Global EV sales growth remains robust
Global EV sales were down 7% m/m in July, but that move was very similar to seasonal average moves, so we’re not worrying too much about it. On a y/y basis, sales were up 22% and remain up 23% y/y for the first seven months. Regionally, European sales continue to be weak, and were down 27% m/m in July at 235,000 units, down in y/y terms for the fourth time this year. They are now only just eking out growth on a YTD basis. One of the key reasons, in our view, for the weakness in European sales is the...
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