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Global EV demand rose for a fourth straight month as record European growth offset declining registrations in China and North America.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Global electric vehicle demand rose for a fourth consecutive month in June,
00:07driven by strong growth in Europe as sales declined in China and North America, according to Reuters.
00:13Registrations of battery electric and plug-in hybrid vehicles increased 7% from a year earlier to 2 million,
00:19while first-half volumes rose 2%.
00:22European registrations climbed 31% to about 530,000 vehicles,
00:27marking a June record and keeping the region as the main source of EV growth.
00:33Registrations in China fell 11% to around 1 million vehicles.
00:37North American registrations dropped 13% following the end of U.S. EV tax credits.
00:43Chinese automakers continued expanding overseas as domestic demand weakened.
00:47For all things money, visit Benzinga.com.