The global market for electric vehicles has grown by 34% since the beginning of the year – Kommersant

In the first nine months of the year, global electric vehicle sales were up 34% year-on-year. This was reported today, November 14, by the agency Reuters citing data from research company Rho Motion.

Company analysts note that China made a significant contribution to the global growth in sales of electric vehicles, where sales increased by 29% over nine months. It is noteworthy that growth continues after the completion in December 2022 of the government market subsidization program, launched back in 2010. Rho Motion expects sales growth to continue through the end of the year.

“Speaking of October, it should be noted that sales of electric vehicles in China this month are always traditionally high,” analysts note. “We can assume that, taking into account the previous dynamics, we will get a very good result for sales of electric vehicles in China for the whole year.”

In the European electric vehicle market, Rho Motion reports year-to-date sales growth of 26%. However, the European market is still quite dependent on government support measures for electric vehicles, particularly in Germany. “Subsidies remain an important factor in the German market, given that almost two-thirds of new passenger vehicle registrations in the country are in the commercial sector,” analysts said.

Read about which models of electric vehicles Russians buy more often in the material “Electric cars are fueled by demand”.

Evgeny Khvostik