Market research company RhoMotion said on Tuesday that global sales of pure electric and plug-in hybrid vehicles increased by 30.5% year-on-year in September, with China's September sales hitting a record high. RhoMotion data manager Charles Lester said in an interview that since the United States will hold a formal election on November 5, sales growth in the U.S. market is slow and steady, making it difficult to predict future trends.

China’s market is eye-catching

RhoMotion data shows that global electric vehicle sales hit a record high in September, reaching 1.7 million units. September sales were 150,000 vehicles higher than the record set in December 2023. Overall, global electric vehicle sales have reached 11.5 million so far this year, a year-on-year increase of 22%.


It is worth mentioning thatAfter sales exceeded 1 million units for the first time in August 2024, electric vehicle sales in the Chinese market increased by 47.9% in September and set another record, reaching 1.12 million units.

RhoMotion said that in the Chinese market, the penetration rate of pure electric and plug-in hybrid vehicles is growing faster than some people expected."By the end of the year, sales are likely to hit records every month."

The latest data released by the Passenger Car Market Information Joint Branch of the China Automobile Dealers Association shows that the domestic retail penetration rate of new energy vehicles has exceeded 50% for three consecutive months, reaching 53.3% in September, an increase of 16.8 percentage points from September 2023, and the penetration rate remains high.

The data also showed that the new energy passenger vehicle market retailed 1.123 million units in September, a year-on-year increase of 50.9% and a month-on-month increase of 9.6%. Retail sales from January to September 2024 were 7.132 million units, a year-on-year increase of 37.4%.Self-owned brands BYD, Li Auto and Xpeng Motors all set their best monthly sales records in history in September.

Export volume also maintained a growth momentum: 105,000 new energy passenger vehicles were exported in September, a year-on-year increase of 19.3% and a month-on-month increase of 6.0%. From January to September 2024, 968,000 vehicles were exported, a year-on-year increase of 30.2%.

Market development is mixed

In addition, sales in the United States and Canada increased by 4.3% to 150,000 vehicles; sales in Europe increased by 4.2% to 300,000 vehicles, thanks to a 24% increase in sales in the United Kingdom, as well as sales growth in Italy, Germany and Denmark.

William Roberts, director of automotive research at RhoMotion, said they expect European electric vehicle sales to reach 3.78 million units in 2025 and 9.78 million units in 2030, which are 24% and 19% lower than previous forecasts respectively.

Lester commented: “This record-breaking (global) electric vehicle sales brings new hope to the industry. However,The regional differences are striking, with China alone accounting for more than half of the global total, while numbers in Europe are shrinking and the United States and Canada are growing steadily. "