BEIJING (Kashmir English): Sale of fully electric and plug-in hybrid vehicles worldwide grew only 15% in August from a year ago, recording the slowest rate since January and reflecting tougher comparatives, market research firm Rho Motion said Friday.
China’s Electric Vehicle sales growth, which averaged 36% a month in the first half, plunged to 6% in August.
However, China sales are still likely to be strong in the fourth quarter amid new funds available for its subsidy schemes and the usual seasonal rebound, said Charles Lester, data manager of Rho Motion.
China accounts for over half of global EV sales
China remains the world’s biggest car market and accounts for over half of global EV sales, which in Rho Motion’s data include battery-electric vehicles and plug-in hybrids.
China’s overall car sales growth slumped to the weakest in seven months in August. The world’s largest EV maker, China’s BYD, last week slashed its 2025 global sales target by as much as 16%.
However, August remained the best month yet in terms of hybrid and EV sales for Geely, Xpeng, and Nio, underscoring how smaller local rivals are picking up market share in China.
Sales of battery-electric vehicles and plug-in hybrids worldwide rose to 1.7 million units in August, according to Rho Motion. The same month last year had benefited from subsidy-boosted demand in China.
