agent Entrepreneur logo
MenuMENU
SearchSEARCH

China Sells 1M EVs in a Month

New record contrasts with Europe’s dip year to date; U.S. sales ‘healthy.’

September 13, 2024
China Sells 1M EVs in a Month

The researcher says the 2022 Inflation Reduction Act, which promotes domestic and clean energy, including tax breaks for EV purchases, has helped increase U.S. EV sales.

Credit:

Pexels/Kindel Media

2 min to read


China reached an automotive milestone in August, selling more than a million electric vehicles for the month, according to research provider Rho Motion.

The deliveries high point surpassed China’s previous record, set in December, by 70,000 units, the EV- and renewable energy-focused company said.

Ad Loading...

Headed in the other direction so far in 2024, Europe is down 4% year-over-year through August in what Rho Motion said is the first EV sales shrinkage in any region. It cited a series of EV subsidy reductions and trade barriers as the reasons for the drop.

China, meanwhile, is up 33% year to date, according to Rho Motion, while the U.S. and Canada are up 9%, and worldwide sales are up 20%.

“We anticipate this milestone to be reached multiple times before the end of the year as sales typically surge in the latter half of the year,” said Rho Motion Data Manager Charles Lester. “Meanwhile, continued subsidy cuts and trade barriers in Europe are having a negative impact on sales.”

He added that in the U.S., the fall presidential election could have a “major impact” on stateside EV sales. The growing segment has become a political issue in some circles here, and many domestic automakers and those abroad are shifting toward more hybrid production.

The 2022 Inflation Reduction Act, which promotes domestic and clean energy, including tax breaks for EV purchases and leases, has helped increase EV sales here, said Rho Motion Automotive Lead Will Roberts.

Originally posted on Auto Dealer Today

More Sales

Nissan SUV in a tunnel
Salesby Lauren LawrenceMay 29, 2026

Nissan Reports Significant Sales Growth

Following the release of Nissan’s 2025 fiscal year report, the automaker announced that its retail-first approach has led to a significant jump in dealer sales.

Read More →
Orange BMW with windshield wipers sticking up.
Salesby Hannah MitchellMay 18, 2026

Inventory of New Units Stable

Auto brands spent April clearing out most of their 2025 supply with incentives while holding firm on 2026 prices, striking a balance to meet demand and protect their bottom lines.

Read More →
two men in suits shaking hands
Salesby Peter ChafetzMay 1, 2026

The Hidden Edge

Reflections from the 2026 Agent Summit: gratitude, gut decisions, and the power of the first contact

Read More →
Ad Loading...
Photo of white 2026 Ford Bronco on a sandy beach
Salesby Hannah MitchellApril 10, 2026

March New-Vehicle Sales Don’t Reflect War

Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.

Read More →
car with hood open, an arm holding a wrench, The most loyal generation text, Agent Entrepreneur logo
Salesby Lauren LawrenceApril 9, 2026

Service Drives Gen Z Loyalty

The dealership profit center plays an important role in customer retention, and generation Z customers are showing the highest loyalty rates, based on recent CDK Global data.

Read More →
chart showing the quarterly electric vehicle market share from 2020-2025
Salesby Lauren LawrenceMarch 27, 2026

EV Sales Slide While Hybrids Climb

California, as usual, led the country in EV registrations in the fourth quarter, but the U.S. as a whole saw a 43% year-over-year volume decrease.

Read More →
Ad Loading...
car in the background with two people exchanging a set of keys and one person holding a clipboard with paperwork that says "Contract". Text says Buyout Beats Leasing. Agent Entrepreneur logo in top right corner.
Salesby Lauren LawrenceMarch 26, 2026

Lease Buyouts Deemed Favorable

Better financing conditions and the potential to save money on monthly payments could drive more consumers to buy out their vehicle leases instead of opting for a new lease payment.

Read More →
Graphic showing used-vehicle days to turn rate
Industryby StaffMarch 10, 2026

Black Book: Weekly Market Update

Both vehicle values and conversion rates sped up last week as two segments outperformed in the pre-spring burst of buying.

Read More →
Salesby Lauren LawrenceMarch 4, 2026

Used-Vehicle Program Aims to Draw More Buyers

GM says more than 750 dealers across the U.S. are enrolled in CarBravo and that in January CarBravo dealers sold over two times the certified volume of Chevrolet, Buick and GMC dealers using traditional CPO.

Read More →
Ad Loading...
SalesFebruary 25, 2026

Creating Agency Loyalty

There are tried and true ways to instill it while also protecting your agency from competitors and other roadblocks.

Read More →