Market research firm Rho Motion reports a 26% increase in global electric vehicle and plug-in hybrid sales, driven by strong demand in China and the US tax-credit rush.
Global sales of fully electric and plug-in hybrid vehicles rose to a record 2.1 million units in September, marking a 26 percent increase from the same period last year, according to market research firm Rho Motion.
This growth is primarily attributed to strong demand in China and a late surge in US buyers securing incentives before they expired.
China dominated the global EV market, accounting for approximately two-thirds of sales with around 1.3 million units.
Meanwhile, North America also achieved record sales as American consumers rushed to claim the expiring $7,500 EV tax credit.
Although demand is anticipated to decline sharply in the fourth quarter due to the loss of federal incentives, automakers such as General Motors and Hyundai are attempting to mitigate this impact by offering discounts or utilizing dealer inventories.
In Europe, sales also reached a new high, bolstered by incentives in Germany and robust demand in Britain.
Tesla's recent rollout of a lower-cost Model Y in Europe is expected to further intensify competition in the coming months.
The data from Rho Motion indicates that European sales increased by 36 percent to 427,541 units, while North American sales surged by 66 percent to approximately 215,000 units.
Sales in the rest of the world saw a significant increase of 48 percent, reaching 153,594 vehicles.
With the federal incentive now unavailable, US demand is expected to drop sharply in the final quarter of the year.
Rho Motion data manager Charles Lester emphasized this shift, noting that automakers are adjusting production accordingly.