s EV penetration remained at elevated levels, hitting a new all-time record of 12.9% in May. With regards to the breakdown, the Wuling HongGuang Mini continued to dominate, with over 26,700 sales,...
Wuling HongGuang Mini