Global Electric Vehicle Sales Show Mixed Trends in July

TapTechNews August 14th news, the market research organization RhoMotion released a report on Monday stating that the sales of fully electric vehicles and plug-in hybrid electric vehicles worldwide in July increased by 21% year-on-year. This increase benefited from the strongest growth momentum in the Chinese market this year, and also offset the impact of the decline in demand in Europe.

Data shows that the global sales of electric vehicles in July (TapTechNews note: this organization combines pure electric and plug-in hybrid models for calculation) was 1.35 million units, and the sales in China was 880,000 units, with a year-on-year increase of 31%. In the first seven months of this year, the PHEV sales in China increased by 70% compared to last year.

According to Reuters, in Europe, the monthly sales of electric vehicles in July decreased by 7.8% year-on-year, and the data so far this year remains the same as in 2023. In the first seven months of this year, in Germany, which is the largest electric vehicle market in the EU, the sales of electric vehicles decreased by 12%. In the United States and Canada, the sales of electric vehicles increased by 7.1% in July.

RhoMotion data manager Charles Lester told Reuters that in the EU, SAIC's MG Motors is expected to be the most impacted by the temporary tariffs imposed on electric vehicles imported from China. At the same time, the impact of tariffs on Tesla and Chinese electric vehicle giant BYD should be relatively small, as the former can produce in the Berlin factory and the latter's business in Europe is'still very small'.