Global EV sales reach record high in November

Leading electric vehicle (EV) data analysis firm Rho Motion has revealed that global EV sales in November reached a record-breaking 1.4 million EVs.

In November, the year-on-year (YoY) growth in EV sales was up 20%.

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The figures, released by Rho Motion this week, indicate robust market growth of 8% compared to the previous month.

This marks 2023 as the most successful year for electric vehicle (EV) sales in history.

When it comes to the last month of the year, December, Charles Lester, Data Manager at Rho Motion, said, “Sales have continued to rise despite a lot of negative sentiment in the market, and we’re expecting sales to remain strong.”.

In Europe, battery-electric vehicles have experienced a remarkable 37% year-to-date increase compared to 2022.

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Sales of plug-in hybrid electric vehicles have remained steady since the beginning of the year, according to Rho Motion.

In China, where November and December typically mark the annual peak for sales, Rho said this trend looks set to continue in 2023, with November showing a month-on-month increase of 9%.

North America has witnessed the most significant year-on-year sales surge, with a notable 43% jump in total sales.

While Tesla and BYD still dominate the market, legacy car manufacturers are quickly rampig up production and taking market shares. For example, General Motors sales in North America alone were up by 16.5% at the end of three months on September 30, 2023.

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