Global electric car sales hit new record

Global sales of battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs) rose 20% year-on-year in November 2023 as strong growth in North America and China offset a sales slump in Europe, market research firm Rho Motion said.

According to Rho Motion, global BEV and PHEV sales in November 2023 reached a new record of 1.4 million units, up from 1.1 million units in November 2022.

“Vehicle sales continue to rise despite the lackluster market sentiment and we expect sales to continue to grow strongly in December 2023,” said Charles Lester, Director of Data.

Figures released by Rho Motion show that BEVs will account for 70% of global sales and PHEVs will account for the remaining 30% by November 2023.

China reported a 25% increase in electric vehicle sales and a 43% increase in the US and Canada during the period, while Europe saw sales fall 3% compared to the same period in 2022.

After years of rapid growth, some automakers worry that electric vehicle sales in Europe and elsewhere could slow demand as buyers wait for better, cheaper models to arrive in the next two to three years.

Rho Motion said the drop in European car sales was due to a sharp increase in late 2022 as Germans aggressively bought electric cars before the government cut subsidies.