EV Sales Strong as Year Wanes
Global deliveries surge as U.S. and Canada post robust growth.
Forecast shows a strong U.S.-Canada EV sales finish to the year as U.S. consumers tap federal EV tax credits that the incoming Trump administration has said it wants to eliminate.
Pexels/Kindel Media
Global electric-vehicle sales ticked up to a new record in November, and combined U.S.-Canada sales saw a healthy bump.
Worldwide EV sales rose 100,000 units to 1.8 million units, according to London-based EV sector researcher Rho Motion.
Year-to-date global EV deliveries are up sharply year-over-year – 25% to 15.2 million, Rho Motion data show, while U.S. and Canada sales alone have grown by 10% to 1.6 million.
Rho Motion forecasts a strong U.S.-Canada sales finish to the year as U.S. consumers tap federal EV tax credits that the incoming Trump administration has said it wants to eliminate.
China, an EV sales juggernaut, sold nearly 1.3 million units in November, surpassing its previous record set in October by 50,000, and is up 40% year-to-date to 9.7 million, Rho Motion said.
Meanwhile, sales in Europe are down 3% year-to-date, the only region seeing a decline.
DIG DEEPER: Auto Dealers Bullish On Market
More Industry
Longtime Ford Store Changes Hands
The Virginia dealership joins a small area automotive group in a one-dealership transaction, moving from one family franchisee to another.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
ASE Seeks Accurate Technician Pay, Benefits Data
New free membership trial removes cost barrier for dealerships and shops willing to contribute anonymous information to the industry data exchange.
Read More →
No Longer Worth the Price?
Mass-market auto brands are gaining ground on luxury competitors with what used to be premium features, helped along by the pressure of high vehicle prices dogging budget-conscious shoppers.
Read More →
Dealer Debrief: Colorful Cars & BMW Backlash
In this week's debrief, host Lauren Lawrence discusses the first Slate vehicles and the BMW x Spider-Man collab that has sparked some privacy concerns.
Read More →
Georgia Auto Group to Be Sold
Major U.S. player Group 1 signed an agreement to purchase the Atlanta-area stores across multiple brands from a longtime market leader.
Read More →
Dealer Debrief: Four-Figure Loan Payments
In this week's debrief, host Lauren Lawrence discusses the rise in $1,000-plus loan payments and the factors affecting the increase.
Read More →
July Auto Sales Simmer
Deliveries were up modestly from a year ago despite still-high prices as OEMs offered more incentives and loan rates eased somewhat.
Read More →
Toyota Financial Services Adds to HQ
The subsidiary says the new Texas facility is designed to foster collaboration and innovation with the aim of future growth.
Read More →
Four-Figure Loan Payments on the Rise
A LendingTree analysis found that location, age and credit score play a role in the rising amount of auto loan borrowers who make monthly payments of $1,000 or more.
Read More →