On October 15, market research firm Rho Motion reported that global sales of all-electric and plug-in hybrid vehicles grew by 30.5% year-on-year in September. China exceeded the all-time high set in August, while Europe saw a recovery in sales.

Data Manager Charles Lester noted that U.S. stock markets have been rising slowly but steadily in anticipation of the November 5 elections, making it difficult to predict future trends in the U.S.

Despite import tariffs as high as 45% and a cooling demand for electric vehicles worldwide, Chinese automakers are still seeking to expand sales in the European Union. On October 14, Chinese and European automakers competed fiercely at the Paris Motor Show.

According to Rho Motion, global electric vehicle sales in September, including both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), reached 1.69 million units.

In September, China’s vehicle sales surged 47.9% to 1.12 million units, while sales in the U.S. and Canada increased by 4.3% to 150,000 units.

Lester stated that in Europe, electric vehicle sales rose by 4.2% to 300,000 units, driven by a 24% increase in the UK, as well as growth in Italy, Germany, and Denmark.

Lester further mentioned that in the Chinese market, the adoption rate of BEVs and PHEVs is growing faster than expected, saying, "Monthly sales could hit new records by the end of this year."

He added that Germany's 7% year-on-year growth is "definitely good news," but the EU’s mid-term carbon reduction targets set for next year will test the European market.

William Roberts, Head of Automotive Research at Rho Motion, projected that electric vehicle sales in Europe will reach 3.78 million units by 2025 and 9.78 million units by 2030, down 24% and 19% from previous forecasts, respectively.

Earlier this month, France announced a plan to reduce support for electric vehicle buyers, while Germany agreed in September to offer tax breaks for businesses on electric vehicle purchases, following the end of its subsidy program last year aimed at accelerating the green transition.

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