China's electric vehicle (EV) sales have jumped by 33% compared to last year, making it the first country to sell over 1 million EVs in a single month—achieved in August 2024.
This number includes both battery electric vehicles (BEVs) and plug-in hybrids (PHEVs). According to Rho Motion, demand is still strong, with 9.8 million battery-powered vehicles sold so far in 2024, which is a 20% increase year-to-date as of August.
In contrast, EV sales in Europe have dropped by 4% due to the end of subsidies in Germany and tariffs on Chinese EVs.
Charles Lester from Rho Motion mentioned that China is likely to hit the 1 million sales mark multiple times before the year ends. This strong performance in China's EV market shows a major shift in the global automotive landscape and highlights the challenges faced by European markets.
