📈 Global EV Sales Fall 2% in September, Ending 6-Month Growth Streak

Global demand for electric vehicles dropped 2% in September, snapping a six-month streak of consecutive monthly growth. The downturn was driven by significant contractions in North America and China, which overshadowed record-breaking sales performance in Europe. • Overall Figures: Global volume fell to 2.15 million units in September. Despite the monthly contraction, total year-to-date (YTD) sales expanded 3% to reach 15.5 million units. • Sector & Regional Breakdowns: • Europe: Recorded its strongest month on record with nearly 600,000 units sold (+10% vs. previous record high in June), supported by robust consumer demand and favorable policy initiatives. • North America: Plunged 44% in its steepest monthly drop this year, following the expiration of US federal tax credits at the end of September 2025. • China: Decreased 18% month-on-month to 1.11 million units amid ongoing weakness in its domestic market, compelling domestic automakers to increasingly prioritize export channels. • Market Outlook: Comparative figures for North America are projected to stabilize starting Q4 as the market laps the post-tax-credit slump. The shifting global dynamics reflect broader transitions in sustainable transport, a domain increasingly relevant to Sri Lanka’s domestic energy strategy and vehicle electrification goals.