According to market research firm Rho Motion on Friday, global sales of fully electric and plug-in hybrid vehicles increased 15% in August compared to the same month last year, which is the slowest growth rate since January and reflects more difficult comparisons.
In August, China’s EV sales growth slowed to 6% from an average of 36% each month in the first half. According to Charles Lester, data manager at Rho Motion, China sales are still anticipated to be robust in the fourth quarter as new funding becomes available for its subsidy programs and the typical seasonal comeback.
The significance of
More than half of all EV sales worldwide, including plug-in hybrids and battery-electric vehicles, occur in China, the largest automobile market in the world.
