Despite forecasts predicting a slowdown in the electric vehicle market for 2024, September's sales surge of 1.7 million, a 30.5% increase year-on-year, defies expectations.
Charles Lester of Rho Motion emphasized that while September's record sales of 1.7 million EVs instilled optimism, a striking 60% of these sales came from China, showcasing significant regional disparities.
While Chinese EV makers expand internationally, they face hurdles like tariffs, with the EU imposing duties for alleged state subsidies impacting their growth and access to European markets.
The European market shows signs of stagnation, reporting a 4% drop in EV sales with just 2.2 million vehicles sold in the first nine months, highlighting growing challenges.
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