Global EV sales hit record 2.1 million in September, research firm says

Core Insights - Global sales of fully electric and plug-in hybrid vehicles increased by 26% in September, reaching a record 2.1 million units, driven by strong demand in China and a rush for U.S. tax credits [1][4] Group 1: Market Performance - China accounted for approximately two-thirds of global sales, with around 1.3 million units sold [1][4] - North American sales reached a record high, climbing 66% to about 215,000 units, influenced by buyers securing expiring incentives [4] - European sales rose by 36% to 427,541 units, supported by incentives in Germany and strong demand in Britain [4] Group 2: Future Outlook - U.S. demand is expected to decline sharply in the fourth quarter as federal incentives expire, impacting overall EV purchases [3][5] - Automakers like General Motors and Hyundai are attempting to mitigate the impact by offering discounts and utilizing dealer inventories, but overall production is being scaled back [5]