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Global May EV Registrations Grow 3% YoY; China Down 9%
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As subsidies and persistently high fuel prices continued to boost demand for electric vehicles (EVs), global new registrations of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) added 3% YoY in May to approximately 1.8 million units, marking the third consecutive month of growth, data from consultant Benchmark Mineral Intelligence showed. Total sales in 5M26 also grew 0.9% YoY. European demand was the main driver of the increase in May registrations, with registrations in the region hiking 23% to approximately 415,000 units. In China, registrations dropped 9% YoY to approximately 987,000 units in May, in wake of the cancellation of vehicle trade-in subsidies and the end of tax incentives for EV purchases. Sales in North America also declined 26% in May to approximately 123,000 units, weighed down by the expiration of tax incentives and the US government’s intention to further relax carbon dioxide emissions regulations. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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