Latest news with #RhoMotion
Time of India
6 days ago
- Automotive
- Time of India
Chinese automakers build significant leads in zero-emission vehicle market, research finds
Chinese automakers are rapidly pulling ahead in the global zero-emission vehicle (ZEV) market, according to research firm International Council on Clean Transportation (ICCT). WHY IT'S IMPORTANT The global EV market is currently experiencing intense competition among its key players. China has a crucial role in the global EV transition, as it now accounts for over 11 million electric vehicles sold annually, which corresponds to more than half of global EV sales, ICCT said in a report. Electric vehicle sales in China surpassed over one million units in a single month for the first time this year, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, Rho Motion said earlier. BY THE NUMBERS China-based automakers took the 5 top positions in ZEV class coverage, and 5 of 6 top positions for EV sales share, with companies like Geely and SAIC already reaching 50% EV sales share achieving their 2025 goals a year sooner than planned, ICCT data showed. BYD exceeded Tesla in global battery electric vehicle (BEV) sales for the first time in 2024, with a 25% increase in BEV sales and 47% increase in combined BEV and plug-in hybrid electric vehicle (PHEV) sales compared to 2023, the research firm said, adding both companies are in the "Leaders" category of the rating. KEY QUOTES "As China-based automakers expand globally, other leading global manufacturers face urgent pressure to accelerate their own transitions or risk losing competitive ground," said Drew Kodjak, president and CEO of the ICCT. "For the wider global auto industry, this is no longer just about meeting future goals - it's about remaining competitive today in a market that's charging up," he added.
TimesLIVE
13-06-2025
- Automotive
- TimesLIVE
Global EV sales rise in May as China hits 2025 peak
Global sales of electric and plug-in hybrid vehicles rose 24% in May compared with the same period a year ago, as strength in China offset slower growth in North America, according to market research firm Rho Motion. Electric vehicle sales in China surpassed more than one million units in a single month for the first time this year, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, notably BYD, tapping into emerging markets. BYD's exports to Mexico and Southeast Asia, along with Uzbekistan, have significantly boosted sales in the regions, said Rho Motion data manager Charles Lester. Fleet incentives in Germany and robust growth in Southern Europe helped lift the European market, while the expiry of Canadian subsidies dragged on North American demand, he added. The story this month with global vehicle sales is the continued chasm between Chinese market growth versus the faltering market in North America Rho Motion data manager Charles Lester Global carmakers face a 25% import tariff in the US, the world's second-largest car market, causing many to withdraw their outlooks for 2025. In Europe, new incentives for fleet buyers in Germany are expected to support electric car sales through the second half of the year. Tesla's Model Y production in Berlin shields it from tariffs, yet it faces market share pressures as production ramps up globally amidst shifting trade tensions. US President Donald Trump's stance towards emissions standards and uncertainties around tariffs has also hampered EV growth in North America. In the US, tax credits for EVs are available but will begin phasing out from 2026, contributing to hesitation among buyers. Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6-million units in May, Rho Motion data showed. Sales in China grew more than 24% from the same month last year to 1.02-million vehicles. Europe posted a 36.2% increase to 0.33-million units, while North American sales edged up just 7.5% to 0.16-million.
Time of India
13-06-2025
- Automotive
- Time of India
Global EV sales rise in May as China hits 2025 peak -Rho Motion
Global sales of electric and plug-in hybrid vehicles rose 24% in May compared with the same period a year ago, as strength in China offset slower growth in North America, according to market research firm Rho Motion. Electric vehicle sales in China surpassed over one million units in a single month for the first time this year, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, notably BYD, tapping into emerging markets. BYD's exports to Mexico and Southeast Asia, along with Uzbekistan, have significantly boosted sales in these regions, Rho Motion data manager Charles Lester said. Fleet incentives in Germany and robust growth in Southern Europe helped lift the European market, while the expiry of Canadian subsidies dragged on North American demand, he added. WHY IT'S IMPORTANT Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. In Europe, new incentives for fleet buyers in Germany are expected to support electric car sales through the second half of the year. Tesla's Model Y production in Berlin shields it from tariffs, yet it faces market share pressures as production ramps up globally amidst shifting trade tensions. President Donald Trump's stance towards emissions standards and uncertainties around tariffs has also hampered EV growth in North America. In the U.S., tax credits for EVs are still available but will begin phasing out from 2026, contributing to hesitation among buyers. BY THE NUMBERS Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in May, Rho Motion data showed. Sales in China grew more than 24% from the same month last year to 1.02 million vehicles. Europe posted a 36.2% increase to 0.33 million units, while North American sales edged up just 7.5% to 0.16 million. Sales in the rest of the world rose 38% to 0.15 million vehicles. KEY QUOTE "The story this month with global vehicle sales is the continued chasm between Chinese market growth versus the faltering market in North America," Charles Lester said.
Straits Times
13-06-2025
- Automotive
- Straits Times
Global EV sales rise in May as China hits 2025 peak: Rho Motion
EV sales in China grew more than 24 per cent in May from the same month in 2024 to 1.02 million vehicles. PHOTO: BLOOMBERG Global EV sales rise in May as China hits 2025 peak: Rho Motion LONDON – Global sales of electric and plug-in hybrid vehicles rose 24 per cent in May compared with the same period a year ago, as strength in China offset slower growth in North America, according to market research firm Rho Motion. Electric vehicle (EV) sales in China surpassed one million units in a single month for the first time in 2025, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, notably BYD, tapping into emerging markets. BYD's exports to Mexico and South-east Asia, along with Uzbekistan, have significantly boosted sales in these regions, Rho Motion data manager Charles Lester said. Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in May, Rho Motion data showed. Sales in China grew more than 24 per cent from the same month in 2024 to 1.02 million vehicles. Europe posted a 36.2 per cent increase to 0.33 million units, while North American sales edged up just 7.5 per cent to 0.16 million. Sales in the rest of the world rose 38 per cent to 0.15 million vehicles. 'The story this month with global vehicle sales is the continued chasm between Chinese market growth versus the faltering market in North America,' Mr Lester said. Global automakers face a 25 per cent import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. US President Donald Trump's stance towards emissions standards and uncertainties around tariffs has also hampered EV growth in North America. In the US, tax credits for EVs are still available but will begin phasing out from 2026, contributing to hesitation among buyers. Fleet incentives in Germany and robust growth in Southern Europe helped lift the European market, while the expiry of Canadian subsidies dragged on North American demand. In Europe, new incentives for fleet buyers in Germany are expected to support electric car sales through the second half of the year. Tesla's Model Y production in Berlin shields it from tariffs, yet it faces market share pressures as production ramps up globally amidst shifting trade tensions. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
12-06-2025
- Automotive
- Business Times
Global EV sales rise in May as China hits 2025 peak: Rho Motion
GLOBAL sales of electric and plug-in hybrid vehicles rose 24 per cent in May compared with the same period a year ago, as strength in China offset slower growth in North America, according to market research firm Rho Motion. Electric vehicle sales in China surpassed over one million units in a single month for the first time this year, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, notably BYD, tapping into emerging markets. BYD's exports to Mexico and South-east Asia, along with Uzbekistan, have significantly boosted sales in these regions, Rho Motion data manager Charles Lester said. Fleet incentives in Germany and robust growth in Southern Europe helped lift the European market, while the expiry of Canadian subsidies dragged on North American demand, he added. US tariff Global automakers face a 25 per cent import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In Europe, new incentives for fleet buyers in Germany are expected to support electric car sales through the second half of the year. Tesla's Model Y production in Berlin shields it from tariffs, yet it faces market share pressures as production ramps up globally amidst shifting trade tensions. President Donald Trump's stance towards emissions standards and uncertainties around tariffs has also hampered EV growth in North America. In the US, tax credits for EVs are still available but will begin phasing out from 2026, contributing to hesitation among buyers. By the numbers Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in May, Rho Motion data showed. Sales in China grew more than 24 per cent from the same month last year to 1.02 million vehicles. Europe posted a 36.2 per cent increase to 0.33 million units, while North American sales edged up just 7.5 per cent to 0.16 million. Sales in the rest of the world rose 38 per cent to 0.15 million vehicles. REUTERS
