Global sales of fully electric and plug-in hybrid vehicles rose 23% year-on-year in October to 1.9 million units, supported by surging demand in key markets, according to market research firm Rho Motion.
China remained the world’s largest electric vehicle (EV) market, accounting for more than half of total global EV sales, while Europe saw strong growth in Germany, France, and the United Kingdom. North America, however, recorded a sharp monthly decline following record highs in August and September.
See also: Ford Projects Smaller U.S. EV Market Share Following Tax Credit Expiry
“The price parity between electric and ICE vehicles in China is a lot closer when compared with the European or the North American markets,” said Charles Lester, data manager at Rho Motion. Chinese sales rose to around 1.3 million vehicles, while European EV sales jumped 36% to 372,786 units. Sales in North America dropped 41% to 100,370 units, and in the rest of the world, sales increased 37% to 141,368 units.
“In Europe, the overall year-to-date growth figure remains relatively high and we’re expecting strong sales towards the end of the year,” Lester added. “The Chinese automotive market is expected to show strong growth in November and December, helped by pull forward effect as the country is moving from a full purchase tax exemption to just a 50% exemption on NEVs,” he said.
See also: UK Electric Vehicle Sales Surge in October as BEVs Capture Record 26% Market Share
Battery-electric vehicles continue to be significantly more expensive than comparable internal combustion models in the U.S., contributing to October’s steep sales drop across major automakers. Despite this, global momentum for EV adoption remains robust, with Rho Motion noting that Europe and China are likely to sustain growth through the final quarter of 2025.