Eastern time on Wednesday, industry intelligence consulting agency Rho Motion released data showing that despite Trump's global trade tensions, global sales of pure electric and plug-in hybrid vehicles in April still increased by 29% year-on-year.
Among them, the sales in the Chinese and European markets maintained a stable rise, while the North American market experienced its first decline since September of last year.
The sales of Sino-European electric vehicles are rising.
According to Rho Motion, global sales of battery electric vehicles and plug-in hybrids rose to 1.5 million units in April; Sales in China increased by 32% y/y to 900,000 units.
Electric vehicle sales in Europe rose by 35% year-on-year to 300,000 units, while electric vehicle registrations in North America fell by 5.6% year-on-year to 100,000 units.
In other parts of the world (Latin America, Africa, etc.), electric vehicle sales in April rose by 50% year-on-year.
Leicester stated: "So far, the sales of plug-in hybrid vehicles in other parts of the world have nearly doubled, primarily due to exports from China."
In January this year, as part of the consumption stimulus policy, the Chinese government extended the subsidy for trading in old cars for new ones until 2025, which stimulated the sales of electric vehicles. At the same time, several European governments are also implementing policies to encourage the popularization of electric vehicles.
In contrast, Trump's stance on U.S. emissions standards and the uncertainty of tariffs have hindered the sales of electric vehicles in the North American market.
Tesla's market share continues to decline.
Specifically, among the global electric vehicle companies, Tesla's market share is obviously occupied by other brands.
In order to meet the EU's carbon dioxide emission targets, traditional car groups in the EU are promoting the sale of electric vehicle models in Europe, which has led to European brands' electric vehicle sales surpassing those of Tesla.
Meanwhile, China's electric vehicle manufacturers are also continuing to increase the domestic sales of pure electric vehicles while responding to the rising demand overseas for plug-in hybrid vehicles.
Rho Motion data manager Charles Lester expects that Tesla's market share has been declining ahead of improvements to its most popular Model Y.
Positive signs have emerged regarding Trump's tariffs.
In April of this year, the tariff policy announced by Trump threw the global automotive industry into chaos.
The United States is the second largest automotive market in the world, and Trump's policy will impose a 25% import tariff on global automakers in the U.S. market, leading many automakers to withdraw their performance outlook for 2025.
Mr. Lester said Mr. Trump's trade deals with Britain and China this month would have little impact on EV sales, but until he negotiated with South Korea, Japan and the European Union, it was at least a positive sign for the auto industry.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Fearless of the "Trump Shock"! Global electric vehicle sales surged strongly in April, with the Chinese market increasing by 32%.
Eastern time on Wednesday, industry intelligence consulting agency Rho Motion released data showing that despite Trump's global trade tensions, global sales of pure electric and plug-in hybrid vehicles in April still increased by 29% year-on-year.
Among them, the sales in the Chinese and European markets maintained a stable rise, while the North American market experienced its first decline since September of last year.
The sales of Sino-European electric vehicles are rising.
According to Rho Motion, global sales of battery electric vehicles and plug-in hybrids rose to 1.5 million units in April; Sales in China increased by 32% y/y to 900,000 units.
Electric vehicle sales in Europe rose by 35% year-on-year to 300,000 units, while electric vehicle registrations in North America fell by 5.6% year-on-year to 100,000 units.
In other parts of the world (Latin America, Africa, etc.), electric vehicle sales in April rose by 50% year-on-year.
Leicester stated: "So far, the sales of plug-in hybrid vehicles in other parts of the world have nearly doubled, primarily due to exports from China."
In January this year, as part of the consumption stimulus policy, the Chinese government extended the subsidy for trading in old cars for new ones until 2025, which stimulated the sales of electric vehicles. At the same time, several European governments are also implementing policies to encourage the popularization of electric vehicles.
In contrast, Trump's stance on U.S. emissions standards and the uncertainty of tariffs have hindered the sales of electric vehicles in the North American market.
Tesla's market share continues to decline.
Specifically, among the global electric vehicle companies, Tesla's market share is obviously occupied by other brands.
In order to meet the EU's carbon dioxide emission targets, traditional car groups in the EU are promoting the sale of electric vehicle models in Europe, which has led to European brands' electric vehicle sales surpassing those of Tesla.
Meanwhile, China's electric vehicle manufacturers are also continuing to increase the domestic sales of pure electric vehicles while responding to the rising demand overseas for plug-in hybrid vehicles.
Rho Motion data manager Charles Lester expects that Tesla's market share has been declining ahead of improvements to its most popular Model Y.
Positive signs have emerged regarding Trump's tariffs.
In April of this year, the tariff policy announced by Trump threw the global automotive industry into chaos.
The United States is the second largest automotive market in the world, and Trump's policy will impose a 25% import tariff on global automakers in the U.S. market, leading many automakers to withdraw their performance outlook for 2025.
Mr. Lester said Mr. Trump's trade deals with Britain and China this month would have little impact on EV sales, but until he negotiated with South Korea, Japan and the European Union, it was at least a positive sign for the auto industry.
(Source: Ke Chuang Ban Daily)
Source: Eastmoney
Author: Sci-tech Innovation Board Daily