Global EV sales up 20pc in August

Global sales of fully electric and plug-in hybrid vehicles rose by a yearly 20 per cent in August, driven by record high sales in China, and despite a 33 per cent drop in Europe to its weakest month since January 2023, market research firm Rho Motion said on Thursday, reports Reuters.
Rho Motion expects this year's sales in China, the world's largest EV market, to rise by one third from last year to 10.5 million vehicles, while it sees European sales roughly in line with last year's 3.1 million units, data manager Charles Lester told Reuters.
Demand for electric cars has cooled in recent months after rising dramatically for several years, as consumers wait for more affordable models or opt for hybrid alternatives, leading several automakers to scale back on their electrification plans. EVs - whether fully electric (BEV) or plug-in hybrids (PHEVs) - sold worldwide reached 1.47 million in August, Rho Motion data showed.