Global Sales of Electric and Plug-in Hybrid Vehicles Rise by 18% in January
The global sales of electric and plug-in hybrid vehicles increased by 18% in January compared to the same period last year, according to research firm Rho Motion, as reported by Reuters.
Growth in the European and U.S. markets outpaced that of China, marking the first such occurrence since February last year. The European market maintained its strong position due to the implementation of new carbon emission regulations by the European Union. Meanwhile, China saw a 43% month-on-month decline in sales, attributed to the Lunar New Year celebrations.
According to Rho Motion, global electric and plug-in hybrid vehicle sales reached 1.3 million units in January, reflecting a 17.7% increase. In China, sales amounted to 0.7 million units, an 11.8% rise. The European market recorded a 21% increase, reaching 0.25 million units.
France experienced a 52% drop in plug-in hybrid sales due to the introduction of a new weight-based tax, whereas Germany saw a 40% surge. In the U.S. and Canada, sales rose by 22.1%, reaching 0.13 million units.
The Chinese government has extended its vehicle replacement subsidy program until 2025, while Europe has initiated discussions on new carbon emission regulations. However, on a month-on-month basis, global sales fell by 35%, primarily due to a significant sales decline in China.
