Global sales of fully electric and plug-in hybrid vehicles (PHEVs) increased by 12% in March compared to the same month in 2023, with growth in China and the U.S. market partly offset by a 9% drop in Europe, according to market research firm Rho Motion.
“Overall, sales growth has slowed but it’s still somewhat positive,” said Charles Lester, data manager at Rho Motion, in comments to Reuters.
The demand for electric cars has cooled in recent months after experiencing significant growth for several years, as consumers await more affordable models to enter the market.
In March, global electric vehicle sales reached 1.23 million units. Sales rose by 27% in China and by 15% in the United States and Canada.
Rho Motion has forecasted that global electric car sales will increase between 25% and 30% this year. However, Lester mentioned that global growth is likely to be closer to the lower end of that forecast.
