Global electric vehicle (EV) sales growth slowed sharply in November, marking the weakest expansion since February 2024, as demand in China showed signs of levelling off and policy changes in the United States weighed heavily on North American sales, according to data from Benchmark Mineral Intelligence.
Worldwide EV registrations, which Benchmark uses as a proxy for sales, rose 6% year-on-year to just under 2 million units in November. Growth in China, the largest EV market globally, slowed to 3% year-on-year to more than 1.3 million vehicles, its weakest pace since February 2024, reflecting softer demand as state support tapered toward the end of the year.
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North America recorded the steepest decline among major regions. EV registrations fell 42% year-on-year to slightly above 100,000 units, following the expiry of US electric vehicle tax credits. The November drop mirrored a similar contraction seen in October, leaving cumulative registrations in the region down 1% for the year so far and putting it on track for its first annual decline in EV sales since 2019.
Europe continued to outperform, supported by national incentive programmes across several countries. Registrations in the region rose 36% year-on-year in November to more than 400,000 vehicles and are up by roughly one-third so far this year compared with the same period in 2024. Sales in other markets worldwide increased 35% year-on-year to nearly 160,000 units.
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Benchmark said the contrasting performance across regions highlights the role of policy support in shaping EV demand. In China, reduced government subsidies are expected to dampen purchases into year-end, while in the United States the removal of tax incentives has had an immediate effect. “For next year, we’re still expecting a decrease in US EV sales,” said Charles Lester, data manager at Benchmark Mineral Intelligence, adding that tax credits had been a key driver of demand.
The slowdown comes as governments reassess their approaches to the electric vehicle transition. In the United States, President Donald Trump has proposed rolling back fuel economy standards introduced by the previous administration. In Europe, the European Union has delayed proposals that could potentially soften its planned 2035 ban on the sale of new internal combustion engine vehicles.
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Industry groups promoting electric transport say rapid EV adoption remains critical to cutting carbon emissions, while automakers and some policymakers have expressed concern about slower-than-expected uptake and its potential impact on jobs, investment and profitability.
Source: Reuters
