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Global EV sales growth remains robust

Posted on - 11 Oct 2023

Category - Data update

August saw global EV sales maintain their 40% YTD growth rate, hitting 1.3M units. There was a substantial bounce in sales in Europe (up 15% m/m) as buyers in Germany rushed to lock in EV subsidies before they expired. Anecdotally sales are a little weaker in September. Nevertheless, European EV sales are still up 44% for the year to date and that’s not half as poor a performance as we had expected earlier in the year, given the weakness of the European consumer. We still see fleet demand as c.50% of European EV sales so demand is not quite as...

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