China First In The World To Cross 1 Million Monthly EV Sales Milestone
The share of EVs in China's total vehicle sales soared to a record 53.5% in August.
China, the world's largest automobile market, sold more than 1 million electric vehicles in August 2024, data released by the China Passenger Car Association showed.
This makes the country the first in the world to cross the milestone, according to research firm Rho Motion.
The total number of sales came in at 1.03 million units last month, marking a growth of 43.2% year-on-year.
The share of EVs in total vehicle sales soared to a record 53.25% in August, the CPCA data showed. The surge was driven by local EV giant BYD and American rival Tesla, which logged its best monthly sales in China in 2024 so far.
Notably, China offers a cash subsidy of $2,823 for those trading their petrol-powered vehicles to buy electric cars.
Globally, 9.8 million EVs were sold between January and August 2024, Fleet World magazine reported, citing Rho Motion's data. This is 20% higher as compared to the year-ago period.
China accounts for the bulk of the global sales in 2024 so far, as it sold 6 million units, the report said.
The year-to-date EV sales rose 9% to 1.1 million units in the US and Canada, whereas the same dropped by 4% to 1.9 million units in Europe, it added.
Meanwhile, India's monthly EV sales stood at 1,56,199 units in August, which was higher 22.8% year-on-year but lower as compared to the peak of over 2,13,000 units sold in March, as per the data available on the Indian government's Vahan website.
