Global EV Sales Surge 23% in October, Topping 1.9 Million Units

Global sales of electric vehicles (EVs) and plug-in hybrids (PHEVs) surged 23% in October, reaching 1.9 million units sold, according to new data from market research firm Rho Motion. This global growth, however,masks a stark regional divide, with booming markets in China and Europe compensating for a sharp decline in North America.

October EV Sales: The Key Global Numbers

For businesses, consumers, and policymakers tracking the electric vehicle transition, the October data provides critical insights:

• Total Global Sales : 1.9 million units

• Year-Over-Year Growth : 23%

• Includes : Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs)

• Data Source : Rho Motion

China and Europe Lead the EV Charge

The global growth story was almost entirely written by two key regions : China and Europe.

China Dominates Global EV Market China, the world's largest auto market, was the primary driver, accounting for over half of all sales. The country saw approximately 1.3 million EV and PHEV units sold.

Analysts at Rho Motion note that the price parity between EVs and traditional internal combustion engine (ICE) vehicles is much closer in China, boosting consumer adoption and reducing reliance on incentives.

Europe Sees Strong 36% Jump The European market also showed robust health, with sales jumping 36% to 372,786 units. This indicates sustained demand across the continent, even as the market matures.

North American Sales Tumble as Incentives End

The most significant finding in the report was the sharp 41% decline in North American (primarily U.S.) sales, which fell to just 1,00,370 units.

Why Did US EV Sales Drop?

The data points directly to the expiration of a crucial $7,500 federal tax credit. This policy change dramatically increased the upfront cost for consumers, highlighting the market's current sensitivity to government incentives. Without the credit, the significant price gap between EVs and their gasoline-powered counterparts in the U.S. has discouraged many potential buyers.

Market Outlook: A Divided Road Ahead for EV Growth

The October sales data paints a clear picture : the global EV transition is not happening at the same pace everywhere.

While China's market advances on the back of near-price-parity, Western markets remain heavily reliant on government subsidies to bridge the affordability gap. The North American downturn serves as a key case study for policymakers and EV automakers on the critical impact of incentive policy on consumer demand in the evolving EV landscape.