Over one million Electric Vehicles were sold globally in January, according to the leading EV and energy transition research house, Rho Motion.
The most EVs ever sold in January, up 69% from January 2023 when 660,000 were sold.
In the EU & EFTA & UK, EV sales have grown by 29% y-o-y, 41% in the USA & Canada, and almost doubled in China.
With January being the seasonal low of the year following the high of December, the month-on-month sales figures declined 26% compared to a m-o-m decline of 48% in January 2023.
Europe in particular saw the largest m-o-m decline (32%) in terms of regions due to the abrupt end to EV subsidies in Germany and the reduction in France. In Germany, EV sales halved m-o-m following the end of the subsidy. However, y-o-y sales increased by 40%. Likewise in France, EV sales also halved m-o-m but saw a 20% increase y-o-y. Europe in total increased sales by just shy of a third (29%) compared to January of last year demonstrating the demand for electric vehicles is well established now.
As for North America, the market continues to blossom there with a 41% increase y-o-y, and a 14% decrease m-o-m.
China goes from strength to strength almost doubling last year’s January sales figure accounting for 640,000 of the EVs sold globally.
Charles Lester, Leading EV Data Analyst, said: “January’s global EV sales have started the year strong with over one million units sold despite subsidy cuts.”
