Global EV sales grew in November at the slowest rate since February 2024, with China plateauing and the US facing its first decline since 2019 due to the end of an EV tax credit scheme. However, Europe saw strong growth in electric vehicle registrations, up by a third compared to the same period in 2024.

Electric transport advocates emphasize the need for a rapid transition to EVs to reduce CO2 emissions, but slow adoption has led to backtracking on green commitments by carmakers and governments, posing a threat to jobs and profits. Global EV registrations increased by 6% to nearly 2 million units in November, with China up 3% and North America down by 42%.

The US EV market is expected to see a decrease next year after the influence of the tax credit, according to BMI data manager Charles Lester. President Trump’s proposed fuel economy standards and delays in EU proposals affecting the auto sector may further challenge electrification efforts. In China, reduced government subsidies could impact consumer sentiment in the world’s largest EV market.

Read more at Yahoo Finance: Global EV sales growth slowest since Feb 2024 on China plateau, US policy changes