Chinese automakers are aiming to expand their market share in the EU, facing import tariffs as high as 45% and a global decline in demand for electric vehicles.
Global electric and hybrid vehicle sales soared by 30.5% in September, according to market research firm Rho Motion. This increase is largely driven by a surge in China and a resumed growth in Europe, setting a new monthly sales record of 1.69 million vehicles globally. The rise in China was particularly significant, with sales climbing 47.9% to 1.12 million vehicles. In contrast, growth in the United States and Canada was more modest at 4.3%, totalling 150,000 vehicles.
Europe also saw an increase in electric vehicle (EV) sales by 4.2%, reaching 300,000 units. This growth was bolstered by substantial sales jumps in several countries, including a notable 24% in the United Kingdom. Italy, Germany, and Denmark also reported gains, contributing to the overall growth in the region.
The growing market share of both fully electric vehicles (BEVs) and plug-in hybrids (PHEVs) in China indicates a robust demand, with potential monthly sales records anticipated through the end of the year. Charles Lester, a data manager at Rho Motion, noted that the penetration rate of Battery Electric Vehicles (BEV) and Plug-in Hybrid Electric Vehicles (PHEV) is increasing more rapidly than anticipated.
The competitive landscape was also highlighted at the Paris car show, where Chinese and European automakers showcased their latest models despite the high import duties facing Chinese brands in the EU, which can reach up to 45%.
Rho Motion projects that EV sales in Europe will hit 3.78 million vehicles in 2025 and 9.78 million by 2030, though these figures represent a reduction of 24% and 19%, respectively, from previous forecasts. This revision is likely influenced by recent policy changes, such as France reducing its incentives for EV buyers and Germany introducing tax relief for companies’ EV sales after ending a subsidy scheme last year.
These developments underline the shifting dynamics in the global EV market, where policy, competition, and economic factors intertwine to shape the future trajectory of electric mobility.
