① In September, the global sales of pure electric and plug-in hybrid cars increased by 30.5% year-on-year, with China's sales reaching a historic high again. ② Data from Rho Motion shows that in September, global electric vehicle sales reached a record high of 1.7 million units.
On October 15th, according to Caixin Global (Editor: Huang Junzhi), market research firm Rho Motion stated on Tuesday that the sales of global pure electric and plug-in hybrid cars increased by 30.5% year-on-year in September, with China's sales in September setting a new record high.
Rho Motion's data manager Charles Lester stated in an interview that due to the U.S. holding its official presidential election on November 5th, sales growth in the U.S. market is slow and stable, making it difficult to predict future trends.
China's Market Shines
Rho Motion's data shows that in September, global electric vehicle sales hit a new record, reaching 1.7 million units. The sales in September were 0.15 million units higher than the record set in December 2023. Overall, as of this year, global electric vehicle sales have reached 11.5 million units, an increase of 22% year-on-year.
It is worth mentioning that following the first-time breakthrough of 1 million units in August 2024, the Chinese market saw a record increase of 47.9% in electric vehicle sales in September, reaching 1.12 million units.
Rho Motion stated that in the Chinese market, the penetration rate of pure electric and plug-in hybrid cars is growing faster than some people expected, and "by the end of this year, sales in each month may set a new record".
The latest data released by the China Passenger Vehicle Market Joint Information Committee of China Automobile Circulation Association shows that the domestic retail penetration rate of new energy vehicles has exceeded 50% for three consecutive months, reaching 53.3% in September, an increase of 16.8 percentage points from September 2023, maintaining a high penetration rate.
The data also shows that in September, the new energy passenger vehicle market retailed 1.123 million vehicles, a year-on-year increase of 50.9% and a month-on-month increase of 9.6%. From January to September 2024, the retail sales reached 7.132 million vehicles, a year-on-year increase of 37.4%. Independent brands BYD, li auto inc, and xpeng all achieved their best-ever monthly sales records in September.
Export volume also maintained growth momentum: in September, the export of new energy passenger vehicles reached 0.105 million vehicles, a year-on-year increase of 19.3% and a month-on-month increase of 6.0%. From January to September 2024, the exports reached 0.968 million vehicles, a year-on-year increase of 30.2%.
The market development varies.
In addition, sales in the USA and Canada market increased by 4.3% to 0.15 million vehicles; sales in Europe increased by 4.2% to 0.3 million vehicles, thanks to a 24% growth in the UK, as well as growth in Italy, Germany, and Denmark.
Rho Motion's automotive research director William Roberts stated that they expect electric vehicle sales in Europe to reach 3.78 million vehicles by 2025 and 9.78 million vehicles by 2030, lower by 24% and 19% compared to previous forecasts.
Lester commented, 'This record-breaking global electric vehicle sales bring new hope to the industry. However, the regional differences are striking, with China alone accounting for over half of the global total, while Europe's numbers are declining, and the USA and Canada are steadily growing.'
