Global electric vehicle sales growth slows to weakest pace since February 2024
Global electric vehicle registrations rose 6% in November to just under 2 million units, marking the slowest year-on-year growth rate since February 2024, data from Benchmark Mineral Intelligence showed.
China, the world’s largest market, logged growth of 3% to more than 1.3 million registrations, its weakest annual pace since February 2024. North America, meanwhile, fell 42% to just over 100,000 vehicles after a purchase credit program ended, bringing the region’s year-to-date registrations down 1%.
Registrations across Europe, including battery electric vehicles and plug-in hybrids, rose 36% in November to more than 400,000 units, supported by national incentive programs. Outside China, Europe, and North America, registrations increased 35% to around 160,000 vehicles.
The latest figures arrive as some governments and automakers reassess timelines and policy settings tied to the shift toward electric vehicles, amid concerns about costs, margins, and jobs. In the United States, President Donald Trump proposed lowering fuel-efficiency standards last week, which could affect the pace of adoption if implemented.
In China, Benchmark noted that planned reductions in government support at the end of the year could influence consumer sentiment in the next phase. And In the Gulf, Saudi Arabia has stated ambitions to raise electric vehicle adoption from roughly 1% to 30% within five years.
