Global sales of fully electric and plug-in hybrid vehicles jumped 26 percent year-on-year in September to a record 2.1 million units, fueled by strong demand in China and a rush by US buyers to secure tax credits before they expired.
According to market research firm Rho Motion, China accounted for about 1.3 million units, or nearly two-thirds of global sales. September is traditionally the country’s busiest month for car buying, and demand was boosted further as consumers sought to take advantage of trade-in subsidies before they were phased out in some regions.
In North America, sales climbed 66 percent to about 215,000 units, marking a record month. The surge was largely driven by buyers racing to claim the $7,500 federal EV tax credit, which expired for many consumers and businesses at the end of the quarter. Analysts expect demand to cool significantly in the fourth quarter as those incentives disappear.
Europe also posted a strong performance, with sales rising 36 percent to 427,541 units. Incentives in Germany and robust demand in the UK contributed to the growth, while Tesla’s rollout of a lower-cost Model Y is expected to intensify competition in the months ahead.
Sales in the rest of the world rose 48 percent to 153,594 units, underscoring the global momentum behind electrification.
Why It Matters
China remains the world’s largest car market and accounts for more than half of global EV sales. The September surge highlights how government incentives and policy shifts continue to shape consumer behavior. In the US, the expiration of tax credits shows how quickly demand can fluctuate when subsidies are removed. Europe’s growth, meanwhile, reflects both policy support and increasing consumer acceptance of EVs.
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