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Global Automotive Market
The global electric vehicle market registered its fifth consecutive month of growth in July, rising 9% year-on-year to 1,85 million units. The strong boost from subsidies in Europe contrasts with the contraction in sales in China and North America, which is facing the end of federal tax credits, according to data from the consultancy firm Benchmark Mineral Intelligence.
Global demand for electric vehicles (EVs) continued its upward trend for the fifth consecutive month in July, revealing a growing divergence between major global markets, according to data published Thursday by the specialized consultancy firm. Benchmark Mineral Intelligence (BMI), combined sales of battery electric vehicles and plug-in hybrids increased by 9% compared to the same month of the previous year, reaching 1,85 million unitsWith this figure, the accumulated volume so far this year stands at 11,5 million vehicles.
Europe accelerates as an engine of growth
The main catalyst for this growth was the European market, where sales skyrocketed. 33% up to 450.000 units, raising the cumulative annual growth to 28%. From BMI They explain that "strong growth persisted in the largest automotive markets of EuropaMany of which have seen the return of some EV subsidy scheme in the last 18 months.” The July data speaks for itself: Francia registered an 81% increase, Alemania of 46% and the Reino Unido the 43%.
This dynamism in the continent's main markets represents a strategic opportunity for Spanish production centers, which dedicate a significant portion of their manufacturing to exports to these countries. The rebound in demand in nations such as Francia y Alemania directly impacts the production and logistics chains of plants located in España, which are positioned as a key pillar for supplying the community market.
The divergence between China and the United States
On the other hand, the two largest individual markets showed signs of weakness. ChinaSales fell by 5% to 980.000 units. This domestic contraction is forcing Chinese manufacturers to rely increasingly on exports to maintain their growth. This export strategy of the Asian giants increases competitive pressure in the European market, directly affecting manufacturers based on the continent, including Spanish ones, who must compete with new players and models in their main export market.
For its part, Norteamérica It suffered the steepest decline, with a drop of 27% Sales fell to 140.000 units. This decline comes after the end of federal tax credits for electric vehicles in Estados Unidos, a measure aligned with the policy of the current administration of the president Donald TrumpMeanwhile, sales in the rest of the world saw a remarkable 97% jump to 280.000 units, albeit from a lower comparative base. The resulting global scenario is one of a fragmented market, whose pace is primarily determined by the subsidy and incentive policies of each region.
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