Key facts
- Global battery-electric and plug-in hybrid sales reached 2.09 million vehicles in October, up 8% from a year earlier, per Benchmark
- Year-to-date global volumes were 17.5 million units, up 5%, Benchmark Mineral Intelligence said
- China's year-on-year decline narrowed to 12%, with passenger car NEV exports at almost 600,000 units, a monthly record, Lester said
- European sales grew 36%, helped by subsidies, rising fuel prices, EU emissions legislation and more models, Benchmark said
- North American sales rose 24% and sales in the rest of the world rose 85%, Benchmark said
- October was the first month the US market was measured against a period without a federal EV tax credit, Benchmark said
Global sales of new battery-electric and plug-in hybrid electric vehicles climbed 8% from a year earlier to 2.09 million vehicles in October, UK-based research firm Benchmark Mineral Intelligence said on November 12. Year-to-date volumes were up 5% at 17.5 million units.
China's year-on-year decline narrowed to 12% as manufacturers continued to lean on exports, Benchmark data manager Charles Lester said. Passenger car NEV exports reached almost 600,000 units, another monthly record, he said. "Even though the Chinese market is down domestically, that has then in turn resulted in a lot of OEMs pushing the exports and contributing significantly to the rest of the world," Lester told Reuters.
European sales grew 36%, helped by subsidies, rising fuel prices, EU emissions legislation and a rising number of models, according to Benchmark. In the US, October was the first month measured against a period without a federal tax credit for EVs. While North America returned to growth with a 24% rise, Lester said the US market has stabilised at a lower level rather than recovered.
Sales in the rest of the world rose 85% and were higher than North America's, largely driven by growth in Chinese exports, Lester added.