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China, Europe drive global March EV sales hike: Platts Analytics

London — Global sales of plug-in electric vehicles (PEV) rose 55% on the year in March as China recovered from a slump in February, S&P Global Platts Analytics said in a monthly report.

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Global EV sales totaled 214,054 units in March compared with 122,288 in February. Chinese sales were up 88% on year, followed by Europe with a 55% gain and just 4.6% growth in the US.

"Chinese sales received a boost as consumers purchased PEVs ahead of the anticipated subsidy rollback, which occurred in late March," Platts Analytics said in the report. "We expect a correction in April PEV sales as Chinese consumers react."

China accounted for 51% of global light duty passenger PEV sales in March with over 110,000 units.

In Europe, Q1 EV sales climbed 44% on the year to 128,000 units for the EU15 and European Free Trade Association, a new quarterly record. March alone saw a 49% year-on-year gain with over 46,000 units sold across the EU28, it said.

Germany continues to catch up with early adopter Norway, both markets having sold over 23,000 units in Q1. PEV sales remain a niche market in Germany, but come against a background of a continued slide in diesel car sales, the analysis said.

US EV sales rose 4.6% on the year with 27,000 units sold in March, the data show.

As of May 2019, China had installed a cumulative 299,000 PEV charging points, up 38% from end-2018. The country has averaged 21,000 new charge points installed each month so far this year, the report said.

Charge point numbers in the EU and US stand at 170,000 and 72,000 respectively.

Platts Analytics' EV Essentials service collects vetted historical data to track the progression of EV sales growth, related trends, prices and impacts in key emerging auto markets around the world.

-- Andreas Franke, andreas.franke@spglobal.com

-- Edited by James Burgess, newsdesk@spglobal.com