The growth was driven by China (approx. 1.3 million units) and Europe (sales up 36%), while North America saw a 41% drop to around 100,370 units. Analysts attribute the U.S. decline to the expiry of the US$7,500 tax credit and the higher price of EVs compared with internal combustion vehicles. Reuters
Implication: The divergent regional trends suggest that while the global EV market continues to expand, the U.S. may lose further ground unless incentives, cost structures and affordability improve.