Sales of EVs were up 26% year-over-year.
Transcript:
CAROLINE WOODS: EVs are breaking records!
More than 2.1 million electric and plug-in hybrid vehicles were sold worldwide last month – up 26% from last year. That’s the highest monthly total on record, according to Rho Motion.
China is driving the boom, accounting for roughly two-thirds of those sales. The U.S. also set a record with sales up 66-percent year over year, as buyers rushed to claim the $7,500 federal tax credit before it expired.
Europe saw a surge too, fueled by incentives in Germany and strong demand in the UK. Tesla’s rollout of a lower-cost Model Y in Europe is expected to heat up competition even more.
But here’s the catch: with U.S. incentives gone, analysts say demand could drop sharply in Q4. Automakers are already cutting production and slashing prices – Hyundai, GM, Volkswagen, and Mercedes-Benz are all taking action.
So – hot today… uncertain tomorrow.
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