Latest news with #RhoMotion
Khaleej Times
9 hours ago
- Automotive
- Khaleej Times
Global EV sales jump 24% in June though North American market struggles
Global sales of electric and plug-in hybrid vehicles jumped 24% in June from a year ago, as a switch to electric vehicles maintained momentum in China and Europe, market research firm Rho Motion said on Tuesday. Still, EV sales in the United States were down 1% in the month and will struggle to pick up this year, after President Donald Trump's spending bill cut tax credits sooner than anticipated, Rho Motion's data manager Charles Lester said. North America, also weighed by slowing sales in Canada, lagged for the first time behind the "rest of the world" countries, which include emerging markets in Southeast Asia and South and Central America, Lester said. Why it's important Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. In Europe, incentives for retail and fleet buyers in key markets such as Germany and Spain, alongside a growing availability of cheap EVs, are expected to support electric car sales through the second half of the year. While some of the most successful EVs in the small vehicle segment are produced by European carmakers such as Volkswagen and Renault, those by Chinese brands including BYD are taking up market share in the continent and driving growth in emerging markets, Lester said. By the numbers Global sales of battery-electric vehicles and plug-in hybrids rose to 1.8 million units in June, Rho Motion data showed. Sales in China jumped 28% from the same month last year to 1.11 million vehicles. Europe posted a 23% increase to about 390,000 units, while North American sales fell 9% to over 140,000. Sales in the rest of the world surged 43% to exceed 140,000 vehicles. "There's been reports over the last few months of a slowdown potentially in China" due to some cities running out of subsidies, Lester said. "But overall, we'd expect in (the second half) for more subsidy amounts to be available," leading to a "big boost" in volumes towards the end of the year, he added.
Time of India
13 hours ago
- Automotive
- Time of India
Global EV sales jump 24% in June though North American market struggles, research firm says
Global sales of electric and plug-in hybrid vehicles jumped 24% in June from a year ago, as a switch to electric vehicles maintained momentum in China and Europe, market research firm Rho Motion said on Tuesday. Still, EV sales in the United States were down 1% in the month and will struggle to pick up this year, after President Donald Trump's spending bill cut tax credits sooner than anticipated, Rho Motion's data manager Charles Lester said. North America, also weighed by slowing sales in Canada, lagged for the first time behind the "rest of the world" countries, which include emerging markets in Southeast Asia and South and Central America, Lester said. WHY IT'S IMPORTANT Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. In Europe, incentives for retail and fleet buyers in key markets such as Germany and Spain, alongside a growing availability of cheap EVs, are expected to support electric car sales through the second half of the year. While some of the most successful EVs in the small vehicle segment are produced by European carmakers such as Volkswagen and Renault, those by Chinese brands including BYD are taking up market share in the continent and driving growth in emerging markets, Lester said. BY THE NUMBERS Global sales of battery-electric vehicles and plug-in hybrids rose to 1.8 million units in June, Rho Motion data showed. Sales in China jumped 28% from the same month last year to 1.11 million vehicles. Europe posted a 23% increase to about 390,000 units, while North American sales fell 9% to over 140,000. Sales in the rest of the world surged 43% to exceed 140,000 vehicles. KEY QUOTE "There's been reports over the last few months of a slowdown potentially in China" due to some cities running out of subsidies, Lester said. "But overall, we'd expect in (the second half) for more subsidy amounts to be available," leading to a "big boost" in volumes towards the end of the year, he added.
TimesLIVE
14 hours ago
- Automotive
- TimesLIVE
Global EV sales jump 24% in June
Global sales of electric and plug-in hybrid vehicles jumped 24% in June from a year ago as a switch to electric vehicles maintained momentum in China and Europe, market research firm Rho Motion said on Tuesday. However, EV sales in the US were down 1% in the month and will struggle to pick up this year after President Donald Trump's spending bill cut tax credits sooner than anticipated, Rho Motion's data manager Charles Lester said. North America, also weighed by slowing sales in Canada, lagged for the first time behind the "rest of the world" countries, which include emerging markets in Southeast Asia and South and Central America, Lester said. Global carmakers face a 25% import tariff in the US, the world's second-largest car market, causing many to withdraw their outlooks for 2025. In Europe incentives for retail and fleet buyers in key markets such as Germany and Spain, alongside a growing availability of cheap EVs, are expected to support electric car sales through the second half of the year. While some of the most successful EVs in the small vehicle segment are produced by European carmakers such as Volkswagen and Renault, those by Chinese brands including BYD are taking up market share in the continent and driving growth in emerging markets, Lester said. Global sales of battery-electric vehicles and plug-in hybrids rose to 1.8-million units in June, Rho Motion data showed. Sales in China jumped 28% from the same month last year to 1.11-million vehicles. Europe posted a 23% increase to about 390,000 units, while North American sales fell 9% to more than 140,000. Sales in the rest of the world surged 43% to exceed 140,000 vehicles. "There's been reports over the past few months of a slowdown potentially in China" due to some cities running out of subsidies, Lester said. "However, overall we'd expect in (the second half) more subsidy amounts to be available", leading to a "big boost" in volumes towards the end of the year, he said.
Business Times
19 hours ago
- Automotive
- Business Times
Global EV sales jump 24% in June though North American market struggles: research firm
GLOBAL sales of electric and plug-in hybrid vehicles jumped 24 per cent in June from a year ago, as a switch to electric vehicles maintained momentum in China and Europe, market research firm Rho Motion said on Tuesday. Still, EV sales in the United States were down 1 per cent in the month and will struggle to pick up this year, after President Donald Trump's spending bill cut tax credits sooner than anticipated, Rho Motion's data manager Charles Lester said. North America, also weighed by slowing sales in Canada, lagged for the first time behind the 'rest of the world' countries, which include emerging markets in Southeast Asia and South and Central America, Lester said. Tariffs Global automakers face a 25 per cent import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. In Europe, incentives for retail and fleet buyers in key markets such as Germany and Spain, alongside a growing availability of cheap EVs, are expected to support electric car sales through the second half of the year. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up While some of the most successful EVs in the small vehicle segment are produced by European carmakers such as Volkswagen and Renault, those by Chinese brands including BYD are taking up market share in the continent and driving growth in emerging markets, Lester said. Global sales of battery-electric vehicles and plug-in hybrids rose to 1.8 million units in June, Rho Motion data showed. Sales in China jumped 28 per cent from the same month last year to 1.11 million vehicles. Europe posted a 23 per cent increase to about 390,000 units, while North American sales fell 9 per cent to over 140,000. Sales in the rest of the world surged 43 per cent to exceed 140,000 vehicles. 'There's been reports over the last few months of a slowdown potentially in China' due to some cities running out of subsidies, Lester said. 'But overall, we'd expect in (the second half) for more subsidy amounts to be available,' leading to a 'big boost' in volumes towards the end of the year, he added. REUTERS
Reuters
a day ago
- Automotive
- Reuters
Global EV sales jump 24% in June though North American market struggles, research firm says
July 15 (Reuters) - Global sales of electric and plug-in hybrid vehicles jumped 24% in June from a year ago, as a switch to electric vehicles maintained momentum in China and Europe, market research firm Rho Motion said on Tuesday. Still, EV sales in the United States were down 1% in the month and will struggle to pick up this year, after President Donald Trump's spending bill cut tax credits sooner than anticipated, Rho Motion's data manager Charles Lester said. North America, also weighed by slowing sales in Canada, lagged for the first time behind the "rest of the world" countries, which include emerging markets in Southeast Asia and South and Central America, Lester said. Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. In Europe, incentives, opens new tab for retail and fleet buyers in key markets such as Germany and Spain, alongside a growing availability of cheap EVs, are expected to support electric car sales through the second half of the year. While some of the most successful EVs in the small vehicle segment are produced by European carmakers such as Volkswagen ( opens new tab and Renault ( opens new tab, those by Chinese brands including BYD ( opens new tab are taking up market share in the continent and driving growth in emerging markets, Lester said. Global sales of battery-electric vehicles and plug-in hybrids rose to 1.8 million units in June, Rho Motion data showed. Sales in China jumped 28% from the same month last year to 1.11 million vehicles. Europe posted a 23% increase to about 390,000 units, while North American sales fell 9% to over 140,000. Sales in the rest of the world surged 43% to exceed 140,000 vehicles. "There's been reports over the last few months of a slowdown potentially in China" due to some cities running out of subsidies, Lester said. "But overall, we'd expect in (the second half) for more subsidy amounts to be available," leading to a "big boost" in volumes towards the end of the year, he added.
