ReutersTotal new vehicle sales, which include retail and non-retail transactions, are estimated at about 1,087,900 units in January, according to the report. Electric Vehicle(EV) retail share for the month is expected to drop to 8.1% from 9.2% at the end of 2023, as changes in government rebate criteria came into force at the beginning of the month. "Changes in the eligibility of many electric vehicles to qualify for government rebates, which took effect Jan. 1, meant many EV purchases that would have occurred in January were made in December," said Thomas King, president of the data and analytics division at J.D.

Source: Wall Street Journal January 26, 2024 12:39 UTC