Sales of electric vehicles in China, the world’s largest auto market, rose 29% year-to-date in September. During the same period, the global electric vehicle market grew by 34%.
Sales of electric vehicles continue to grow worldwide. Reuters reported this with reference to data from market research company Rho Motion.
It noted that sales of electric vehicles in China, the world’s largest auto market, grew by 29% in September since the beginning of the year. During the same period, the global electric vehicle market grew by 34%.
“What’s striking about October’s numbers is that demand for electric vehicles in China continues to hit record levels even as the country’s subsidies are cut. 2023 should be another banner year year for China in terms of electric vehicle sales,” it said. Rho Motion.
It also reported that electric vehicle sales rose 26% in European markets where subsidy cuts have affected demand, as seen in Germany, where business subsidies were removed in September.
Sales of electric vehicles in North America increased by 78%.
Recall that global automakers have dramatically increased discounts on electric vehicles in an attempt to slow the waning demand for them. In the UK, electric car rebates are 11%, in the US 10%, and in Germany around 7%.
As previously reported, the European Commission announced the launch of an anti-dumping investigation into the import of electric vehicles made in China. The EC wants to investigate the fact that Chinese manufacturers of electric passenger cars receive government subsidies, which harm the EU industry.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.