Global EV sales up 35% in October, Europe ekes out a gain

Global sales of fully electric and plug-in hybrid vehicles rose 35% in October from the same month last year, led by a 54% jump in sales in China, market research firm Rho Motion said on Wednesday.

European sales rose just 0.8%, but were up in annual terms for the second straight month and the research firm expects a good end to the year in the region, data manager Charles Lester told Reuters.

WHY IT'S IMPORTANT

The European auto sector is facing challenges including high production costs, managing the shift to EVs, and an influx of lower-cost vehicles from Chinese rivals.