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Global EV sales fall 2% in September, ending six-month growth streak - Finance news and analysis from Global Banking & Finance Review
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Global EV sales fall 2% in September, ending six-month growth streak

Published by Global Banking & Finance Review

Posted on October 15, 2026

2 min read

· Last updated: October 15, 2026

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Global EV Sales Decline 2% in September, Breaking Six-Month Growth Streak

September 2024 Global Electric Vehicle Market Overview

By Amir Orusov

Oct 16 (Reuters) - Global demand for electric vehicles fell 2% in September, ending six consecutive months of growth, as record sales in Europe were not enough to offset sharp declines in North America and China, data from UK-based research firm Benchmark Mineral Intelligence showed on Friday.

Regional Market Performance and Divergence

The data highlights growing divergence across major EV markets. Europe is benefiting from strong consumer demand and policy support, while China's domestic market remains weak and North America continues to feel the impact of the expiration of US federal EV tax credits at the end of September 2025.

Key Global Sales Figures

  • Global EV sales slid to 2.15 million vehicles in September, while year-to-date volumes are up 3% at 15.5 million units
Europe: Record-Breaking Month
  • "Europe had its strongest month on record, with almost 600,000 EVs sold in September, 10% above the previous high set in June," BMI data manager Charles Lester said
North America: Sharp Decline
  • North American sales fell 44%, the steepest monthly decline this year, reflecting the strong year-ago period when buyers rushed to dealerships before the tax credits expired
  • From the fourth quarter, these comparisons will ease as they lap the post-tax-credit slump, Lester said
China: Domestic Weakness and Export Reliance
  • Sales in China dropped 18% to 1.11 million vehicles, prompting carmakers to increasingly rely on exports

(Reporting by Amir Orusov in Gdansk, editing by Milla Nissi-Prussak)

Key Takeaways

  • Global EV sales in September 2026 fell 2 % to 2.15 million units, halting a six‑month growth run. Europe posted a record month with nearly 600,000 EVs sold, while North America plunged 44 % and China dropped 18 % (apnews.com).
  • Europe’s strength stems from robust consumer demand and strong policy support, particularly subsidies and incentives across major markets (source.benchmarkminerals.com).
  • China’s domestic EV market remains weak, prompting automakers to pivot heavily toward exports. Meanwhile, North America continues grappling with the fallout from the U.S. federal EV tax credit expiration in late September 2025 (apnews.com).

References

Frequently Asked Questions

Why did global EV sales fall in September 2024?
Global EV sales fell 2% in September 2024 due to steep declines in North America and China, which offset Europe’s record sales.
Which region saw the strongest EV sales in September?
Europe experienced its strongest month on record, selling nearly 600,000 EVs in September, 10% above its previous high.
How did EV sales in North America perform?
North American EV sales fell 44% in September 2024, the steepest monthly decline this year, affected by expiring US federal EV tax credits.
What caused the drop in China’s EV market?
China’s EV sales dropped 18% to 1.11 million vehicles in September, attributed to weak domestic demand and increased reliance on exports.
What is the overall trend for global EV sales in 2024?
Despite the September drop, global EV sales are up 3% year-to-date, totaling 15.5 million units.

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