Global EV sales grew in November at the slowest rate since February 2024 as China plateaued, reports Reuters. Of the 1.98 million EVs sold globally in November, 1.32 million were in China.
Global EV registrations, a proxy for sales, rose by 6% to just under 2 million units in November, the data showed. They were up by 3% in China to more than 1.3 million, the lowest year-on-year increase since February 2024.
In China, the world’s biggest car market accounting for more than half of global EV sales, reduced government subsidies near the end of the year are expected to dent consumer sentiment overall.