Indian Ferro Alloys Faces Numerous Challenges in 2024
Electric Vehicle Sales Soar in November 2023
By Shubhendra Anand , 12 January, 2024
Earlier in the beginning of 2023, the surveys claimed that electric vehicle sales would increase in numbers by the end of 2023. The electric vehicles market is expanding with growing concerns over sustainable development goals and reduction in carbon emissions by the end of 2050. A survey report shows that the electric vehicle market sees a 20 percent soar in global sales for November 2023.
Electric vehicles are witnessing exponential growth in the market for 2023 due to various reasons. The transportation sector has gradually transformed to electric cars in the past two to three years due to environmental concerns, advancement in the technology sector, and the worse impact our environment is receiving from fossil fuel-based vehicles, among others. These are the main concerns driving the growth in the production of electric vehicles in 2023. Based on the survey reports, electric vehicle sales in November 2023 are reported to be a 27.15 percent increase compared to EV sales in November 2022. The reports from the survey show that a greater number of sales were recorded from China and North America. China and North America will boost the growth and sales of electric vehicles in November 2023. China witnessed a rise in sales by 25 percent, while the United States and Canada also recorded an increase in sales by 43 percent in November 2023. Sales of electric vehicles and plug-in hybrids worldwide rose by 20 percent in November 2023.
Expert analysis suggests that growth in electric vehicles is expected to rise in the coming years without any signs of decline. Electric cars are expected to take up the most significant space in the automobile sector soon. According to a survey, electric vehicle sales in India surged by 9.54 percent compared to October sales in 2023. In November 2023, the sales units ranged to 152,514 units for electric vehicles. The rise in electric vehicles is a positive sign contributing towards lowering carbon emissions by 2050. Car manufacturers are more concerned about meeting the target of reducing carbon emissions by 2025.
China's NEV Sales Expected to Reach 8 Million in 2023
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Shubhendra Anand
Head Research
