Global EV sales fell 3% in January: Report
EV sales worldwide slipped by 3% compared to last year, with just 1.2 million new electric cars hitting the road in January.
That's also a steep 44% drop from December, as reported by Benchmark Mineral Intelligence.
The biggest slowdown happened in China after new taxes and subsidy cuts made EVs less affordable.
China and North America saw the biggest drops
China's EV market shrank by 20% year-on-year, selling only 600,000 units—a sharp fall of more than half from December.
North America wasn't spared either, with sales dropping 33% to just 90,000 vehicles; the US saw its weakest month since early 2022.
Europe bucked the trend with a 24% jump
While China and North America struggled, Europe's EV sales actually jumped up by 24%, reaching over 320,000 units (though still down from December).
Other countries—especially South Korea, Brazil, and Thailand—helped push "rest of world" sales up an impressive 92%, showing there's still plenty of energy for EVs globally.