ArenaEV.com ArenaEV.com

Facebook

Twitter

Instagram

RSS

Settings
Units
Power
Standard
Consumption
Currency

Log in

Login

I forgot my password
Sign up
ADVERTISEMENTS

Analysts: EV sales rise in China, stall for the rest of the world

  • Post your comment
  • Comments (1)

Ro, 19 June 2024

Other

According to the latest market research by Rho Motion, the global EV market is expanding, but mainly due to the rising demand for EVs in China. The North American and European markets, on the other hand, are stalling.

EV sales rise in China, stall for the rest of the world

For the January-May timeframe, China saw a 31% growth year-over-year and a 36% uptick just in May. In comparison, North America and Europe experienced a 5% and 4% rise in the January-May period, respectively. And in May, Europe and North America saw 9% and 3% decrease in sales on a yearly basis, respectively.

As a whole the global market is posting a strong 20% increase for both periods - January-May and May alone. But that just comes to underline how far ahead China is when it comes to electrification of its cars - it can essentially move the entire industry. The Chinese EV marketaccounts for more than 50% of global sales, which amount to 5 million shipments from January to May this year.

Analysts believe the economic hurdles in North America and Europe are hurting EV sales along with declining incentives. The introduction of higher tariffs on Chinese EV imports in both the US and the EU has resulted in even lower demand for EVs as a good chunk of those are imported from China.

Source

Related articles
  • Ford opens entire dealership to EVs, brings 90% of Americans within reach Ford opens entire dealership to EVs, brings 90% of Americans within reach
  • Mercedes-Benz, BMW, and Volkswagen protest increased tariffs on Chinese EVs Mercedes-Benz, BMW, and Volkswagen protest increased tariffs on Chinese EVs
  • Turkiye imposes a 40% tariff on Chinese car imports Turkiye imposes a 40% tariff on Chinese car imports
  • Toyota talks tough on EVs: "We'd rather buy credits than waste money" Toyota talks tough on EVs: "We'd rather buy credits than waste money"

Reader comments

?
  • Anonymous
  • pe3
  • 22 Jun 2024

What really is hurting sales is: 1. Price 2. Fee places to charge them 3. The time it takes to charge them The technology is not there just yet, the infrastructure is not developed like it obviously is in China. Imagine for example Albania...

  • Reply
  • Read all comments
  • Post your comment
Total reader comments: 1

  • Home
  • Compare
  • News
  • Terms
  • Reviews
  • About us
  • Tesla
  • Volkswagen
  • Audi
  • Porsche
  • BMW
  • Mercedes
  • Hyundai
  • Kia
  • Genesis
  • Renault
  • Nissan
  • Ford
  • Volvo
  • Polestar
  • Jaguar
  • Toyota
  • Mazda
  • Mini
  • MG
  • Vinfast
  • Lucid
  • Rivian
  • Cadillac
  • Chevrolet
  • GMC
  • Subaru
  • Nio
  • Xpeng
  • BYD
  • [..]

EV finder

ADVERTISEMENTS

Latest models

  • ModelXiaomi
    YU7 Max
  • ModelNissan
    Leaf 75kWh
  • ModelTesla
    Model S Plaid
  • ModelNissan
    Micra EV 52kWh
  • ModelTesla
    Model X Plaid
  • ModelGenesis
    GV60 Performance AWD

Featured

  • Why solar panels on cars make no sense (at this point) Why solar panels on cars make no sense (at this point)
  • The EVs will kill the power grid. Or will they? The EVs will kill the power grid. Or will they?
  • VW ID.4, Audi Q4 and Skoda Enyaq - three identical yet so different EVs VW ID.4, Audi Q4 and Skoda Enyaq - three identical yet so different EVs
  • Benefits of dedicated EV platforms Benefits of dedicated EV platforms
  • Real-life test reveals how much range EVs lose in the cold Real-life test reveals how much range EVs lose in the cold
ADVERTISEMENTS

Reviews

  • Jeep Avenger review Jeep Avenger review
  • Zeekr 001 with 140 kWh Qilin battery real life range test results Zeekr 001 with 140 kWh Qilin battery real life range test results
  • 57 electric cars range tested at highway speeds - who wins? PART 1 57 electric cars range tested at highway speeds - who wins? PART 1
  • NIO ET7 quick review and drive NIO ET7 quick review and drive

Home News Compare About us RSS feed Facebook Twitter Instagram

© 2022-2025 ArenaEV.com Mobile version EV Finder Glossary Privacy Terms of use

From the team behind
GSMArena.com