Electric vehicles sales growth may have slowed but the numbers are still positive despite widespread pessimism about the sector, ArsTechnica reported.
Battery-electric vehicles accounted for 8% of new vehicle sales in June and July of this year and remain on target to be above that figure for September, according to estimates from S&P Global Mobility, the story on the tech news website continued.
And while growth has slowed from the 50% year over year seen in 2023, the trend is still positive, the report went on, with market share increasing from 7% in the first three months of this year in a struggling vehicle market. Overall new vehicle sales are expected to drop by 12% this month.
“New vehicle sales remain stuck in neutral,” said Chris Hopson, principal analyst at S&P Global Mobility. “The overall tenor of the auto demand environment remains one of consistent, but unmotivated volume levels as consumers in the market continue to be pressured by high interest rates and slow-to-recede vehicle prices, which are translating to high monthly payments.”
Read the full story: ArsTechnica
- By Sean O’Meara
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