Global Electric Vehicle and Plug-in Hybrid Vehicle Sales Rebound Strongly Despite Regional Differences

TapTechNews August 15th news, data from the market research company RhoMotion shows that although the growth of the electric vehicle industry slowed down a bit at the beginning of this year, the sales of global electric vehicles (EV) and plug-in hybrid vehicles (PHEV) in July increased by 21% year-on-year, showing a strong rebound.

The data shows that the global sales of electric vehicles and plug-in hybrid vehicles reached 1.4 million units last month. Among them, the sales in the Chinese market was about 880,000 units, increasing by 31% year-on-year, and the sales of plug-in hybrid vehicles increased by a whopping 70% year-on-year.

TapTechNews noticed that not only the Chinese market performed strongly, but also the sales of electric vehicles in the US and Canada increased by 7.1% in July. However, the European market suffered a setback, with a 7.8% decrease in sales in July. Among them, the German market performed particularly weakly, with a cumulative 12% decrease in sales from January to July.

Charles Lester, the data manager of RhoMotion, said: Since the beginning of this year, the electric vehicle market can be described as a mixed bag. The global sales are strong, especially in China, North America and emerging electric vehicle markets continue to grow. However, the sales in the EU market have stagnated, and Germany has fallen significantly. The tariffs on Chinese electric vehicles in the EU may further exacerbate this situation. Although the regional situation is not good, France and the UK can still weather the storm and their domestic markets have increased. Unless decisive measures are taken, we expect these trends to continue for the rest of this year.

One of the biggest winners of the recovery in demand for electric vehicles and plug-in hybrid vehicles is BYD. The sales of the company's pure electric vehicles increased by 13% and the sales of plug-in hybrid vehicles increased by 44%. Lester pointed out: The sales of BYD's plug-in hybrid vehicles have once again set a record, and because it has a large number of models, it is a major driving force for growth.

RhoMotion also said that the sales of vehicles equipped with extended-range power systems are also very strong, but did not specifically state the sales data.