Global EV sales growth slowed in November as China's market plateaued, with registrations rising just 6% amid reduced government subsidies.
Global electric vehicle (EV) sales in November experienced their slowest growth since February 2024, primarily due to a plateau in China's market, according to a report by Reuters.
Out of the 1.98 million EVs sold worldwide in November, 1.32 million were sold in China. Global EV registrations, which serve as a proxy for sales, rose by 6% to just under two million units.
In China, registrations increased by only 3% to more than 1.3 million, marking the lowest year-on-year growth since February 2024. The country continues to account for over half of global EV sales.
Analysts suggest that reduced government subsidies towards the end of the year may negatively impact consumer sentiment in China, the world's largest car market.