🔋 Electric car sales hit record with over 1 million sold in January

• Global sales of electric vehicles exceeded 1 million units in January, an increase of 69 percent compared to the previous year.
• In the EU, EFTA, and the United Kingdom, sales increased by 29 percent year over year, while the USA and Canada saw a 41 percent increase and nearly a doubling in China.
• Despite reduced subsidies in some regions, electric vehicle sales continue to rise, with significant year-over-year increases in countries like Germany and France.

Record numbers in global sales

According to Rho Motion, global sales of electric vehicles reached a milestone with over 1 million sold in January, which is a 69 percent increase compared to the same month last year.

This growth occurs despite reduced subsidies in some areas, indicating a strong and growing demand for electric vehicles worldwide.

In Europe, including the EU, EFTA, and the United Kingdom, sales increased by 29 percent year over year, while the USA and Canada experienced a 41 percent increase. China stood out with almost a doubling of sales.

Electric vehicle sales increase despite claims to the contrary

Recently, the media has been filled with claims that electric vehicle sales are decreasing or have plateaued. So far, this has not been true. Many confuse the issues that large traditional car companies are having in becoming profitable in the transition to electric vehicles, with the electric vehicles themselves having problems.

Above all, the sales of electric vehicles are driven by reduced costs to manufacture them (and the batteries that are in them), enabling lower prices.

💡 Musings of the Angry Optimist: Have electric cars peaked?

The electric car market is melting down, they say. Is that true?

Warp NewsMathias Sundin

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