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Global electric vehicle sales in February affected by China's New Year festivities

Tesla automobiles charge at charging points in Beijing, China, April 18, 2017

LONDON, March 13 (mod1s) - Global sales of fully electric and plug-in hybrid vehicles (PHEVs) climbed at a modest pace of 3% in February against the same month last year largely owing to the influence of the Chinese Lunar New Year festivities, market research company Rho Motion said on Wednesday.
The business reported worldwide sales surpassed 800,000 units. Sales in Europe gained 12% over February of last year and jumped 31% in the U.S. and Canada, while they declined 12% in China.

"The reason for the lower growth is because China is still the dominant market" for electric vehicles, Charles Lester, data manager at Rho Motion, told Reuters.
Sales demand for electric vehicles has fallen in recent months after surging substantially for many years, as buyers wait for more cheap models to join the market.
Lester said sales in China are up 34% so far this year, which he said offers a stronger indicator of the strength of the business considering that China's Lunar New Year last year fell in January.

Rho Motion anticipates worldwide electric vehicle sales to climb between 25% and 30% this year, Lester added.


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