For the past 12 months, the sales rate of EVs was constantly growing which can be now expected to have reached a tipping point in the closing quarter of the year. This is caused by multiple factors, for example a decrease in purchase subsidies on Europe’s largest passenger car market Germany but also other markets, such as Norway and Sweden, are expected to grow much slower than in the previous year.
Additionally, Chinese OEMs have shown an inevitable market growth with almost every tenth new BEV during the third quarter coming from China. Yet this strong growth is likely to be limited for now.
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