China Dominates Global EV Sales as U.S. Incentives Fade
Global electric vehicle sales surged to a record 2.1 million units in September, marking a 26% year-over-year increase according to Rho Motion. China accounted for 62% of purchases, with 1.3 million units sold—extending its lead in the EV race as Western markets grapple with policy shifts.
Europe followed with 400,000 deliveries (up 36%), while North America saw 215,000 units sold—a 66% spike fueled by expiring U.S. tax credits. The looming withdrawal of $7,500 federal incentives has already triggered a $1.6 billion writedown by General Motors on its EV production.
Automakers face mounting pressure as subsidies disappear. Stellantis and GM reported temporary sales bumps from the phased-out credits, but the industry now braces for demand contraction. Meanwhile, China's command of supply chains and domestic demand continues to reshape the global automotive landscape.
