Electric Car Sales Fall for First Time After China Cuts SubsidyBloomberg News
Sales drop 14% in July to about 128,000 vehicles: Bernstein
Slowdown highlights the effect of government subsidies
Global electric-car sales fell for the first time on record in July after China scaled back purchase subsidies, highlighting the role government assistance is having on the burgeoning market.
Monthly sales worldwide fell 14% to about 128,000 plug-in passenger electric vehicles, Sanford C. Bernstein said in a report Tuesday. Sales declined in China and North America, while rising in Europe.