(Reuters) – Global demand for electric vehicles rose for a fifth consecutive month in July, driven by robust growth in Europe while sales weakened in China and North America, data from consultancy Benchmark Mineral Intelligence showed on Thursday.
Sales of battery-electric and plug-in hybrid vehicles rose 9% from a year ago to 1.85 million units in July, bringing year-to-date volumes to 11.5 million vehicles.
The figures underscore the growing divergence between major EV markets, with European subsidies supporting demand, while the U.S. market has been affected by the removal of federal EV tax credits and Chinese automakers increasingly rely on exports for growth.
- Sales in Europe climbed 33% to 450,000 units, pushing year-to-date growth to 28%
- “High growth persisted in Europe’s larger automotive markets, many of which have experienced a return of an EV subsidy scheme over the past 18 months,” BMI said
- France, Germany and Britain posted EV sales growth of 81%, 46% and 43%, respectively, in July
- Meanwhile, China sales fell 5% to 980,000 vehicles
- North America sales dropped 27% to 140,000 vehicles, following the end of U.S. EV tax credits
- Sales for the rest of the world jumped 97% to 280,000 units
Reporting by Amir Orusov in Gdansk, editing by Milla Nissi-Prussak
