Global EV sales fall again in February as China records steep drop

The global EV market is a key growth driver for the auto sector. A slowdown in major markets can impact investment decisions and future sales projections for Indian players.

• •The electric vehicle market experienced a notable 11% reduction in sales globally this past February.
• •China faced its most significant downturn since early 2020, influenced by changing laws and the end of certain tax breaks.
• •North America followed suit with its own substantial drop, while Europe managed to see a rise in sales.
• •Risk flag: Changes in government EV subsidies and policies
• •Risk flag: Global economic slowdown impacting consumer spending on EVs