Europe's EV Surge Lifts Global Numbers, but the Terms Are Regional

A seven percent global sales increase masks a fractured market where subsidy-fueled European growth offsets declines in China and North America.

Global electric vehicle sales rose seven percent in June, marking four consecutive months of expansion. The headline number is tidy enough. The terms beneath it are not. A 31 percent surge in European registrations carried the worldwide figure, offsetting contracting demand in China and North America [3]. The growth is real, but it is entirely regional, and the financing behind it is borrowed time.

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