Global EV Sales Hit Record in November, Driven by China’s Surge

Global electric vehicle (EV) sales continued to surge in November, with 1.83 million units sold worldwide—a 32% year-over-year increase and the seventh consecutive month of growth. China remained the dominant market, accounting for nearly 70% of total sales, according to data from Rho Motion.

China leads the charge

Chinese EV sales reached 1.3 million units in November, up 50% year-on-year, bolstered by government incentives and strong demand for battery electric vehicles (BEVs). BEV sales alone added over 70,000 units month-on-month, driven by brands like Geely, Tesla, and Changan. On a year-to-date basis, plug-in hybrid EVs (PHEVs) have nearly doubled in sales, while BEVs grew by 18%.

"China certainly is in line with expectations," Charles Lester, Data Manager at Rho Motion, told Reuters. He highlighted the role of government policies in accelerating adoption, adding, "Penetration has been around about 50% for the last few months now."

Mixed results in other markets

While North American sales climbed 16.8% year-on-year to 170,000 units, bolstered by the Tesla Cybertruck launch in Canada and strong consumer demand ahead of anticipated tax credit changes, Europe continued to struggle. European EV sales fell 3% year-to-date, with key markets like Germany and France underperforming due to rising production costs and stricter CO2 regulations.

Courtesy of Rho Motion

A transformative year

With 15.2 million EVs sold globally through November—25% higher than the same period in 2023—the industry is poised to close the year with unprecedented figures. However, the uneven regional performance underscores the challenges facing automakers in Europe and North America, particularly as Chinese manufacturers gain a competitive edge.

The transformation of the EV market, driven by record-breaking growth in China, signals both opportunities and challenges as the industry braces for continued shifts in demand, regulation, and global competition.