November Global EV and PHEV Sales Grow 6% YoY, North American Sales Plunge 42%

Deep News12-12

Data released by Benchmark Mineral Intelligence (BMI) on Friday showed that global electric vehicle (EV) sales growth in November—including both battery electric and plug-in hybrid models—slowed to its weakest pace since February 2024. The deceleration was driven by plateauing demand in China, while the expiration of U.S. EV tax credits triggered North America’s first sales decline since 2019.

BMI reported a 6% year-on-year increase in global EV registrations for November, totaling just under 2 million units.

In China, sales rose 3% to over 1.3 million vehicles, marking the slowest annual growth rate since February 2024.

North America saw EV registrations plummet 42% YoY to slightly above 100,000 units. Year-to-date, the region’s EV registrations have dipped 1%.

Europe bucked the trend with a 36% YoY surge in registrations to over 400,000 units, supported by national incentive programs.

Other global markets posted a 35% YoY increase in EV registrations, reaching nearly 160,000 units.

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