Latest news with #CharlesLester
Yahoo
16-05-2025
- Automotive
- Yahoo
EV sales are surging globally — but growth in North America is lagging
Global EV sales surged 29% in the first four months of the year, led by China and Europe. North America posted growth of just 5% according to data from Rho Motion. China's 35% sales boost was driven by trade-in schemes, while EV sales jumped in Europe too. EV sales are booming globally — but growth in North America lags the rest of the world. Global EV sales jumped 29% to 5.6 million in the first four months of the year compared with the same period in 2024, according to data released Wednesday by EV research firm Rho Motion. In April alone, 1.5 million EVs were sold worldwide. However, EV sales in North America — the US, China, and Mexico — rose by just 5%, or 600,000 vehicles. Battery electric vehicle sales in the region rose 7%, while plug-in hybrid sales increased only 1%. Tesla sold 128,100 vehicles in the US in the first quarter of the year, down 8.6% from the same time last year and 21% lower than 2023, per Cox Automotive data. It remains the biggest EV brand despite its market share falling from 51% to 44% over the past year. Mexico, meanwhile, was a bright spot, with EV sales nearly doubling. Unlike their American counterparts, Mexican drivers can buy Chinese-made vehicles. In Europe, stricter emissions targets pushed sales up 25%, with growth of more than 40% in countries including Italy, Spain, and Germany. "The EU is certainly the success story for EV sales in 2025 so far," said Charles Lester, data manager at Rho Motion. "In China, that year-on-year sales increase is even greater at 35%, spurred on by the vehicle trade-in scheme." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
16-05-2025
- Automotive
- Business Insider
EV sales are surging globally — but growth in North America is lagging
EV sales are booming globally — but growth in North America lags the rest of the world. Global EV sales jumped 29% to 5.6 million in the first four months of the year compared with the same period in 2024, according to data released Wednesday by EV research firm Rho Motion. In April alone, 1.5 million EVs were sold worldwide. However, EV sales in North America — the US, China, and Mexico — rose by just 5%, or 600,000 vehicles. Battery electric vehicle sales in the region rose 7%, while plug-in hybrid sales increased only 1%. Tesla sold 128,100 vehicles in the US in the first quarter of the year, down 8.6% from the same time last year and 21% lower than 2023, per Cox Automotive data. It remains the biggest EV brand despite its market share falling from 51% to 44% over the past year. Mexico, meanwhile, was a bright spot, with EV sales nearly doubling. Unlike their American counterparts, Mexican drivers can buy Chinese-made vehicles. In Europe, stricter emissions targets pushed sales up 25%, with growth of more than 40% in countries including Italy, Spain, and Germany. "The EU is certainly the success story for EV sales in 2025 so far," said Charles Lester, data manager at Rho Motion.
Yahoo
14-05-2025
- Automotive
- Yahoo
Global EV sales up almost 30% in April, with the US falling behind
Global sales of electric and plug-in hybrid vehicles increased 29% in April, compared with the same month a year earlier, according to data published by EV research group Rho Motion on Wednesday. The number of electric vehicles sold came to 1.5 million in April, a drop of 12% compared to March 2025. In the period from January to April, meanwhile, there were 5.6m EVs sold worldwide, representing a year-on-year jump of 29%. 'Ongoing tariff negotiations are dominating talk in the electric vehicle industry but quietly, domestic manufacturers in China and the EU continue to perform well and grow market share,' Charles Lester, Rho Motion Data Manager, said in a press release. He continued: 'The EU is certainly the success story for EV sales in 2025 so far, with emissions targets lighting a fire under the industry to accelerate the switch to electric.' From January to April, sales in Europe were up 25% on the year, China saw a 35% rise, North America saw a 5% rise, while the rest of the world saw a 37% rise. In April alone, Europe saw growth of 35%, China 32%, while sales fell 5.6% in North America. In the rest of the world, April sales rose 51%. 'EV adoption is accelerating – but politics, not technology, will decide who leads and who lags,' Christian Brand, emeritus professor in transport, energy & climate change at Oxford University, told Euronews. As China and Europe are steaming ahead, he explained that the US is 'hindered by policy uncertainties and potential tariff implementations under President Trump's administration, which could dampen investor confidence and slow market growth'. During his time in office, former President Biden introduced a raft of tax incentives for clean electricity projects, meaning Americans can currently claim a deduction of up to $7,500 (€6,679) for qualifying EV purchases. Related Are EV sales boosting Europe's car market despite global uncertainty? BMW's China sales drop to lowest level in five years at start of 2025 These green incentives could soon be on the chopping block, as Republicans seek to fund their own brand of tax cuts. Draft legislation released this week proposes to eliminate the $7,500 credit scheme by the end of 2026. Added to this, only manufacturers that have sold fewer than 200,000 EVs by the end of 2025 would be eligible for the credit in 2026. According to the draft legislation, tax incentives for commercial and second-hand EVs could also be scrapped. The Chinese government, on the other hand, is seeking to boost EV sales to support its flailing economy, still bogged down by the effects of a property crisis, geopolitical tensions, and weak consumer and business confidence. Buyers who trade in an old car for a new EV or hybrid vehicle will receive a 20,000 yuan (€2,471) subsidy. US President Trump's tariffs on imported cars and car parts, set at 25%, is also causing a headache for automakers in the US, even after concessions were offered. Trump signed an executive order at the end of April to provide relief from tariff 'stacking', meaning firms that pay levies on cars and parts will not have to pay other duties on steel and aluminium. For carmarkers with global supply chains, tariffs will still eat into profits directly and indirectly. There is the upfront cost of the levies to consider, but also dampened consumer appetite in the US. The US recently struck deals with the UK and China on tariffs, and potential deals with South Korea, Japan, and the EU could be in the pipeline. If there are major breakthroughs with these partners, this could provide the EV industry with an added boost. More than one in four cars sold worldwide this year is set to be electric, according to the International Energy Agency. For Professor Christian Brand, the shift to EVs is — however — still a 'gradual evolution rather than a swift revolution'. 'The transition to electric vehicles is not merely about changing propulsion systems; it's about reconfiguring entire value chains, the maintenance and repair sector, the recharging/refuelling sector, and so on,' he told Euronews. 'Businesses must navigate a complex landscape of evolving regulations, supply chain challenges and shifting consumer expectations to remain competitive in this transforming market.'
Euronews
14-05-2025
- Automotive
- Euronews
Global EV sales up almost 30% in April, with the US falling behind
Global sales of electric and plug-in hybrid vehicles increased 29% in April, compared with the same month a year earlier, according to data published by EV research group Rho Motion on Wednesday. The number of electric vehicles sold came to 1.5 million in April, a drop of 12% compared to March 2025. In the period from January to April, meanwhile, there were 5.6m EVs sold worldwide, representing a year-on-year jump of 29%. 'Ongoing tariff negotiations are dominating talk in the electric vehicle industry but quietly, domestic manufacturers in China and the EU continue to perform well and grow market share,' Charles Lester, Rho Motion Data Manager, said in a press release. He continued: 'The EU is certainly the success story for EV sales in 2025 so far, with emissions targets lighting a fire under the industry to accelerate the switch to electric.' From January to April, sales in Europe were up 25% on the year, China saw a 35% rise, North America saw a 5% rise, while the rest of the world saw a 37% rise. In April alone, Europe saw growth of 35%, China 32%, while sales fell 5.6% in North America. In the rest of the world, April sales rose 51%. 'EV adoption is accelerating – but politics, not technology, will decide who leads and who lags,' Christian Brand, emeritus professor in transport, energy & climate change at Oxford University, told Euronews. As China and Europe are steaming ahead, he explained that the US is 'hindered by policy uncertainties and potential tariff implementations under President Trump's administration, which could dampen investor confidence and slow market growth'. During his time in office, former President Biden introduced a raft of tax incentives for clean electricity projects, meaning Americans can currently claim a deduction of up to $7,500 (€6,679) for qualifying EV purchases. These green incentives could soon be on the chopping block, as Republicans seek to fund their own brand of tax cuts. Draft legislation released this week proposes to eliminate the $7,500 credit scheme by the end of 2026. Added to this, only manufacturers that have sold fewer than 200,000 EVs by the end of 2025 would be eligible for the credit in 2026. According to the draft legislation, tax incentives for commercial and second-hand EVs could also be scrapped. The Chinese government, on the other hand, is seeking to boost EV sales to support its flailing economy, still bogged down by the effects of a property crisis, geopolitical tensions, and weak consumer and business confidence. Buyers who trade in an old car for a new EV or hybrid vehicle will receive a 20,000 yuan (€2,471) subsidy. US President Trump's tariffs on imported cars and car parts, set at 25%, is also causing a headache for automakers in the US, even after concessions were offered. Trump signed an executive order at the end of April to provide relief from tariff 'stacking', meaning firms that pay levies on cars and parts will not have to pay other duties on steel and aluminium. For carmarkers with global supply chains, tariffs will still eat into profits directly and indirectly. There is the upfront cost of the levies to consider, but also dampened consumer appetite in the US. The US recently struck deals with the UK and China on tariffs, and potential deals with South Korea, Japan, and the EU could be in the pipeline. If there are major breakthroughs with these partners, this could provide the EV industry with an added boost. More than one in four cars sold worldwide this year is set to be electric, according to the International Energy Agency. For Professor Christian Brand, the shift to EVs is — however — still a 'gradual evolution rather than a swift revolution'. 'The transition to electric vehicles is not merely about changing propulsion systems; it's about reconfiguring entire value chains, the maintenance and repair sector, the recharging/refuelling sector, and so on,' he told Euronews. 'Businesses must navigate a complex landscape of evolving regulations, supply chain challenges and shifting consumer expectations to remain competitive in this transforming market.'
TimesLIVE
14-05-2025
- Automotive
- TimesLIVE
World EV sales rise in April despite trade tensions
Global sales of electric and plug-in hybrid vehicles rose 29% year-on-year in April, with stable growth in China and Europe despite trade tensions, while North America recorded the first fall since last September, data showed on Wednesday. European EV sales of legacy auto groups that are seeking to sell less polluting models to meet EU CO2 emission targets outperformed those of Tesla. Tesla continued to lose market share ahead of a revamp of its popular Model Y, Rho Motion data manager Charles Lester said. China-based EV makers continued to increase domestic sales of battery-electric vehicles while responding to growing demand for plug-in hybrids offshore, he said. Global carmakers face a 25% import tariff in the US, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. US President Donald Trump's stance towards emissions standards and uncertainties around tariffs also hampered EV growth in North America. His deals this month with Britain and China only affect EV sales marginally, but are positive signs for the industry ahead of his potential talks with Korea, Japan and the EU, Lester said. Global sales of battery-electric vehicles and plug-in hybrids rose to 1.5-million in April, the Rho Motion data showed. Sales in China were up 32% from the same month of 2024 to 0.9-million vehicles. Europe reported a 35% year-on-year increase in registrations to 0.3-million cars sold, while in North America they fell 5.6% to 0.1-million. In the rest of the world, April sales rose by 50%. "The plug-in hybrids have almost doubled year to date in the rest of the world, but the main reason for that is the Chinese exports," Lester said. Governments worldwide are adopting policies to encourage EV adoption, while trade tensions and slowing car markets could foreshadow plant closures and job losses. China extended its car trade-in subsidies into 2025 as part of an expanded consumer trade-in scheme in January to try to avert a slowdown in EV sales while reviving economic growth.
