Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Japan’s Service Sector Sustains Growth Momentum in November 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Global sales of electric vehicles (EVs) and plug-in hybrids soared 23% in October to 1.9 million units, according to market research firm Rho Motion. The surge was fueled by robust demand in key markets like China and Europe, signaling continued momentum in the global transition toward cleaner transportation.
Europe recorded the strongest regional growth, led by Germany, France, and the UK, with sales climbing 36% to 372,786 units. The region’s performance was further supported by new EU-approved battery projects and steady consumer demand, even as overall sales moderated after a peak in September.
China, the world’s largest automotive market, accounted for more than half of total global EV sales with approximately 1.3 million units sold. The country continues to maintain a significant edge due to closer price parity between electric and internal combustion engine (ICE) vehicles compared to Western markets. Rho Motion data manager Charles Lester noted that Chinese demand is expected to remain strong through the end of the year, as buyers rush to take advantage of full purchase tax exemptions on new energy vehicles before they are reduced to 50%.
In contrast, North America experienced a notable slowdown, with sales plunging 41% to 100,370 units after record highs in August and September. The drop followed the expiration of the $7,500 federal tax credit, which had temporarily boosted EV purchases. Analysts say high prices for battery-electric models compared to ICE vehicles remain a significant barrier to adoption in the U.S.
Overall, sales in the rest of the world increased 37% to 141,368 units, highlighting global momentum toward electrification despite regional challenges. Experts anticipate continued strength in China and Europe, setting the stage for another strong finish to 2025’s EV market.
